The Time portion of a project plays a crucial role in understanding the hours dedicated to estimating and pricing a project. It not only tracks the total time spent on these activities but also distinctly highlights the time invested after the project's status changes to 'Submitted' and beyond.
Understanding the time invested in estimating helps in planning future tenders, especially for similar clients or projects of comparable size. This ensures that estimations are realistic and account for all necessary factors.
Tracking and understanding the time spent on estimating and pricing a project is essential for refining the estimation process. It aids in creating more accurate and efficient proposals for future projects, ultimately enhancing client satisfaction and project success.