The PMI: Pulse of the Profession 2017 found out that organizations have completed 60% of their projects within the original budget. Speaking of budgets, every company has a budget for their projects. And the moment that they will need your services, they will ask for work estimates. Also, estimates will help the clients check how much the project will cost. On the other hand, if a client requests an estimate, you can quickly save time issuing it by using our first-rate collection of Work Estimate Templates. These are printable and editable. What are you waiting for? Download a template now!
What Is a Work Estimate?
A work estimate is a document that service providers give their clients to show the estimated services' prices. Clients can use work estimates to understand how a service provider will complete the work.
How to Create a Work Estimate
Making a work estimate doesn't have to stress you out. It takes only several steps to complete your cost estimate. So, start your job estimate for your clients with the help of the tips below.
1. Incorporate Your Brand
Like creating a sample quotation, invoice, or other documents, you need to include your branding on your estimate. The way you show your estimate document can affect how the clients will perceive you. So, you need to show your professionalism and credibility through your work estimate's look. To do this, ensure that your letterhead is visible and is in high-quality. Make sure that you don't use too many colors or typography, or else your document will end up looking cheap.
2. Include the Breakdown Materials and Labor
In your project estimation, you should show a breakdown of the materials and the labor that you will provide to complete the project. For example, list the services you offer (painting, landscaping, etc.) and their estimated prices. Additionally, be sure to do your research first before writing the prices of your materials on the simple estimate.
3. Input an Estimated Timeline
You have to give your clients the estimated project timeline and the completion schedules. By providing these, your clients will know when they should expect the completion of the tasks. Don't write unrealistic dates and timelines, or you'll end up disappointing your clients.
4. Write the Total Cost
Lastly, don't forget to add the total cost of the estimated prices. Always include the sales tax on your calculations, as well. Additionally, write the payment terms and deadlines on the form to avoid disputes.
