I think it's "time and materials" and he's giving them 15 or 30 days
to pay.
Karl
Sent from losPhone
On Oct 12, 2009, at 6:50 AM, Julio Protzek <julioprot...@gmail.com>
wrote:
I'm also curious about this term.
2009/10/12 Hans Wichman <j.c.wich...@objectpainters.com>
Hi Steven,
excuse my ignorance, but as a non native English person what is T&M
NET
15/30? Couldn't find it on google.
regards,
Hans
On Mon, Oct 12, 2009 at 8:23 AM, Steven Sacks <flash...@stevensacks.net
wrote:
I do not do fixed bid projects. I always do T&M NET 15/30, and
don't have
an issue selling my work that way.
If you want me to do a fixed bid project, I'm bidding on exactly
what the
scope is right now. If there is any change in scope, production
will
stop
as I assess the impact such a change will have on the schedule (my
assessment is billable), and take time to modify the contract to
reflect
the
change in scope and cost, and you will need to review and approve
these
changes in writing, all of which take time spent not developing
and puts
your deadline in jeopardy. However, with T&M, I get paid for the
work I
do,
and you have full flexibility in making as many changes as you
like, with
the knowledge that development never stops, though the deadline
may be
affected by your changes.
Something to that effect.
Kerry Thompson wrote:
Steven Sacks wrote:
You need to charge for time spent babysitting the client. That's
billable
time.
Absolutely true, with one kicker: a fixed bid. A lot of clients
want to
shift the risk to you, the freelancer, so they ask for a fixed-
price bid
rather than an hourly rate.
My advice is to be very, very careful with these. My experience
shows
that
clients rarely, if ever, know just what they need. They will give
you an
idea, but there will inevitably be extras that simply must be done.
Initial
estimates of the amount of work needed are almost always off by a
factor
of
at least two, often up to a factor of 10. If you underbid one of
these
contracts, you could spend a year to earn $20,000.
Be up front with the client in this case. You are bidding on the
project
as it is currently designed. Changes and additions will be billed
extra.
You
must do this to survive, or your client will bury you with feature
creep.
Be positive about it, of course. When they request an additional
feature,
say "Sure, we can do that. It will cost you $4,000 and add two
weeks to
the
schedule. I'll get started on it just as soon as I get an
amendment to
the
contract."
Also, on a fixed-bid contract, get at least 25% up front. If you
bill
only
on milestones, can you live off your savings until they approve the
prototype, or the alpha? I can't--I'm lucky that my wife has a
well-paying
job.
Cordially,
Kerry Thompson
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