Work estimates and PI insurance

[zerosum]

Company's been dormant for a little while, and I didn't renew my PI insurance last month.

Currently in discussions about a contract. Nothing signed yet.

Due to have a chat with the client tomorrow. They have a list of outstanding tasks and an estimate of the number of days required. They need to firm this up and present it to the end-client. They'd like to get my input. They even wondered if I might be able to suggest a fixed price.

Are there any possible problems here given the lapsed PI? I've told them that any remarks I make tomorrow about time estimates will be totally non-binding; quite apart from anything else I've yet to set eyes on the code.

[northernladuk]

Was it dormant or just not trading?

Why would lapsed PI have a bearing on anything? It was there to cover the work you did and after you left (for a reasonable time). It has no bearing on anything you haven't done yet. You'd need a new policy to cover that.

[zerosum]

Was it dormant or just not trading?

Both. Not trading, and charged at dormancy rates by the accountant.

Why would lapsed PI have a bearing on anything? It was there to cover the work you did and after you left (for a reasonable time). It has no bearing on anything you haven't done yet. You'd need a new policy to cover that.

Specifically thinking of time estimation here. Let's say I quote x days, and the work ends up needing x+10, which causes a budget overrun.

But I reckon it's probably enough just to say that any time estimates are rough and non-binding and subject to thorough revision once I see the code and so on.

[northernladuk]

Specifically thinking of time estimation here. Let's say I quote x days, and the work ends up needing x+10, which causes a budget overrun.

But I reckon it's probably enough just to say that any time estimates are rough and non-binding and subject to thorough revision once I see the code and so on.

OK. I thought PI covered you for a fixed amount for the period you have the cover. Not sure what the number of days you quote has to do with it?

Will the client not be insisting you have x amount in place before you do the work?

[zerosum]

OK. I thought PI covered you for a fixed amount for the period you have the cover. Not sure what the number of days you quote has to do with it?

Will the client not be insisting you have x amount in place before you do the work?

Completely agree PI is mandatory for doing the work.

This was about whether the PI would be useful ass-covering if I mess up on the time estimate. But I'll just underline that it's an approximation.

[Lance]

Both. Not trading, and charged at dormancy rates by the accountant.



Specifically thinking of time estimation here. Let's say I quote x days, and the work ends up needing x+10, which causes a budget overrun.

But I reckon it's probably enough just to say that any time estimates are rough and non-binding and subject to thorough revision once I see the code and so on.

What about the fixed price?
If you need more information before providing a fixed price then say so. They want you to put your cock on a block so make sure you have all the information.
Do the discovery, write a detailed Statement of Work, with a clear scope, and a price.
As for PI insurance..... BUY IT NOW. It takes seconds and a credit card.

[Lance]

Completely agree PI is mandatory for doing the work.

This was about whether the PI would be useful ass-covering if I mess up on the time estimate. But I'll just underline that it's an approximation.

PI insurance is nothing to do with you screwing up the fixed price. It's about you screwing up your clients' business by incompetence.

Read the policy...


EDIT: As for approximation..... that's not what a client wants if they ask for fixed price. They want.... you know.... a price..... that's fixed...... that means it won't change unless they change the scope or requirements....