A Fixed-Price model allows you to leave all of the work to the developers until the product is ready. Time and Material , on the other hand, requires constant supervision of task progress, materials used, and budget spent, as well as frequent meetings with the development team. The FP contract price includes all known risks that can happen during project performance. These risks may occur or may not. Still, the customer always pays for them. The fixed price contract is a precise agreement on a particular time and cost, where a service provider guarantees to deliver the described results on specified terms. Such a system allows service providers to predict project delivery dates, rates, and requirements. The product owner gets a clear picture of the work scope and its pricing. Under TM contract, the customer will pay only for real project work. One doesn’t overpay for the risks which may not occur, but in case they take place, contrary to FP, it’s the customer who bears additional cost...
We will either find a way, or make one.