How to Write Winning Project Quotations and Cost Estimates (Free Generator)

The Difference Between an Estimate and a Quotation

• Cost Estimate: An approximate assessment of projected costs based on initial discovery. Subject to change as requirements evolve.
• Fixed Quotation: A formal, fixed-price commercial offer. Once the client signs, the contractor cannot change the price unless the project scope changes.

Key Elements of a Professional Quotation

1. Quotation Validity Period: (e.g., "Valid for 30 days from issue date"). Protects your profit margins against rising subcontractor costs or hardware inflation.
2. Explicit Scope of Deliverables: Define exactly what is included—and explicitly what is excluded (out of scope).
3. Milestone Schedule: Breakdown: 40% upfront deposit, 30% upon beta delivery, 30% upon deployment.

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