When a freelancer win a project with the help of freelancing website or other source then next step to provide a final proposal including project cost, number of days to complete(time-frame), hourly rate, full scope of project etc.
The most important is “Estimation of project cost”. There are number of factors to provide a perfect cost, let’s see these factors.
If your estimation is reasonable for any freelance project, you will be on the top of freelancing career. I would like to talk about “how to estimate cost and time-frame of a project in freelancing.”
Time is major fact in freelancing career because competition is very high so find exact number of hours to complete. Once the hours decided, now freelancer can relax. My personal advice try to provide a genuine “”total hours” to the client. A good client can change freelancer earning graph. Its hard to find every time a new project or client but easy to keep happy previous client.
Cost estimation depends on the total time completion of a certain project.
2. Hourly Rate
Every freelancer always thinking to raise hourly rate but stop, hourly rate should be genuine. Don’t increase every week.
Freelance project is always two type
- Hourly based
It depends on client but we are here to discuss “How to estimate project on freelance”. On fixed price job, freelancer can easily provide total estimate.
Like a example- I wan blog website for $500 so in this case freelancer don’t have so many option. If project comes as per your condition go and grab it.
If a project is hourly based then freelancer need to calculate total number of hours and multiply with own hourly rate.
Given below wordpress website project example, please have a look.
Estimation of simple informational website based in WordPress:
Whenever this type of project comes, try to think the process of creating a website using WordPress. Every WordPress expert freelancer knows there are two processes to complete a Wodpress website.
- PSD to wordrpess
- Theme based
PSD to WordPress Method
If client want PSD to WordPress method then freelancer should have create first Html and then integrate with WordPress default theme(I am not going to discuss whole process).
Freelancer should divide the task list.
So total hours need around 40-45 hours that means, freelancer should inform to client about 1 week to complete a simple PSD to a WordPress website.
For cost, multiply hours with hourly rate. If my hourly rate is $20 then total cost will be $800
Freelance project cost= Total number of hours * hourly rate
Freelancer can raise hourly rate if client need the project on urgent basis.
WordPress Theme Based
Theme based wordpress website setup take less time than PSD to WordPress method. By use of wordpress theme, freelancer can create website/blog within one hour. Theme will contain everything, even you can import demo data and just change content and color. Add logo and website is ready.
I will discuss estimation of web based application, Mobile apps, Core PHP website, SEO related work etch on next post. I don’t want to put everything in one post.
Sometime user doesn’t like to read everything in single post.
Summary: Estimation of cost and time-frame is depending on hours and to calculate hours, you have to deep knowledge in that field.