Attribute Based Pricing Overview

Attribute based pricing decouples cost estimation from the pricing journey, enabling you to manage each process independently. This provides greater control over margins on your estimates, and enables you to price estimates based off of perceived value. With cost and price not being correlated, estimators have the ability to set a static price that doesn't increase or decrease when changes are made to the hours, or the addition of role requests, for example. This means estimators are able to optimize delivery, with greater control over pricing at a more granular (line set) level.

Pricing Managers are able to use Guided Scoping to manage attributes by creating requirements and responses with conditions that trigger pricing adjustments, enabling more strategic pricing to increase revenue.

To use Attribute based pricing, we recommend using the following features:

• The Baseline pricing method. For more information, see Estimate Pricing Method Overview.
• Estimate Templates. For more information, see Creating an Estimate Template.
• Guided Scoping. For more information, see Guided Scoping Overview.
• Pricing Modifiers. For more information, see Estimate Pricing Modifiers Overview.

We recommend the following journey to set up Attribute Based Pricing on your estimates:

• Create a template using the Baseline pricing method and define the Baseline price at line set level.
• Set up Guided Scoping to scope the attributes that will be required on the estimate. Additionally, use scoping actions to influence the price. We recommend using Pricing Modifiers to reflect attributes that impact your estimate's price.

We recommend the following journey to use Attribute Based Pricing on your estimate:

• Scope your estimate using Guided Scoping. Create a scoping session and answer requirements associated with the necessary estimate products. Then, create your estimate.

• Alternatively, create your estimate manually:

  • Set estimate products and independent records pricing methods to Baseline.
  • Utilize the Baseline price as set in the template, or modify it directly on the line set.
  • Use Pricing Modifiers to affect the price.

Your cost will remain constant unless you decide to update it.

Note:

Additional costs on your estimate such as Contingency, Services Products, and Vendor Line Items do impact your estimate's overall price.