In today’s business world it is essential for businesses of all sizes and shapes to be able to create professional quotations. This can be a daunting task at times, especially if the quotation is for a complicated project. Quotations are very important to your business, because they directly influence the bottom line performance. Many times, we hear of mistakes on quotations that caused a project to cost more than what was anticipated, this causes unnecessary stress. By using a quotation template, you can create professional and accurate quotations with ease.
Creating a project quotation template will help you to avoid mistakes in your future quotations. Using a template in general makes quoting easier, simpler and clearer.
What to include in a project quotation template?
Every project is unique and therefore a template only serves as a guide to help you in creating quotations. There are some basic elements that can be included in every project quotation, these are:
1.) Scope of work
The purpose of this is to ensure that you show a clear understanding of the client’s requirements and needs. This also eliminates future disputes over what exactly the quoted price includes. Here you can include a brief description of the work to be done.
How long will it take to complete the project? Here you can mention the required time for completion of the project. Remember to account for possible delays such as weather and other factors which can influence the timeline of the project.
3.) Payment Terms
Here you can mention the amount you will charge for your work. Remember to include things such as milestone payments or deposits that you may require in order to accept the project. It is important to be clear about your payment terms from the start as this will avoid later disagreements between you and your client.
4.) Terms and Conditions
Here you can mention any specific terms and conditions pertaining to this project. Include things such as provision of materials and any work that has to be done by third parties. This is where you cover yourself against mistakes made by others that can influence your work.