In order to get your estimate approved, you will need to make sure it falls within a certain range. This is called pricing by the project. This means that you price each component of the project, commonly referred to as the "Big Four" or "Top Line". These components are labor hours, material, equipment, and profit. You don't want to send an estimate that is too high, which could lead to the customer not wanting to work with you. You also don't want to send an estimate that is too low, which could lead to the customer thinking you're unskilled or trying to rip them off. Once you've worked out how to send the estimates, you will want to know how to build a relationship with the customer. Also, if any discrepancies are found in the estimates, you can take the necessary steps to rectify them, which will save you from overspending. It helps in managing the budget of the business when compared to the actual cost of a project.