The Art of Estimating Fees: Unlocking Profitable Projects for Your Architecture Firm
- Sponsor: BQE Software
- Credits: 1 AIA LU
Course Description
Ready to master the art of estimating fees and gain profound insights into their impact on your bottom line? Join Douglas Teiger, FAIA, on a journey that begins at the very inception of a project—when that initial request for a proposal lands on your desk or in your inbox.
In this comprehensive course, you will not only learn to define project scope, but also develop a Rough Order of Magnitude (ROM) for construction costs and estimate project hours. We’ll culminate by dissecting how fees are structured and introduce a simplified system to enhance your overall project profitability.
Join Douglas for this illuminating session that will empower you to unlock profitable projects and gain mastery in fee estimation. By the end of this session, you’ll possess the knowledge and tools to make informed financial decisions, ensuring the prosperity of your architecture firm.
Note: Certificates of Completion will be emailed in a PDF format for your records right away. Please allow for up to 3 to 4 weeks to receive AIA credit for the course.
Learning Objectives
- Identify the correlation between project scope, estimated project cost, and fee.
- Develop a Rough Order of Magnitude (ROM) for construction costs in a simple way.
- Create a top-down approach to fee estimation based on percentage of costs as a guideline.
- Estimate fees, whether they are for hourly or fixed-fee projects.
- Define the allocation of hours for each project phase and develop strategies to effectively manage them.