|How do you calculate budgets for a design project?
Depends how intricate the project is.
I'm very meticulous when it comes to working out costs. I carefully work out how much I will need for fabric, time etc. and then I budget in a little extra just to be sure I don't fall short.
Done properly (the client rarely agrees) some knowledge of market size (actually collected data, not anecdotal, "oohh, everyone I spoke to likes it"), knowledge of market acceptance, price point and price sensitivity should yield an approximate revenue. From this we can work backwards the manufactured cost the return on investment and the design budget. The greatest challenge and fun is derived from adding the greatest user value within the budget constraints to deliver a competitive edge for the client
Estimates from subs and historical information.
I have hourly rates that I try to hit internally but I quote every project by that project. How big is the client? Who is the demographic? Etc...
depend on project
I base the amount of time I think it will take and add extra. There are always changes to be made and tweaks here and there.
By hour, i know how long time somethings take to do. Beeing realistic about all the time i put into a job
Practical example of calculating:
I simply look into my wallet and then I buy Fabriano paper/buy usual paper/buy nothing.
It is always a difficult question. So I just ask my husband, what do you think how much it will cost. ;) As a rule, he said the price of the situation adequately, or says that this customer is better not to work. Practice shows that it is always right
well thats a hard question to answer due to the fact that i dont make the budget its up to the customer what there budget is and how much they are willing to spend to make there concept into a design and then go forward into production
i calculate my budget based on time
I create a line itemed budget by room that is a high-low of each individual item I recommend to complete a room. I meet with the client to discuss its feasibility, prioritize & edit from there. I do the budget & get client approval before I begin any design.
Always depends on the size of the project, but by tasks is always effective
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