Fixed Fee: A set price is established for the entire project. This pricing model also presents an opportunity to collect the fee in installments for longer projects, rather than waiting until completion for payment. Clients usually like this pricing model because they know what they are getting, without surprises. The danger for providers is that there is limited recourse if the project gets bigger or the scope changes in some way. Should the scope grow too much, providers should be prepared to renegotiate. Time for money: There are two models that fall under the time for money option. First, agreeing on a set rate (usually hourly, but could be daily or monthly) to deliver services at a predetermined amount of time. This could be $50 per hour or perhaps $1,000 per day. The second model also has a quoted set rate, but without constraints on the amount of time it takes to complete the project. Providers usually like this because it prevents a problem should the scope of the job change. However, clients are sometimes nervous because it leaves the clock open to project overruns and takes away control.