And you get paid for actual work done, even if it takes longer or is more expensive than you first thought. This gives the client flexibility, as they can change their mind and make changes as the project progresses. “A time and materials type of estimate where the client agrees to pay based upon the time spent, and for materials (plus mark up), no matter how much work is required.” In this article, we’ll explore a better way to track and report on project budgets, to ensure you’re not spending any more time than you absolutely need to.īut first, a quick refresher on what your budget should include.Īs a starting point, The Digital Project Manager explains that there are two key types of project budgets: Time and materials And as we’ll see, the issues largely come from a mix of unclear budgeting processes and tools that weren’t built for the job. There will be mistakes, they will lead to disagreements, and you will be working on the weekend.Ĭhief among these administrative headaches is project budget tracking. No matter how often you go through this process, the admin always takes longer than you’d like. Plus the one thing that every client truly cares about: where their money is going. Usually that’s the administrative side: writing reports, answering emails, and lots of meetings. It’s the stuff you want to do.Īnd then there’s the stuff you have to do. That’s usually why you get into the work. There’s the fun stuff: brainstorming, drawing up plans, creating prototypes, and actually building something. Any form of client-facing work is always a double-edged sword.
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