No, when you choose between firm fixed price vs time and materials, keep in mind that time and material (T&M) contracts are not fixed price. In a T&M contract, clients are billed according to the actual time invested by the project team and the tangible materials consumed during project execution. This model is characterized by flexibility and adjustability, accommodating changes and refinements to the project scope as it develops, in contrast to fixed price models where the project cost is pre-determined and fixed from the outset.