Hi all,

As we navigate our projects within the realm of a small management consultancy, the importance of closely monitoring billable hours and fees remaining in fixed-price projects cannot be understated. I believe many of you in professional services firms share this concern.

The challenge lies in our current project budgeting structure, which seems disconnected from the needs of professional services projects. The guidance indicates its incompatibility with tracking billable hours, a critical aspect of our operations.

I'm reaching out to gather insights and strategies from our collective experiences. How have you effectively managed this discrepancy? What tools, methodologies, or approaches have proven successful in tracking billable hours and fees in a fixed-price project environment?

Your input and expertise in this matter would be immensely valuable as we strive for more accurate and comprehensive project monitoring.

Thank you for your time and contributions.