After providing initial information in the Create a New Estimate page, your new estimate will appear alphabetically in the main estimates list. Clicking on the name of an estimate in the list will open the estimate scenarios page where you can provide more detailed information.
If the scenarios page is flagged as LOCKED, it means that a project has been created from one of your scenarios. When locked, the estimate can not be updated or deleted. This way, you can check the accuracy of the original estimate by comparing it to the results of the project delivered. If the estimate were not locked, the values would be updated with the latest cost values, not those used when the project was created from the estimate.
You can provide the following information on the main estimates page:
When adding a new resource, you must provide a Role, Resource Placeholder, Geography, (Organizations only), Start Date using the provided fields and drop-down menus. See below to learn more about the individual settings and options.
The scenario page is prefaced by the main estimate and client name, followed by the Details toolbar and potential resources.
- Delete—Removes the current scenario. When locked, the scenarios can not be deleted.
- Add Scenario—Clicking this button allows you to add up to five new scenarios.
- Clone Scenario—By duplicating data from existing scenarios, you can create new estimates with different resource demands and costs. This will retain information you want shared across scenarios while allowing you to adjust variables such as Start Date, Rate Card, resources, allocation percentages, and more to see how it impacts your profit margin compared to other scenarios.
The Details header bar allows you to adjust basic information for each of your scenarios individually.
- Start Date—By default, the Start Date in the calendar picker assumes today’s date. The Start Date is the anchor that all allocation date ranges refer to. Providing a Start Date makes it easier to calculate projected fees and helps when converting the allocation to planned hours. Once an estimate becomes a project, the Start Date helps you better understand who is needed and when.
- Budget—Provide an initial rough budgetary estimate of the resource costs to complete a project.The more accurate your estimate of project cost is, the better able you will be to manage your project’s budget. The budget is carreid over
- Rate Card—Use this drop-down menu to select from one of your previously-created rate cards; otherwise, the Account Rate Card is selected by default. For more information, please see our Rate Card article.
- Add Resource—To provide an accurate estimate, you must first create a list of resource placeholders. To do this, click the Add Resource button. A new line will appear in the resources list. Continue adding resources as needed; doing so will populate your projects that are created from this estimate.
- Role—Selecting a role will help you accurately plan you how much a project will cost. Click inside a blank Role field to open a scrollable drop-down menu pre-populated with the roles created in your Settings > Roles.
Resource Placeholder—Adding resource placeholders to your estimate helps you to distinguish between resources that have the same role. For example, a project may require five engineers; you can define five unique placeholders and assign these resources to an actual person when you creatie a project from the estimate. The Resource Placeholder defaults to the Role name.
Geography—Users with Organizations enabled can specify the region where the project will take place. Providing a Geography will affect the estimated cost rate of resources. If no region is designated, the cost ends up being the average cost of all users whose Account Role matches the resource Role. When Geography is specified, it limits the average cost to users in that region. This information doesn’t carry over when creating a project from an estimate since the resources are then assigned to an actual person and their costs.
Start—Indicate which day of the project’s Duration that this resource should start.
Duration—Indicate how many days this resource is expected to work on the project.
Allocation—Determine what percentage of this resource’s time will be soft-allocated to the project.
The remainder of this table contains non-editable fields where the project Hours, Cost Rate, Bill Rate, Estimated Cost, and Estimated Fees are calculated.
- Hours is calculated currently based on a 40 hour week and the % allocation.
- The Bill Rate comes from the Resource's role and the rate card version that is active during the time of the project. If the duration of this Resource's time goes across multiple versions of the rate card, that is taken into account.
- Estimated cost is the total cost (hours*cost rate).
- Estimated fees are the total fees (hours * bill rate).
- Delete (“
- Create Project—Click this button to create a project from an estimate.
- Estimates Overview
- Estimates Workbook