How To Get Project Pricing Right

How To Get Project Pricing Right

Many try to avoid the subject of project pricing. Indeed, pricing can often involve conversations that some consider uncomfortable. And the stakes can be quite high. After all, small pricing details decided today can have profound consequences tomorrow. But with some sound advice, pricing doesn’t have to remain such a difficult subject. Here’s how to get project pricing right.

  1.   Make an internal estimate: Create a spreadsheet with a full estimate. Have every member of your team input low and high values, along with a “confidence” variable that indicates how certain the estimate is.
  2.   Client estimate: Use your internal spreadsheet to calculate a client estimate. List out each division of the work e.g. planning, design and development.
  3.   Timeline: Along with the client estimate, provide a timeline. What are the important dates for deliverables? Provide this data up front.
  4.   Options: Clients like choices. But not too many. For example, it can be useful to provide an option for a quicker delivery and one for additional features.
  5.   Smart invoices: Send invoices on time and when promised. And be sure to answer any client questions as they arise.

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