With the fixed price model, we provide the client with a fixed price and fixed scope for the project. We work with the client to create a design specification that suits their needs. Once agreed upon, we will develop the application exactly as specified and any changes will require a change order which will repeat this process. This method is good for clients with a fixed budget, have little changes, and/or have a dead line.

With time and materials we offer the client an hourly rate and we bill for whatever time and materials it takes to get the job done. The client is more involved and able to make changes more easily as the software is being developed. This method is good for small jobs or when requirements are changing often.

Advantages
Known Fixed Budget Fixed Schedule

Advantages
Client has more control over the development Flexible for changes Client could pay less for the same job with a fixed price

Disadvantages
Not flexible for changes Highest price

Disadvantages
Can be more time consuming for the client Client is in charge of budget control