Fixed vs Pay as you go (PAYG)
If you’re unsure whether to opt for a fixed quote or pay as you go approach - this article explores the pros and cons of each, helping you make an informed decision for your next project.
FIXED
Pros of having a fixed quote:
Predictability: With a fixed quote, you know exactly how much you will have to pay for the project, which can help with budgeting and financial planning.
Clarity: A fixed quote can help to clarify what is included in the project and what isn't, which can reduce the likelihood of misunderstandings or disputes later on.
Accountability: A fixed quote can provide a clear basis for holding the designer accountable to deliver what was agreed upon within the agreed budget.
Cons of having a fixed quote
Limited flexibility: A fixed quote means that you are committed to paying a fixed price for a specific fixed of services, which can limit your ability to make changes or adjustments to the project.
Limited scope: A fixed quote may not cover all the work that you need the designer to do, which may lead to additional costs or delays.
Pressure to stick to the budget: If the project ends up requiring more time or resources than initially estimated, the designer may feel pressure to cut corners in order to stay within the budget, which could compromise the quality of the work.
PAYG
Pros of a pay as you go approach:
Flexibility: A pay as you go approach allows you to adjust the scope of the project and the amount of work being done based on your needs and budget.
Transparency: With a pay as you go approach, you only pay for the work that has been completed, which can provide greater transparency into the cost of the project.
Quality control: With a pay as you go approach, you can assess the quality of the work as it is being completed and make adjustments as needed to ensure that you are satisfied with the final product.
Cons of a pay as you go approach:
Cost uncertainty: A pay as you go approach can make it difficult to estimate the final cost of the project, which can be problematic if you have limited financial resources.
Risk of overages: A pay as you go approach can lead to unexpected costs if the project takes longer or requires more work than initially estimated.
Accountability: A pay as you go approach may make it more difficult to hold the designer accountable to deliver the work within a specific budget or timeframe.
Get in touch
If you would like to discuss your next project, please get in touch.
