Milestones enable you to breakdown the project workload and payments into a series of sub-projects (i.e. milestones). Similar to on-completion projects, you still have the ability to require a deposit prior to any work starting. Also similar to on-completion projects, you'll need to set an estimated start date of the project. Once these two items have been set, you'll need to add milestones to your bid. A few things to keep in mind:
- Milestones can't overlap - It's assumed that milestones are completed back-to-back and do not overlap. With that said, you need to make sure that you allocate an adequate amount of time to each milestone to make sure you have the time to complete one milestone before you move on to another.
- You're paid after each milestone - Similar to on-completion projects, you'll need to submit your work for the customer's review. Once the customer has reviewed your work OR 14 days after you've submitted the work (whichever comes first), your funds will be released. The customer also has the ability to request additional work prior to releasing funds.
- Make sure the deliverables are clear - It needs to be easy to determine if a milestone is completed, so make sure to consider this when putting together your milestones.
- Milestones can be adjusted - You have the ability to edit and submit adjusted milestones, but the customer will need to review and approve the adjustments before they are applied to the project. You want to try to avoid making adjustments to milestones, but it is possible to change milestones after the project has started.
- When all milestones are completed, the project is completed - Once all milestones have been reviewed and approved by the customer, the project is flagged as completed.