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Time cost • the opportunity cost of the time it takes to do a task Although time cost is a fairly simple concept, it offers a bit of nuance. You can talk about the “cost” of something, but that usually...
Retainers are essentially medium- to long-term Time & Materials engagements for ad hoc as well as small project work. Retainer-based billing is used to even out cash flow for vendors and clients,...
Project-based pricing (or project-based billing or bill-by-project) is when a vendor (freelancer, agency, or consultant) and their client agree on a fixed price for a fixed scope of work. For example: logo,...
Time & materials billing, also known as T&M or hourly billing, is when an agency, freelancer, or consultant tracks the time they spend working on a project, and then sends an invoice for that time at...
