Financial Modeling Scope of Work Template
Pitch your next financial modeling project with confidence with this fully customizable scope of work template that includes project phases, detailed services, and recommended pricing, so you can get to “yes” more quickly.
Financial Modeling Scope of Work
Financial modeling is a major part of financial analysis. Companies of all sizes depend on skilled financial experts to conduct financial modeling and help them understand their numbers so they can make better business decisions. If you have deep expertise in financial modeling and analysis, consider offering your services as a freelancer or independent consultant. Before you consult on your next financial analysis project, use our Financial Modeling Proposal template.
Our Financial Modeling Proposal template outlines three project phases with a full breakdown of services, from conducting stakeholder interviews to developing a model framework. The scope template also includes pricing recommendations powered by crowdsourced pricing data from over 50,000 other freelancers.
This template is fully customizable and editable – no locked files to download. Simply start editing and tailor your scope of work to align with your project requirements. Once customized, seamlessly share it with your client for approval and signature. It's that simple.
Included in this scope template:
✓ Recommended overall price for the project based on crowdsourced data from over 100,000 freelancers.
✓ Detailed breakdown of 3 phases and services to include in the project.
✓ Edit and customize as needed to fit your project and client needs.
✓ Turn a scope into a proposal for client sign off in just a few clicks.
Frequently Asked Questions
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Financial modeling is the process of combining historical and projected financial information to inform business decisions, according to the Corporate Finance Institute. Essentially, financial modeling requires taking a look at accounting, finance, and business metrics, and combining the data in a spreadsheet to forecast future performance.
Companies may need to perform financial modeling to determine the company’s value or make decisions around raising capital, entering new markets, or budgeting. If you’re an independent financial consultant, companies may hire you to perform financial modeling. When they do, you’ll need to pitch a comprehensive financial modeling proposal to secure the job.
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Rather than including a single deliverable (e.g., “perform financial modeling”), your financial modeling proposal should outline your process for this type of project. For example, you’ll likely kick off the project with an analysis of the current business practices. Then, you’ll begin building a model framework.
It’s also helpful to break down your proposal into phases with individual services and deliverables. To get an idea of the types of financial analysis services other freelancers offer, refer to our Financial Modeling Proposal template. The community-sourced template breaks down the scope into three key phases:
Requirements Gathering & Analysis
Model Design & Development
Training & Support
Each phase incorporates a variety of customizable services that contribute to the overall project. When you use this template, you can use this scope as is or adjust the services and prices to fit your project’s needs.
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How much you charge for financial modeling depends on the scope of the project, the client’s goals, and even the size and industry your client operates. For example, a startup is going to have much different needs and numbers than a Fortune 500 company. Consider every aspect of the project, as well as your financial modeling experience, to determine a price that communicates your value.
Knowing how to price your services is one of the most challenging aspects of freelancing. With our Financial Modeling Proposal template, you not only gain access to a detailed breakdown of services but also recommended prices for each. These pricing recommendations are derived from crowdsourced data from over 50,000 freelancers, ensuring accuracy and competitiveness.
Use the Financial Modeling Proposal template to access pricing recommendations and customize your next financial analysis project.
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Once you’ve checked out Wethos’ Financial Modeling Proposal template, edit the phases, services, and prices however your project requires. When all looks good, save that scope of work to your library by creating your Wethos account. After you’ve created a scope, you can go on and add contract terms, send proposals for client signature, create an invoice, and get paid! 🤑
