Managing Modifiers

Managing Modifiers

Step-by-Step Instruction Article: Managing Modifiers

• Modifiers allow customers to consider both internal and external factors that may impact the pricing of a project.

• These modifiers help customers be intentional and systematic in their approach to value-based considerations.

• As a pricing officer and admin, you have access to the modifier management section in the software.

• This is where you can manage, edit, update, and add modifiers.

• AltFee provides around 20 modifier templates to start with. All of these templates are editable.

• You can also create new modifiers from scratch and customize them to suit your specific needs.

• Let's take an example of a modifier called "Project Enjoyment" to understand its structure.

• It includes a name, description, and options that affect the pricing by a percentage increase or decrease.

• The options can be positive or negative numbers based on how much you enjoy working on a particular project.

• Modifiers can have three different states: not in use, available but not default, and default for all matters.

• The status of a modifier determines whether the modifier is considered by default or requires manual selection.

• When working on a matter, you can see the original factors and the existing scope and pricing.

• After scoping the project, you can apply modifiers to consider value-based factors.

• Default modifiers are automatically available, and you can access additional ones if made available for all matters.

• You can select a modifier, such as "Project Urgency" or "Project Enjoyment," and choose the appropriate option.

• By selecting modifiers, you can see how they impact the pricing in conjunction with the base fee factors.

• The total dollar amount reflects the combined effect of the internal scoping and the value-based considerations.

• Modifiers provide an opportunity to be systematic and consistent in considering important factors for different project types.

• It is encouraged to utilize modifiers and ensure a thoughtful evaluation of value-based considerations.