I have been working for a large PC systems manufacturer for 9 years, and have spent the last three in the networks department as a Project Manager, handling large and small Network projects (Microsoft servers and PCs, 3Com and Intel network hardware), and am skilled in design and support too.
I have just been offered the opportunity to Project Manage a new contract outside of work, and am considering taking it on.
The thing is, I have never been involved in the billing side of this before. I would have Management control of the project from start to finish, and the total value of the project is ?500,000.
How should I go about billing for my time? should I charge a flat fee, or a percentage of the project value? Is it ethical to include completion bonuses for myself if this is completed on time and under budget?
I’d appreciate any advice. Being cosseted within the warm bosom of a company is not helpful when you want to start out on your own.
Cheers!