Fixed Price Based Model
This is the business model applied to most of the projects wherein the scope of the project is known and freezed.
Good for : Small or medium scope short-term projects with clear and well-documented requirements.
Time & Material
Enormous flexibility and control over your budget, enabling to manage and change the development process on the go.
Good for: Medium or large scope projects with few or many unknowns and having flexible project scope or for the projects in their maintenance phases.
Extension of your own team, it gives maximum control but requires more involvement into project management from the customer’s part.
Good for: Long term projects where requirements are unclear and scope changes frequently.