Applicability

TrueBit recommends its "time & tech" pricing model for most application/service development, provided that you - as the client - are prepared to take the lead role in feeding back requirements, and you do not require the "fixed-price" option (see below). Payment is made daily or weekly, to match the required work rate. Any tech and equipment required must be paid for along the way: this will, however, be none for most software development.

The "time & tech" model is attractive because you maximize flexibility and control: you can change requirements at any time as you watch the product evolve. However, you must be prepared to take an active role in the product's direction, i.e. provide regular and detailed feedback to TrueBit. It is like hiring a taxi: you pay the driver an agreed rate, and whilst you typically specify a destination upfront, you are free to change the route or get dropped-off at any stage, e.g. based on traffic conditions. However, this model may not be the best choice for every project.

Requirements

Unlike "fixed-price" (see below), with the "time & tech" model there is no original spec of work that must be adhered to. This does not mean there are no specs to work to, but rather you must be prepared to supply them regularly during development. Since the work progresses iteratively rather than sequentially, new requirements can be set at any time. This is particularly important for large or complex applications/services, for which a small change might result in unforeseen consequences needing urgent action. It is also ideal for a new product (e.g. an MVP) that needs to react and adapt rapidly to changing market forces, e.g. customer requests, tech, or competitors.

Your Involvement

Depending on the type of work, and the rate/total of hours you wish to retain our services, we will agree upon a feedback cycle from the start. Typically, our clients feedback to TrueBit daily or weekly; however, we will try to accommodate any interval that fits your particular needs and schedule. The rate of development will be influenced by the rate of your feedback. If you prefer an infrequent rate of feedback - e.g. fortnightly or monthly - you must be prepared for and be able to react to any ad hoc queries coming from TrueBit. Our aim is to reach all your goals and expectations successfully, so we will actively try to resolve any requirement misunderstandings should they occur.

Minimum/Maximum & Retainer Hours

A TrueBit "time & tech" agreement will specify the minimum and maximum hours of development we will spend per week (or other interval). For instance, you may have an urgent piece of work requiring our full and immediate attention: thus, you might set a high minimum. Or, you may have a job that does not need delivery until some date far into the future, in which case you would set a low minimum. Or, you want to carefully control your budget, so you set a low maximum. Your hourly rate agreement with TrueBit will have these limits already costed in. We can also include a TrueBit "retainer" clause, typically a guarantee that TrueBit allocates a number of hours per week for a certain number of weeks.