- Annual Contract: This type is for businesses needing ongoing support and strategic advice. They allow for a deeper understanding of the business and more integrated solutions.
- Duration: Yearly with an option for renewal.
- Scope of Work: Broad and ongoing, covering various tasks and responsibilities over the contract period.
- Payment Structure: retainer fee with payments made monthly.
- Flexibility: Allows for adjustments in scope and priorities as business needs evolve.
- Commitment: Provides a stable, long-term relationship between the consultant and the client.
- Deliverables: Minimum includes periodic reports, ongoing support, and continuous improvement initiatives.
- Project-Based Contract: This type of contract is ideal for businesses with specific, one-time needs. It focuses on achieving defined goals within a set timeframe.
- Duration: The project’s timeline could range from a few weeks to several months.
- Scope of Work: Specific and limited to the project’s objectives and deliverables.
- Payment Structure: Usually based on milestones or project completion, with payments tied to specific deliverables.
- Flexibility: Less flexible, as the scope and deliverables are typically fixed at the outset.
- Commitment: Short-term engagement focused on achieving specific project goals.
- Deliverables: Clearly defined deliverables, such as reports, designs, or completed tasks, focusing on project completion.
