What Does TM Stand For?

TM stands for Time And Materials

TM, or Time and Materials, is a project costing approach used in contractual agreements where billing is based on the actual time spent on a project and the materials used. This method allows for flexibility in project scope and is often employed in scenarios where the full extent of work cannot be precisely defined upfront. Clients are charged for labor at predetermined hourly rates and for materials at cost, making it suitable for projects that may require adjustments or changes as they progress.

Other Meanings for TM