Occasionally, defining the scope, specifications, and implementation plans for a project engagement is challenging at the outset. In such cases, it’s often not feasible to estimate the efforts required for all project elements and stages from the beginning.
In these scenarios, billing is based on resource utilization. Each resource is assigned a specific rate, which depends on factors like experience, skills, and role in the project. The effort is billed at this agreed-upon rate (hourly, weekly, monthly) until the project is successfully completed