project-based fee
A single price quoted for a defined project with a clear start, end and set of deliverables.
Definition
A project-based fee covers one piece of work, such as a brand identity, a website or a campaign. It is agreed before work begins and tied to a scope of work, often with payments in stages. Clients like the certainty; agencies need clear scope to price safely. The risks are scope creep and rushed work if the estimate was too low. Changes should go through change orders. It suits well-defined work with a finish line, while ongoing needs usually fit retainers better.
In a sentence
The agency quoted a project-based fee for the website redesign.
Payments were split into three milestones.
