How We Minimize Cost Creep: Part 1
by Julia Fellows, on Mar 25, 2020
3 minute read
In times of uncertainty, like when there is a global pandemic interrupting the world economy, it's easy to feel confused about the status of your projects. There is one key thing that must be facilitated in order overcome that feeling of confusion: communication.
In this two-part blog series, we will be highlighting some of the ways that Testek Solutions communicates (and over-communicates) to keep you informed of the status of your projects to help you minimize risks, such as cost creep. Part 1 focuses on how we minimize cost creep before your project has even begun; Part 2 will focus on how we minimize cost creep (through methods, such as constant communication) during your project.
A Single Point of Contact
From the point of initial contact and interest, every prospect and customer is assigned to an account manager. This account manager will serve as your single point of contact throughout the business development, requirements definition, and quoting phases of a project, and will stay with you as your project progresses. The account managers will work with you to understand not only your current testing needs, but also the goals you have for your entire operation.
Conversations to Understand Requirements
After an initial call or meeting to comprehend your goals and the basics of your current testing needs, your account manager will immediately involve our application engineers. Together, they will review your statement of work to fully understand your requirements and to determine the best solution for your testing needs. In an ideal situation, our team will get involved before your requirements are fully developed. You will be able to lean on our expertise and experience, allowing our team and your team to collaboratively develop a statement of work that covers every aspect of your testing business.
History-Based Project Estimating
Most of our quotes are based on historical data from previous test systems we have developed and built. Using that approach we are able to more accurately estimate the costs to build the test system. This helps to ensure that we provide a reasonable and competitive quote to our customers, while also factoring in sufficient budget to complete the job without unanticipated cost constraints.
In addition to the historical data on material and labor required for a project, we also look at our Lessons Learned. For each project, the team completes a Lessons Learned document that identifies areas of that project that they would want to do differently the next time around. We try to incorporate these into future designs whenever possible.
When you receive a proposal from your account manager, you will be able to see and easily understand what you are getting. Each formal proposal includes a technical description of the test system, as well as what to expect from us at each stage of the project. After reading the proposal, you should have a clear idea of what is and is not included, allowing you to better plan your budget and schedule for the project.
In the next part of this series, we will be focusing on how Testek Solutions minimizes risk and cost creep after your project is underway.