How to Calculate Fees | REGULAR

Calculating fees is challenging and can be stressful, especially for younger architects trying to make a living, pay staff, and grow their practice. But calculating fees is primarily about estimating practice costs and adding room for profit and growth. 

How to Calculate Fees

Topics: Practice / Finances / Project Management 

Length: 1 hour | What's Included: Video, Quiz, and Certificate of Completion 

This webinar is available to stream! 

This webinar will explore two methods for fee calculation: percentage based and “bottom-up” based. We will walk through the process of estimating design project costs based on the “bottom-up” cost estimating method. “Bottom-up” means using the project’s Work Breakdown Structure to define the deliverables, sub-deliverables and tasks, estimating the resources needed to execute each task, and applying the practice’s blended rate to determine an estimate of your costs. 

We will also use the RAIC’s 2019 publication A Guide to Determining Appropriate Fees for the Services of an Architect to calculate a percentage-based fee. We will compare the percentage-based and the bottom-up-based fee calculations to establish what we believe will be a competitive fee acceptable in the market place. Each registrant will receive a complimentary copy of A Guide to Determining Appropriate Fees for the Services of an Architect. 

Learning Outcomes: 

At the completion of this webinar, participants will be able to: 

• Create a Work Breakdown Structure (WBS);
• Apply the WBS to estimate the resources needed to execute design project tasks;
• Estimate the cost of project resources;
• Apply the percentage fee tables and adjustment factors of the RAIC’s A Guide to Determining Appropriate Fees for the Services of an Architect to determine a percentage based fee.

Subject Matter Expert: 

Don Ardiel B.Arch., MDE, OAA, MRAIC, PMP

This is a recording of a live event. 
This webinar is part of a series! See more like this here.