|How do you calculate budgets for a design project?
I have a base rate for each service, then based on project specifics add accordingly (how long specific details will take to do...etc)
I determine price by skills, material, and hard work.
Experience mostly, depending on the scope, and the value it will bring to the client.
Providing clients with a fixed budget for concept and design is possible due to the wide variety of projects we have covered. We ask clients at the initial contact meeting to provide us with a rating of the importance of the project to them and the anticipated budget for the whole project. We discuss our views on the importance on the design process to the overall project and aim to reach general agreement with the client on the level of expenditure for that part of the project.
Once a budget figure is reached we discuss alternative options such as a lump sum quote, hourly rates or a success fee. The client chooses the option that best suits, based on their risk adversity or best outcome need.
We encouage our clients to do the first and we lead in the second....
http://www.youtube.com/watch?v=xFUli7Ne4o4 Slide Show
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Budgets are based on the information a client provides up front, the more detailed information the better. I can show clients projects that I've completed and tell them what the investment for that particular remodel was, but each project is specific to the materials that client ultimately chooses.
Experience and scope of the project.
Like everyone else, I completely pull it out of thin air based on how hard I think it will be to come up with an effective solution.
I spent a lot of time researching design costs, print work costs, and trying to figure out how much my time is worth. I have set pricing for wedding invitations (well ballpark, every design is different) and then for corporate design work I charge hourly.
according to how deep the client needs us to dig onto the case, how difficult is the case and how big is the budget from our respected client
Past experience and knowledge of current pricing for various Trades.
Let the force be with you.
By now it's intuitive although I do ask a lot of questions first.
i usually use a flat fee based on the prices i've given to visual art pieces i've created. thats the starting point and clients are more accepting of paying higher fees when they realize they are paying for the artistic merit i bring to the table and dont just see me as some freelance designer indistinguishable from the field.
It all comes down to costs. What the materials cost is one thing, but then you also have to factor in your own time working on something. That usually goes out the door, haha! If you're dealing with a large production from a manufacturer, you have your price from the factory, but also the shipping and import cost to figure before you can arrive at the total cost, and then calculate the suggested retail price.
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