Use a fixed price, estimated resources, or both to set the price of a task in Drum. Choose the method that matches how you want to price the work.
Before you begin
Have the budget editor open with a deliverable and task already created. For a proposal budget, see How to Set Up a Project Budget. If you are pricing from resources, you will also need estimated hours and billable rates for the task.
Set a fixed price
Use this method when you want to enter the task price directly without building an estimate from resources.
Find the calculator icon beside the task’s item type. If it is blue, click it so it turns grey. Grey indicates fixed-price mode.
Enter the task’s quantity and select its unit type.
Enter the price in Rate / Contract.
Check that the task’s Total matches your intended price. If the task has no estimated resources, its Budget and Contract should both equal that total.
For example, suppose you agree to charge $8,600 for a Concept Design task. A quantity of 1, unit Per Item and Rate / Contract of $8,600 produces an $8,600 total.
This sample Concept Design task has an $8,600 fixed price and no resource estimates, so Budget and Contract are equal.
Calculate a task price from resources
Use dynamic pricing when the task value should follow your resourcing estimate.
Leave the task’s calculator icon blue for Dynamic pricing (from resources).
Add resource estimates beneath the task and enter their hours.
Check each resource’s billable rate. These rates are set by the rate card allocated to the fee proposal, budget or project.
Check that the task total equals the sum of the estimated resource values.
For example, suppose a Construction Documentation task has resource estimates worth $9,600 and $6,000. Dynamic pricing sets its total to $15,600.
This sample Construction Documentation task totals $15,600 from its resource estimates. Budget and Contract are both $15,600.
Keep a separate internal budget and fixed contract value
Use this method when you want your team to work towards a resourcing budget while charging a separately agreed price.
Set the task to fixed-price mode using the calculator icon; it should be grey.
Include estimated resources beneath the task, with their hours and billable rates.
Enter the task’s fixed quantity, unit and price in the task row.
Check Budget against the resource estimate and Contract against the fixed price. Check Buffer for the difference.
For example, suppose a Schematic Design task has an internal resourcing budget of $16,480 and an agreed client price of $19,500. Setting that fixed price leaves a $3,020 buffer.
This sample Schematic Design task keeps its $16,480 resource budget alongside a separate $19,500 contract value.
For the detailed calculation and the reasons these values can differ, see How project budgets are built in Drum.