In this model, Project Manager works closely with clients and their Product Managers to define the requirements at concrete level and prepares the design specs. In this stage, Project Manager creates the Project schedule and Time estimation for further development for the proposed solution. In this model, all the resources are charged according to their requirements in the project development. With the Time & Material based development, small modules of 2-3 weeks are released periodically and feedback is received from the client regarding the performance.