A company modifies production automobiles to create custom hybrid vehicles for the high-end auto enthusiast market. They develop and build these custom designs as a single unit or at times in multiples of as many as 20 for larger orders. The orders are generated by the marketing department with help from the owners who participate in the management of the company. Each new order is assigned to a project team, which starts by making an estimate to the customer before a contract is signed. The project teams have a great deal of experience in these projects.
As would be expected, the owners are hands-on and have opinions on the estimates. The marketing folks also provide suggestions on what the customer is willing to pay.
What are some processes and techniques that you would suggest to make the budgeting process work well? Start with general but also provide some specifics as relate to creating detailed project budgets. Be sure to justify why you think your recommendations will work