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Best kind of contract for ongoing jobs

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Community Guru
Eric B Member Since: Feb 21, 2017
1 of 5

Hi,

 

What do you think the best kind of contract for ongoing jobs is?

- fixed price contract + milestones?

or 

- hourly contract with manually added hours?

 

Thank you. 

 

 

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Community Guru
Phyllis G Member Since: Sep 8, 2016
2 of 5

It depends on the work, the pace, the increments for deliverables, the client's preferences, the FL's preferences... I have had successful and profitable long-term engagements using both contract types. And I've had projects of both types go sideways or at least, not work out as well as they could have under the other model. 

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Community Guru
Eric B Member Since: Feb 21, 2017
3 of 5

Phyllis G wrote:

It depends on the work, the pace, the increments for deliverables, the client's preferences, the FL's preferences... I have had successful and profitable long-term engagements using both contract types. And I've had projects of both types go sideways or at least, not work out as well as they could have under the other model. 


Thank you Phyllis to share your experience. 

 

The fact is that I have 2 of them, one hourly contract with 2-3 jobs a month and another fixed price contract with just 1 job a month. I tend to think that hourly contracts are explainable when there is a certain frecuency and the fixed price contracts when there is not so much frecuency.

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Community Guru
Preston H Member Since: Nov 24, 2014
4 of 5

re: "What do you think the best kind of contract for ongoing jobs is?"

 

Hourly.

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Community Guru
Jennifer M Member Since: May 17, 2015
5 of 5

I prefer hourly but I don't use manual time. I think escrow would be better if you want to use manual time.

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