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📐freelance

Project Estimate

Estimate freelance project hours properly so you stop underquoting your work.

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How it works

Most freelancers lose money on projects they underquoted, and the cause is almost always estimating a whole project as one optimistic lump. This template walks through a structured estimate: pin down the scope before quoting, break the work into tasks small enough to estimate honestly, total the hours, add a contingency buffer for the things that always go wrong, and translate the result into a client-ready quote. Track your actual hours against it as you work, and every project makes your next estimate sharper.

What you get (7 tasks)

  • Clarify the scope before estimating anythinghigh~30m

    List the exact deliverables, revision rounds, who provides assets, and what done looks like. Do not estimate a project you do not fully understand yet.

    #scoping
  • Break the project into tasks you can picturehigh~30m

    Split the work into pieces small enough to estimate honestly. A task too big to picture is one you will optimistically underestimate.

    #scoping
  • Estimate each task in work hourshigh~30m

    Put an hours figure on every task, including communication, revisions, setup, and final QA. These are the line items lump estimates always drop.

    #estimate
  • Add a contingency buffermedium~10m

    Add fifteen to thirty percent on top of the total, or multiply a gut estimate by 1.5 if you have no tracked history yet. This corrects for the planning fallacy.

    #estimate
  • Convert work hours into calendar timemedium~15m

    Focused work hours are not delivery time. Factor in your other clients and the client review cycles to set a realistic deadline.

    #estimate
  • Write the quote and send ithigh~30m

    Turn the buffered estimate into a client-ready number: a range for hourly work, a single price for fixed-fee. State clearly what is in scope.

    #client
  • After delivery: compare estimate to actual hoursmedium~15m

    Review the hours you tracked against what you estimated. The gap is the lesson that makes your next quote more accurate.

    #review

When to use this

  • Stop underquoting by estimating tasks instead of guessing a lump sum
  • Make the invisible work visible: calls, revisions, admin, handoff
  • Add the right contingency buffer instead of quoting the best-case day
  • Build a record of estimate versus actual that improves every future quote

Frequently asked

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