What is T&M (Time and Materials)?

T&M (Time and Materials) — is a pricing model in projects where the client pays for the actual time spent by specialists and the materials used.

Features of T&M:

• Pay as you go: the client pays for the actual hours worked and resources purchased.
• Flexibility: suitable for projects with uncertain requirements or changing tasks.
• Risks: the client bears the risk of overspending on time and materials.

Example: if a developer worked 40 hours at a rate of $50 per hour and used software licenses worth $200, the total amount will be 40*50 + 200 = $2200.