10 February, 2016
Here’s more on fixed fee billing:
Partners and managers put a great deal of work analyzing an engagement when it is complete, largely for the purposes of billing. The analysis usually results in writing off 20% or more of the time. If that same work were to go into reaching a clear understanding with the client on the scope of the engagement and on monitoring it in progress, at the very least a better relationship with the client is achieved.
And there is no work required for billing: that’s already agreed! Instead of the tedious work of after-the-fact billing, you spend time working with your client and improving the relationship. What’s not to like?