A project estimate is powerful, offers many benefits, and contributes to project success. But what are the key elements of a great estimate?
The success of any project depends on a variety of factors. Do you have a plan? Do you have the right employees? Do you have enough money? Do you…?
Project estimates are one piece of that puzzle.
Project estimates kickstart good practices, ensure you and your client grasp the work involved, and help determine whether a project is viable.
What’s the Difference Between an Estimate, Quote, Bid and Proposal?On top of these benefits, they improve budget allocation, aid in determining cash flow needs, assist in getting sponsors, and help establish timelines.
But capturing these benefits requires that you create a great estimate to start. In this post, we’ll reveal 7 key components of a killer project estimate.
Let’s jump into it.
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about the author
Nick Darlington is a FreshBooks customer and small business owner who's been running a writing business for close to 4 years now from his home in sunny South Africa. When he’s not sharing his knowledge and experience about how to successfully run, manage, and grow a small service business, he’s helping aspiring and established writers succeed at WriteWorldwide.