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When you are managing a fixed fee project, you want to monitor hours and deliverables so you stay profitable without exceeding budgeted effort. The Fixed fee project template in Teamwork helps owners, ops managers, and project managers line up scope, timeline, and effort in one place.
You translate the agreed scope into task lists and milestones, estimate hours for key phases, and track actual time as work progresses. The template works as a fixed fee project tracker so you can see whether you are still inside the budget or starting to drift.
Use it as your standard fixed price contract tracking template so you protect margins, keep scope under control, and set clear expectations with clients.
What is the Fixed fee project template and why is it useful?
The Fixed fee project template is a structured way to deliver projects where the price is agreed up front. It gives you a framework for breaking scope into tasks, estimating effort, assigning owners, and tracking actual time so you can see whether the work still fits inside the budget.
This is useful because small underestimates or extra requests can quietly erode profit on fixed fee work. The template makes that risk visible so you can manage it, not just discover the problem after the project ends.
How do I use this template in Teamwork to keep fixed fee projects profitable?
You start by creating a project from the template and capturing the agreed scope as task lists and milestones. Next, you add effort estimates for key phases, assign work to your team, and have them log time against those tasks as they go.
Teamwork reports then compare estimated versus actual time so you can spot overruns early. If you see time usage rising faster than planned, you can adjust priorities, change how work is delivered, or have a scope conversation with the client.
How does the template help manage scope creep on fixed fee work?
The template helps manage scope creep by turning every new request into visible work rather than letting it live in email or chat. When a client asks for something new, you add it as a task, tag it as in scope or out of scope, and link it to the right phase.
Over time, you build a record of changes that supports renegotiation. You can propose trade offs, create a follow on phase, or agree a change order instead of quietly absorbing extra work that damages margins.
Can I adapt this template for different types of fixed fee projects?
Yes. You can adapt the Fixed fee project template for design work, website builds, campaigns, or other fixed price engagements by adjusting task lists and milestones. The core structure stays the same: defined scope, effort estimates, and time tracking.
Because you use a consistent template, it becomes easier to compare performance across clients and services. You can see which types of fixed fee projects tend to overrun and refine your estimates, pricing, or process accordingly.
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