In one of my previous questions an expert mentioned the fairest way to bill a client is exactly for the hours worked. That's what I do, but when you do that both the client and contractor lose out. See below...
*A client calls and you quote the project will be complete in 20hrs, which is the lowest bid. (I.e., everyone else says it will be complete in 40hrs, so the client knows you aren't making a quote that is too high.)
You have 2 options:
1) Work super hard, stress your body/brain, finish the project in 10 hours and bill the client for 15 hours. The client wins because he got results for cheaper and faster than the quote. The contractor wins because he got to charge for 5 free bonus hours.
2) Work at a steady pace and finish the project in a little less than the quoted time. (I.e., 19 hours)
In option 2 there is no incentive to work faster, but in option 1 both parties benefit.
Assume the quality is the same for both scenarios.
My question is which way to bill is fairer and why?