The sections below briefly differentiate these models.
Fixed Bid – Clear requirements are in place

• Fixed price and schedule
• Suitable when requirements are clear and stable
• Payments are made based on milestones and deliverables
• Project and Account Manager are points of contact
• Calls for Well-defined requirements
• Time & costs kept under control (margins for overruns are built-in)

Time and Material – Requirements evolve

• Requirements not captured yet or a series of small requirements
• Team is charged on a Time & Material basis
• A Senior Executive allocated to manage the account
• Project Management can be with Ramsoft or our clients
• Flexible resources – can be ramped up or down
• More flexibility, particularly when requirements change or evolve
• Lower resource cost