What does T&M mean in construction?
Short definition
T&M is a pricing method based on labor time, material costs, equipment, and agreed markups.
Longer explanation
Time and materials work is often used when scope is uncertain, urgent, or difficult to price as a fixed amount before work begins.
Example in context
“The project team reviewed the T&M during the construction phase.”
Common users
- Owners
- Architects
- Contractors
- Construction managers
Related terms
Related resources
Construction Change Management TermsTerms used to identify, price, direct, approve, and record construction changes.CCD vs Change OrderCompare a construction change directive with a formal change order.Construction Change Order ProcessA field-tested overview of how construction changes are identified, priced, approved, and recorded.Change Order Log TemplateA practical structure for tracking construction change requests, directives, approvals, and contract adjustments.