Ward to the Wise

    How to Assess a Process Industry PR Firm's Cost Proposal

    After you’ve performed due diligence, have researched PR firms and conducted in-person decision CTA-969084-edited.jpginterviews, the next step in selecting the right petrochem and refining public relations firm is to assess the cost estimate.

    Here are some tips on things to look for when reviewing a cost estimate:

    • The Job Description

    Does the job description accurately summarize the work to be performed?  Does it detail what services the PR firm will provide?  It is critical that the job description align with the desired work to be performed.

    • Scope of Work

    In addition to the general job description, the cost estimate should include details on exactly what will be done and by when by the agency to deliver the assignment. For example, if facility desires to build good will in the community, the PR firm should detail the specific process industry community relations services they intend to provide.    

    • The Budget

    The budget is based on the scope of work and ensures that you are always comparing apples-to-apples.

    • Letter of Agreement (contract)

    You should always have a contract (signed by both parties) in place that outlines the terms of Business people reviewing construction plans in front of building.jpegagreement between the two entities and cover details of the agreement (cost, time period, terms of payment, confidentiality, etc.).  TIP: Make sure that the contract does not have such strict confidentiality requirements in place that it hinders the PR firm from actually performing its work, which may require some disclosure.

     


    To learn more about selecting public relations/communications counsel, download Ward's free white paper "Getting it Right: Key Considerations for Selecting Public Relations Counsel"

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