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Additional info for Business and Legal Forms for Industrial Designers
In the event you have already assigned this project a number, fill it in. Most of this information is also found on the job information sheet (which is not usually seen by the design staff); it is easy to simply copy and paste the areas, as appropriate. Two options are offered here. One, is to estimate the project by the various competencies or departments that will be participating in its development, such as executive management, research and development, engineering, design, etc. The second is by phase of work, whereby the development of a project is organized by stages of development.
Additionally, it is useful to know how nonbillable time is being used. Naturally, it is important to have an accurate record for jobs billed by the hour, mostly to ensure that all billable time is reimbursed, and partly in the event the client requests an audit of timekeeping records. Time records should also be kept for projects that are billed on a non-hourly basis. A flat fee, whether based on a percentage of the cost of the project, royalties, or a highly defined estimate of costs and time, has to cover at least the amount of time to be spent on a project, with a markup to include profit and overhead expenses.
Very often, subcontractors are either directly affected by specific changes on a project or they simply need to know whether the work is proceeding according to schedule. Industrial design projects have critical deadlines and it is important for all involved to know how their contribution fits into the overall scheme. It cannot be overestimated that clear, timely, and accurate communications are essential to the success of team-based projects. 57 Form 09 05/01/2005 19:53 PM Page 58 BUSINESS AND LEGAL FORMS FOR INDUSTRIAL DESIGNERS Project Status Report Job No.