Great topic! (And sensible when taking on any project, be it for yourself or for a client.)
Back when I was doing agency work we'd always refer back to the budget. The budget is based on available resources (i.e. time invested), so if you change the scope you're changing the time required, which means the budget will change.
So then the conversation shifts to keeping the budget on track, because the client doesn't want to spend more money.
This opens up a few different opportunities:
One, you can put new deliverables on the backburner as additional work for a future phase. This gets everyone thinking long term (when something will be done versus if something will be done). Generally a good thing.
Two, you can re-prioritize project deliverables. If the client wants to do something new, they'll need to remove something that was previously agreed on. Less good, but helps keep things under control.
Three, increase the budget, meaning more time and more money. The project deliverables are re-defined, inclusive of the new scope, and the launch date is pushed back. The least good of all three options, since it can impact other projects, but at least you're being compensated for the work you're doing.
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