You've been working with hourly rates for years or have a client who will only sign off on a contract with a clear hourly breakdown - we get that. With our scoping tool, you have complete flexibility over what you charge for your services and the overall project. Calculate and set your rate by overall project, phase, or individual service.
If you're calculating your hourly rate across the entire project, review the individual services that are included in each phase. Decide the number of hours it will take you to complete the project as a whole.
Configure your price per hour by multiplying your hours by your rate and adding that total into the "Total Project Cost" field. Click "update" to confirm. Note that your cost will proportionately update the remainder of your phases and services.
You can then choose to calculate your hourly rate by phase.
Review each phase of your project to determine the number of hours it will take to complete the services in that phase.
For example, with a rate of $150/hr, the “Email Marketing” portion of the project will take 16 hours. That's a total of $2,400 for this phase.
To adjust the cost of the phase, you'll need to set the price for each of the services based on the number of hours it'll take to complete. In this example, that comes out to 6 hours for email strategies, 6 hours for email templates, and 4 hours for writing the emails.
To do so, calculate the hours of one service, hover over the service, and click the pencil icon to edit. Use the "Price" field to override the Wethos price recommendation and set your calculated hourly rate for this service.
Make this pricing structure clear to your client or teammates by adding an explanation of how you priced the project into the General Terms of the contract. You can find this module on the main Scope page of your project.
If you're in need of a few thought-starters, include any language from our General Terms Recommendations.
Still have questions? We're happy to help!
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