Doing business in the 21st century often involves working with digital partners who are located in various corners of the world. As the internet and other technological advances continue to shrink the globe and expand our reach, it’s becoming increasingly common for agencies to utilize a digital partner for various components of projects to reap the best combination of talent, efficiency, and cost. Just be sure that when it comes time to partner with other a digital team for your projects that you’re able to trust potential partners’ estimates on completion time and cost.
The Importance of Good Estimates
Everything that pertains to a project’s completion will proceed from initial time and cost estimates. Budgets will be created, materials & services will be purchased, milestones and delivery dates will be planned, and client expectations will be set. Good digital partners will understand the importance of providing an accurate cost and time estimate, take responsibility for their piece of the project puzzle, and be accountable for holding up their end of the deal. If estimates are incorrect from the beginning, a project will be doomed to failure.
Experience and Accuracy
Experienced partners will also understand the scope of the work that needs to be completed and plan for setbacks that they’ve encountered while collaborating on projects in the past that may have similar traits. That being said, it’s wise to choose partners who’ve worked on projects similar to yours because they’ll have process in place to apply to the project at hand. If a hiccup occurs, they’ll know what they need to do to fix it, and they’ll provide accurate estimates on how much longer it will take to complete.
Perhaps most importantly, experienced partners understand that clients need to be able to make a profit from the finished product. Inaccurate estimates, missed deadlines, and budget overruns will detract from that. An experienced partner knows how much the project costs to do on their end, and is capable of weighing that against the project budget and what it will take to win the effort for the agency partner.
The Planning Process
A good digital partner should have a process in place for creating time and cost estimates just as they would have processes for completing the actual work. A reliable estimation process will take into account many aspects of workflow, such as:
- The time needed to complete individual tasks within the whole project
- The size of the team needed to complete each task
- Internal/external meetings
- The cost of necessary materials
- Quality-control procedures
- Holiday and sick day plan.
- Potential emergencies, accidents, or equipment failure
Neglecting to account for any of these things can lead to a significant increase in time and expense that could cause the entire project to fail.
Efficiency and Accuracy
We believe our understanding of the importance of accurate time and cost estimates puts us a step above our competition. Over a decade operating as an agency partner has taught us the in’s and out’s of what not only the agency needs but what they deal with in the customer relationship. We know that success is not an accident – it must be planned from the beginning of a project. Consequently, we take great care in providing detailed estimates for every project that we accept. More importantly, we’re committed to meeting every time and budget milestone that a client sets. We make sure that our partners always know what to expect and when they can expect it.
- Wednesday June 22, 2016