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The time/materials service model is a traditional pay-as-you-go approach to developing a project. In this type of service model Lighthouse Global Technologies typically provides all resources and project management. Resources are sorted by skill type and level and an hourly or daily rate is contracted for each. Lighthouse Global Technologies and the client develop a joint project plan with estimated resource needs.
This model is most often used in projects where the requirements are not well defined or subject to considerable change over the life of the development cycle. In areas where these items are not an issue, most clients find a fixed-price/fixed-time model easier to manage, budget, and track.
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