Originally Posted by
livpie I work for a video production company and am trying to streamline our bidding process. I have had the employees filling out categorized time sheets for over a year now and believe I have enough data to create a formula. The formula would only involve post-production.
Here is my end goal:
The part of the formula that we would fill in would consist of the four following categories:
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1. (M)Minutes of Final Project (1-whatever)
2. (Q) Quality of Project (1-5) - How high is the client's expectation of quality
3. (I) Post-Production Intensiveness (1-10) - 1 would be if we shot video and did a basic assembly of the video, 10 would be if we pretty much created the entire project digitally
4. (C) Layers of clients above us - (1-5) Is there an agency above us, and another above them, etc. Could also be a factor that dealt with how many decision makers are there approving the project.
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I have data of each project we have completed from the past that includes the time each employee worked on the project in post-production. Our rates are tiered based on the difficulty of the post-production work, hence factor #3 in my formula.
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Here is how I was thinking of tackling the task:
1. I would go back and input all the time that I currently have for each project into our current rate structure to give me an actual overall post-production cost.
2. I would then have 2 real numbers: (T)time spent on project, (P)total price
3. I would then rate the project in hindsight and fill in the numbers in Categories 1-4.
4. I would then solve for X to find the cost of the project.
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So here is where I am stuck....
Based on the following factors that I now know, I want to solve for X:
M = Minutes of Final Project
Q = Quality of Project (1-5)
I = Post-Production Intensiveness (1-10)
C = Layers of clients above us - (1-5)
T = Time spent on project
P = Total Price
I am not sure how I would add, multiply, the factors to create the equation...I think if I was solving for actual price it would be something like this....
M*((Q*I*C)/3)*X = P
I am curious if anyone can give me insight as I get ready to go back and analyze the numbers if I should be going in a different direction or if I am on track.
Thanks for any help!