If you choose to fix a price by an hourly rate you are able to categorize your work in your final invoice. This means that on the occasion where you may have underestimated the amount of work something will take, the client is still able to track your progress. Alternatively you can agree to a lump sum. Lump sum is a gamble because it could either work out in your favor, or you’re left with hours of work unaccounted for in the original lump sum quote. If you are realistic about your goals, this should not be a problem.
Contributor: Caleb Backe from mapleholistics.com