© 3D Panacea.com
3D Panacea will charge a fair price for work for hire and other usage of its services. We firmly believe in pricing a project for what it costs. When we price a project, we will not only consider what we know about the project, but we will also detail what we don't know. We will consider worst-case scenarios, evaluate potential risks and quantify every thing that we believe could impact meeting the goals of the project. When we make an assumption, we will declare it.
When a potential client questions the cost of a project, we will explain the benefits. If the budget is for less money, then we must offer less service. We will avoid the temptation to drop fees to gain jobs; -billing rates will not be negotiated.
Our simple formula for calculating a fair price is :
task x time (complexity x effort) x rate = price
Below is an example of creating a mockup at $70.27/hr. Task is the quantity of the work, e.g. three mockups. Time is the value of complexity multiplied by effort, or hours to perform. This is the trickiest part of the equation as they are unique to every person or agency. For complexity, we will use a three point scale system, 1 being easy or ideal circumstances and taking the normal amount of time, 3 being fairly complex taking 3x the normal amount of time. For effort, we will enter the ideal amount of time it would take us to complete the task, let's say 2 hours to produce one mockup.
So for our example the formula would look like this:
1 mockup x time (1 × 2 hours) x $70.27 = $140.54
Three mockups would look like this:
3 mockup x time (1 × 2 hours) x $70.27 = $421.62
A slightly more complex mockup might look like this:
3 mockup x time (1.5 × 2 hours) x $70.27 = $632.43
And a complex or challenging mockup might look like this:
3 mockup x time (2 × 2 hours) x $70.27 = $843.24
And so on. We will start with a three-point complexity scale using the quarter points if necessary (e.g. 1.25, 1.5, 1.75 etc). .