Summary
Expect to learn how breaking down complex projects into stages is a strategy to gain confidence in pricing, ensuring that the aggregate amount for the entire project is fair.
3 Key Takeaways from this Video
- Breakdown complex projects: Break down complex projects into stages with base amounts and factors for each phase.
- Confidence in aggregate pricing: By analyzing and combining pricing elements from different stages, confidence can be gained in determining a fair aggregate amount for the entire project.
- Structured and transparent pricing: Breaking projects into stages provides a structured and manageable approach to pricing complex matters, ensuring clarity and transparency for both the lawyer and the client.
Transcript
0:05 In complex matters that are going to go on for a long period of time, there's always, virtually always stages to it.
0:15 And so one way to get comfortable with pricing is to break it down into the stages and look at base amounts, say for each phase and factors for each phase and to build them all together into say four, or five, or six different phases to a long complex project.
0:34 And that'll allow you to have confidence set by the time you've priced the whole project that the aggregate amount is is probably pretty fair.