What are the key factors to consider when estimating the value of your scope and deliverables?

1 Define your scope and deliverables clearly

The first step to estimate the value of your scope and deliverables is to define them clearly and precisely. This means you need to specify the scope of work, the deliverables, the quality standards, the timelines, the milestones, the dependencies, the assumptions, and the exclusions. By doing this, you avoid ambiguity, confusion, and scope creep, which can lead to disputes, delays, and extra costs. You also establish a clear baseline for measuring your performance and value.

2 Align your scope and deliverables with the client's needs and expectations

The second step to estimate the value of your scope and deliverables is to align them with the client's needs and expectations. This means you need to understand the client's goals, problems, preferences, and constraints, and tailor your scope and deliverables accordingly. By doing this, you demonstrate your understanding, relevance, and value proposition, and create a positive impression and trust. You also increase the likelihood of meeting or exceeding the client's expectations and satisfaction.

3 Estimate the costs and benefits of your scope and deliverables

The third step to estimate the value of your scope and deliverables is to estimate the costs and benefits of your work. This means you need to calculate the direct and indirect costs of your scope and deliverables, such as labor, materials, equipment, overhead, and contingencies. You also need to estimate the benefits of your scope and deliverables, such as revenue, savings, quality, efficiency, and satisfaction. By doing this, you determine the profitability and feasibility of your work, and identify the areas where you can add value or reduce costs.

4 Compare your scope and deliverables with the market and the competition

The fourth step to estimate the value of your scope and deliverables is to compare them with the market and the competition. This means you need to research the market rates, trends, and demand for your type of work, and the scope and deliverables offered by your competitors. By doing this, you benchmark your work and position yourself in the market, and identify the gaps, opportunities, and threats. You also determine your competitive advantage and differentiation, and justify your pricing and value.

5 Communicate your scope and deliverables effectively and confidently

The fifth step to estimate the value of your scope and deliverables is to communicate them effectively and confidently to the client. This means you need to present your scope and deliverables in a clear, concise, and compelling way, using visual aids, testimonials, and case studies. You also need to highlight the benefits, value, and outcomes of your work, and address the client's concerns, objections, and questions. By doing this, you persuade the client of your credibility, professionalism, and value, and influence their decision and perception.

6 Negotiate your scope and deliverables strategically and flexibly

The sixth and final step to estimate the value of your scope and deliverables is to negotiate them strategically and flexibly with the client. This means you need to prepare your best and worst case scenarios, your BATNA (best alternative to a negotiated agreement), and your walk-away point. You also need to listen to the client's needs and interests, and propose solutions that create value for both parties. By doing this, you aim for a win-win outcome, and avoid compromising your quality, reputation, and relationship.