How to evaluate a project according to T&M and Fixed price models?

Question

Project management

Good afternoon!
Actually a question. I understand the basic concepts in these terms. But basically we worked with everyone on FP and added a percentage for various risks.
What is the best way to evaluate T&M? Just indicate the approximate time without risks, indicating the cost of a man-hour? And to add that the time may increase or decrease ...

Answer 1

Announce the cost of a man-hour and that's it.

Answer 2

This is the essence of TM. You do not have a clear understanding of the labor costs of the project. Accordingly, you cannot give a fixed amount and subscribe to it. Payment is made according to the contract on the fact of labor costs. And how you will coordinate them - before execution, after that it is already subtleties. Most often, people understand TM as "we will saw while sawing, and at the end of the month we will issue an invoice." In fact, TM is the same Scrum. You've been evaluated for an iteration of your own work, the client has agreed, and you're done. Done, accepted, invoice sent and moved on. And so on until the project ends (the client runs out of money).