Contracting
Contracting – Establishing Scope , Fee, Schedule and Payment Terms
Generating Invoices – Timesheets, Sub invoices, Drafts, Finals
Doing the work – Managing staff and sub-consultants and delivering output
Collecting Payment - Diligent, persistent follow-up
Paying Sub-consultants
Weak contract language and scope definitions set your project up for problems before you even get started. A tight scope makes it easier to identify out of scope requests and allow you to protect your margins and provide a consistent client service approach. Make project descriptive language tight and consistent in all forms of communication –proposals, interview, contracts, team meetings, project reports, etc. Clarify the billing process right up front. Who gets invoices? What format does the client require? What other requirements exist (like registering as a vendor or using a portal). Get those details into your billing system. Ask for retainers – especially from new clients. You won’t get one if you don’t ask.
THE PRINCIPALS ACADEMY 2022
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