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Rising Star
I think it depends on how much control over your schedule you want. In my completely amateur assessment, it seems you would have more control over billing what you want/need if you went with an hourly structure. Project structure strikes me as something they will use to incentivize you to work as much as needed to get the project over the finish line. Projects also have a way of expanding in scope without necessarily expanding in compensation when there’s an agreed-upon flat fee.