1. When you only know the total project price
A website for 5.000 USD, and that’s it. No time estimates.
If this is your case, pick the Fixed Fee > Total Project Fees in the first step, and enter the total amount you’re going to charge for the project.
Then, in the third step, define the people who are to work on the project along with their roles in; or simply add a single Project work activity and assign people to it.
2. When you know the prices of project activities
Project coordination: 1.000 USD
Wireframes: 2.000 USD
Design: 5.000 USD
Development: 2.000 USD
To enter this information, pick the Fixed Fee > Fees per Activity option in the first step of creating a project.
In the third step, enter the prices for individual activities and assign people.
3. When you know the time estimates of project activities
… but don’t know who’ll be working on the project yet.
Pick the Time Estimates > Hours per Activity option in the first step.
In the third step, define the time estimates of individual project activities and enter the hourly rate that you’re going to charge the client. Finally, add people — feel free to add all, let’s say designers under Design, etc.
4. When you charge the client an hourly rate
This case is applicable when the only thing you’ve agreed on with the client is your hourly rate; and you round up the hours and invoice all tracked time by the end of the month.
Pick the Timesheet option in the first step.
In the third step, enter the project activities and the people who are going to do them. At the same time, enter the hourly rates you charge the client for — these will be used to multiply the tracked hours of your personnel.
This way, you’ll be able to see the current project value on the project card at any time.
Filtering projects by budget type
If you only want to see projects with a specific way of budgeting in the project listing; select it in the new filter and pick some of the four ways mentioned above, e.g. Timesheet.
What other ways of budgeting would you like to see in Costlocker?
We’re going to keep adding new ways of budgeting projects — if there’s a specific way of project budgeting you’d like to see in Costlocker, please let us know at support@costlocker.com.
