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Define time and material, when to use time and material for software development, Project approach in time and material engagement, cost of time and material in software development, time and material software fee
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Software development engagement series - 1 Understanding Time and Material engagement for software development
When the software application development project scope, specification and implementation plans cannot be precisely defined at the outset or requirements change dynamically during the project implementation process, the time & material model provides the flexibility of varying the size and workloads of the software development team assigned to your project, while optimizing time and costs. Under the time & material option, iBoss Tech Solutions provides for skilled resources and the development effort is billed at the end of every month based on the pre-negotiated and a mutually agreed hourly rate. This engagement can go from a few months to several years.
The total project cost is determined by the amount of time and resources expended and the actual effort towards the development.
If you wish to go for this engagement, we would finalize on a fixed hourly rate that falls between USD 15 and 20 per hour and quote the same to you after going through the source code and analyzing skills required for the dedicated developers.
The commitment we expect under this model needs to be a minimum period of 6 months.
Expect minimum 3 resources to work under this model
Cost of software development on Time and Material
Still can’t decide on an engagement model ? iBoss can help
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