It's easy to add a project to Price&Cost and start a new estimateChoose project name, if it's billable or not, client name, start date and other settingsDefine Activities and deliverablesAdd the People / Materials / Other Costs that are applied to your projectEnter planned time / quantities of your resources to be used on the project1. Creating a projectProject name. This will help you easily identify the project in the list.Duration. Just choose when your project is about to start or when it has started (if you are adding a project that's already running) and the forecasted finish date.Client name. Defining a client will allow you to group and sort project in the list by client name. In addition, you will be able to define client-specific rates in the Resource section.Tags. Define tags to later filter projects by in your dashboard and reports.Project type. Set your agreed contract type for the project.Profitability goal. Set you desired Profitability goalOnce you've finished with defining the properties click "Add project".Learn more about all Project Settings.Learn more about defining Profitability thresholds for your projects.2. Adding activities to your projectsActivities on projects can represent phases of your projects or deliverables.2.1. Adding Activities to the projectTo add Activities to your project you will need to:Add Activity nameSelect Activity colorSelect if Activity is billable or non-billable Default activity will be added to every new project automatically and cannot be deleted. Creating additional activities is optional.Learn more about adding Activities to projects3. Adding resources to your projectYou can add 3 types of resources to your project:People - work that’s done by people and quantified in either man-days or hours.Materials - all the materials you are planning to use on the project. These will be quantified in number of units.Other Costs- all other costs you anticipate on the project. These will be items that are hard to quantify, e.g “Travel expenses”.3.1. Adding People and their planned timeTo add People to your project you will need to:Add Resource names / roles and their internal cost / client rateSelect the Activity for the ResourceThe time you plan to use them for on your projectLearn more about adding People to you projects.3.2. Adding Materials and their planned quantityAdding Materials to your project is similar to adding People. However, Materials are priced per item and you will be entering the total quantity, rather than effort.Learn more about adding Materials to you projects.3.3. Adding Other Costs and setting if they are billableAdding Other Costs allows you to add Total internal Cost for line items and set if they are Billable to the client.Learn more about adding Other Costs to you projects.4. Getting a full estimateOnce all your People, Materials and Other Costs are added to the project, you will get the full overview of your planned project Budget, Internal Cost and Profit that's always visible in the header.If you navigate to the All Activities in the Project Summary section, you'll be able to see the breakdown per Resource of your estimate across People, Materials, and Other Costs:4.1 Getting per Activity breakdown of your estimateFurthermore, you'll be able to see each of your project's metrics broken down by Activity by hovering over the project header:or by navigating to the project summary:Clicking on an individual activity in the activity list or from the sidebar, you can see the breakdown per resource type for the selected activity:Note: The metrics look a bit different when you are estimating a Capped Time&Materials project or a Fixed Monthly Retainer project.5. Using metrics chartAnother convenient way to check your estimate is to use the chart of the Summary tab - it allows you to not only the overall metric (Budget, Internal Cost, or Profitability) but also how it changes over the planned course of the project.You can change the metric you are viewing between:BudgetInternal CostProfit / ProfitabilityLet's take the following example:The project has a budget goal of $45,000 set and we can see that we are safely under budget by the end of the project However, we are not getting the necessary profit margin. What's more, it's after week 6 of the project that we are going to below the set profitability goalNow, that you have a first estimate out of the way, it's time to experiment with different versions to arrive at the final estimate or mark the project as "Started" if you are happy with your first estimate.