Average Project Size (APS)
Professional Services
Projects
What is Average Project Size?
This metric shows the size an average project has within the firm at a given moment in time. It might be especially interesting in combination with the utilization, as this allows an analysis into how diversified the revenue sources are at a given moment in time.
Average Project Size Formula
Average project size = sum(Revenue from projects) / Count of projects
Average Project Size Unit
Annual Recurring Revenue is stated in the unit EUR (€).
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More about Average Project Size
Average Project Size (APS) is an essential metric for businesses, especially those in project-based industries such as construction, consulting, and IT services. This metric provides insights into the typical scale and scope of projects undertaken, aiding in strategic planning, resource allocation, and financial forecasting.
How to visualize Average Project Size?
Average Project Size can be visualized as a data card, showing the current value of the KPI. Or you can use bar charts to see trends and to compare your current value with previous time periods.
Average Project Size visualization examples
Average Project Size
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Recommendations to improve Average Project Size
- Target Larger Clients: Focus your marketing and sales efforts on attracting larger clients who have bigger budgets and more extensive project needs. Identify industries or sectors where larger projects are common and tailor your services and outreach strategies to appeal to these potential clients.
- Enhance Service Offerings: Expand and diversify your service offerings to provide more comprehensive solutions. Bundle related services into packages that deliver greater value, encouraging clients to engage in larger projects. By offering a wide range of services, you can meet more of your clients' needs, leading to bigger projects.
- Build Strong Client Relationships: Develop and maintain strong relationships with your existing clients. Understand their long-term goals and offer solutions that support their strategic objectives. Trust and a deep understanding of their needs can lead to repeat business and larger project engagements.
- Leverage Case Studies and Testimonials: Showcase your success with previous large projects through detailed case studies and client testimonials. Highlighting your capability to handle substantial projects effectively can attract new clients looking for reliable and experienced partners for their big projects.
- Implement a Value-Based Pricing Strategy Adopt a value-based pricing approach rather than hourly or fixed-rate pricing. By demonstrating the significant value and return on investment (ROI) your projects deliver, you can justify higher project costs. This approach not only increases the perceived value of your services but also encourages clients to commit to larger projects.
