Project Specification and Terms

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Example Project Specification & Terms of Engagement.
Harfield House
OX11 0JG
Company X
Contact: Mark Broerse
0788 75 75 700
Contact: Name
Agreed:                        Date: Agreed:                                   Date:
Project Scope: To contact and review the current client base with a view to increasing repeat business and changing the business model from project based, to a greater % of recurring revenues.
Time-scales: 15 days over initial period of 3 months, to be reviewed monthly.
Success: Achieve new product/route to market definitions and initial prospect pipeline equating to 5% of current yearly turnover.
Current Average Order value: £2500 (Or equivalent monthly recurring)
Sales Cycle: 2 Months
Net Profit Margin: 45% reducing to 30% with new channel structure
Full report on client contact, market analysis, recommendations
Modelling of margin/profit/ cash flow modelling.
Pipeline document detailing current prospects (on-going).
Fees/Commitment: 5 man days per month at £XXX day rate. (<= predicted increase in NP)
1-2 man days / month at reduced rate / profit share on-going sales development activity.
Initial 3 days to be paid on completion at standard day rate. (£XXX)
Subsequent fees to be invoiced monthly and paid within 15 days, at agreed day rate.
Milestones: Week1: Model new CFF and detailed targets
Month1: Approach selected prospect clients and define new product/route to market, against agreed and documented project plan.
Month2: Migrate current and new clients to recurring revenue model
Month3: Direct field sales / channel development activity
Commitment: Both parties agree to allocate required time and materials to the project according to the following:
Week 1 intensive review of historical figures and client data base – 1 days
Week 1 development of client facing product / channel strategy – 1.5 days
Week 2 production and agreement of key measurable milestones / targets / goals – 1.5 days
Week 2 client / channel introduction – 1 days