In order to deliver all the variables involved in the project development and management, different contractual arrangements are developed to ensure that we meet the enterprises' specific needs and requirements. Time and Material (T & M) contract, fixed bid sow and hybrid are among those contractual arrangements that offer an alternative to standards boilerplate contracts. PRONIX offers contracts, fixed bid sow, hybrid, and T & M services.
When comes to the Time & Material (T & M) contract, all the parties will agree to the pre-specified unit prices for the category of senior engineers. Particularly, in the project management processes, T & M contract arrangements contain both cost-reimbursable and fixed-price contract aspects which can be considered as a Hybrid contract of two contracts.
Similar to the cost-reimbursable arrangement, the T & M contract does not possess any definite end. Simply, it means the full cost of the contract will not be defined at the time of awarding the contract. Hence, both the Time & Material (T & M) contract and cost-reimbursement contract will grow in the budget over the period of time until they are in effect. So, the inherent flexibility of the T & M (Time & Material) contract makes it a really attractive opportunity for those who are involved in the project management tasks and for the individuals who are involved in monitoring the project management.
In the fixed bid sow contract, the value or payment of the project management does not depend on the resources used for the project management. So, regardless of the resources used in the project management, the price will be fixed.
All the contractual arrangements such as contract, fixed bid sow, hybrid and Time & Material (T & M) contracts provided by PRONIX enable you to deliver the right solution to the customer at the right time which helps them to enhance their enterprise efficiency and productivity.