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Great post Katrina. :O)
It also reminds me of a system that helps us achieve the same thing that I studied in MBA " PERT" Performance Evaluation Review Technique, I just hope I am writing it correctly.
But the basic theme was the same. Divide the work into different phases and then create an objective of each stage. Then Evaluate each stage based on the achievement of the project.
Anyways I think that should be enough from me for now
Marry
pricing could be done inlight of many factors
the closest rivel rate
market rates
client's precived benifits
your costs .. do charge the price of time .. as on hour rate as the answer suggests. These are just a starting point ..
Best of luck
I think your advice sounds strong and is something that can be followed without any risks.
Speculation is something that we have to avoid as much as we can and there can be no issues.
There are so many options, but the best option always looks elusive. I think your point of splitting them into phases might be a good way to look at it.