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What is a Management Dashboard?
The term Management Dashboard defines a wide range of data reporting and visualization tools or dashboards that allow using various performance & efficiency measures to report on an enterprise’s ability to organize and coordinate its activities in accordance with certain policies and in achievement of pre-determined objectives. What is a Management Dashboard?
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Money Management Action Plan

In this Money Management Action Plan you can read a range of tips and suggestions that will help you manage your money in an effective manner.

Money Management Action Plan
Home » Glossary » What is Project Pricing
What is Project Pricing  

What is Project Pricing


Project Pricing means a model in which you are going to estimate costs of the project, appraise its monetary worth, and bill for the project. Usually project price is paid by the project customer to the project performer (contractor) – this is a compensation for the work accomplished and it involves a lot of different factors, such as hourly rates of workers, costs for materials, amounts of labour, risks, difficulty of project tasks, etc.

There are different pricing models, including:

  • Fixed Price Model: the price for a project consists of the project costs plus certain markup added by the contractor. This model works effectively when a project is characterized by well-defined requirements and well-elaborated plan – probably it is a standardized or recurring project.
  • Time and Material Price Model: the price for a project is reasoned by a unique amount of labour and materials consumed. This model works well for a flexible and agile project execution where the client requires a great portion of individualized approach.
  • Milestone-based Price Model: this way of project pricing is based upon a concept of progressive payments and is managed through progress monitoring by the customer who pays according to a visible milestone achieved and appraised level of progress done.

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