Time and Materials

GPTKB entity

Statements (18)
Predicate Object
gptkbp:instanceOf contract type
gptkbp:alternativeTo lump sum contract
gptkbp:basis_for_payment actual materials used
actual time spent
gptkbp:billing_method hourly rate
cost of materials
gptkbp:client_responsibility pay for time and materials used
gptkbp:contractor_responsibility provide labor and materials
gptkbp:contrastsWith fixed-price contract
gptkbp:flexibility high
https://www.w3.org/2000/01/rdf-schema#label Time and Materials
gptkbp:risk_allocation client bears cost risk
gptkbp:suitableFor projects with uncertain scope
gptkbp:used_in software development
project management
construction industry
gptkbp:bfsParent gptkb:Robert_Hass
gptkbp:bfsLayer 4