Similar to design scheduling, the design process for the project is divided into specific tasks. Each task is assigned an estimated amount of time allotted for each task. Tasks are associated with particular hourly rates, then the allotted hours are multiplied by the hourly rate to determine the budgeted amount for each estimated design task.
Adding up all of the budgeted tasks becomes the total net budget.
Other items are often added like a contingency buffer, additional material and labor costs, mark-ups, as well as an additional profit margin, to comprise the final gross budget.
Here is a template you can use to create your own Project Estimate:
Keep track of the hours as you work on the Empowerment Design project.
We will use the tally to create a final Invoice for the project, as well as a Profit Analysis to see how profitable a designer you are.
