Explore project sales capabilities

Completed

In the initial sales phase of a project, a project quotation lets you provide a customer with a non-binding offer. You enter the services, basic contact information, special trade agreements and discounts, and estimated taxes and surcharges for a project. You can also select the activities or tasks for a project and create a hierarchy of tasks and subtasks. For each activity, you can enter details about the timing and duration of the activity and about the skills and experience required for workers who perform the activity.

The project quotation is a non-binding estimate of the work that must be performed. However, when the information in the quotation is copied to a project associated with a project contract, that information becomes part of a binding agreement between two parties.

If the customer approves the project quotation, you can copy the information in the project quotation to a project. You can copy the project quotation information to a project forecast at the same time. You can also issue a letter of guarantee for a project quotation transaction between your organization and the customer. After the project quotation is created, you can create the letter of guarantee request for the customer and submit it to the bank. After the bank has approved the request, the letter of guarantee is issued to the customer.

Explore project quotation capabilities

Confirm, update, and send a project quotation

You can send an existing project quotation for confirmation through email or as a printed copy. After you create and send a project quotation to a customer, you must get confirmation from the customer before you update the quotation status to Sent. Any modifications requested by the customer can be updated in the quotation. After you update the quotation status to Sent, you can’t modify it.

For example, you sent a quotation to a customer for an estimated cost of your company's services. The customer made a few requests to modify the quotation, so you made updates based on their feedback. Now you're going to send the quotation back to the customer for confirmation.

Note

You can’t modify a project quotation after the status is changed to Sent.

Transfer a quotation to a project

When a project quotation has a status of Confirmed, you can transfer some or all the quotation lines to a new or existing project by using the Transfer to project wizard.