To access Estimates, you must first enable Rate Cards in your Account Settings.
Estimating the cost of upcoming projects can be difficult, especially as the scale and complexity increase. Faulty estimates can cause resource shortages and exceeded budgets, which lower your profit margins. Accurate resource estimates and margin projections are a crucial part of initiating a successful project that keeps your teams thriving.
Fortunately, Mavenlink’s Estimates gives you the ability to create multiple staffing (or resource allocation) scenarios for each project. Selecting predefined roles and Rate Cards makes it easier to model margins and compare staff options across multiple scenarios.
This functionality simplifies the estimation process and eliminates the guesswork necessary to make accurate financial projections for potential and/or future projects.
Before you begin, you'll need to figure out your target margin, project budget, and resource needs so you have a better understanding of what needs to be delivered and the resources required to work on the project.
This way you can both produce a project estimate that will both be an informed business decision and “win the deal” with your new client.
The main Estimates page consists of an alphabetical list of your current estimates that display basic information about the client, creator, number of scenarios, and related actions. We recommend creating new estimates for each opportunity you have; individual estimates can later be turned into projects.
The Estimates list allows the following actions:
- Delete (“
Note: You cannot delete a locked estimate; this occurs when a project has been created from one of your scenarios. When an estimate is locked, none of the scenarios, resources, or allocations can be updated or deleted.
- Clone Estimate (“
Note: You are currently unable to change the Client or Currency in cloned estimates. Therefore, if you need these to be different, you’ll need to create a new estimate.
- New Estimate—This button opens the Create a New Estimate page, where you must provide the estimate name, the client, and the start date. You may also configure financial information for your new opportunity. When a new estimate is created, your first scenario is also created.
- Estimates Overview
- Estimates Workbook