Time to Blow Up the Billable Hour Formula

It’s time we face a fundamental problem that’s existed for the past 35 years after we moved away from fixed prices, retainers and other approaches that had previously been used and instead went to fees based solely on hours. Hours are performing two diametrically opposed functions. First, they are being used as a unit of production where we can budget how many hours are needed for tasks and then see if there aren’t ways to improve efficiency. But that means—as we do in manufacturing and everywhere else—looking at ways to reduce the number of hours for a task and ways…

Read this article:
Time to Blow Up the Billable Hour Formula