The Art of Estimating Fees: Creating a Simple Process for Success
Sponsored by BQE Software | Presented by Douglas Teiger, FAIA
Webinar On-Demand
Ready to start mastering fees and better understand what they mean for your bottom line? To do so, let’s start at the very beginning—when you receive a request for a proposal. In this course, you will learn how to define your project scope, develop a Rough Order of Magnitude of construction cost, and estimate your project hours. We’ll finish off with how fees are broken down and explore a simple system to improve your overall project profitability.
Photo courtesy of Mikhail Nilov
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Douglas Teiger, FAIA, graduated from Cornell University, in 1982 with a BARCH. He opened his own firm in 1989 and grew from a solo practitioner to become managing partner of his 32-person firm. In 2009, Douglas received a Master’s in Spiritual Psychology from USM, where he learned tools and skills he is sharing with his staff and clients. His ability to effectively streamline the operations allowed for more time to be spent on design and project research while creating a culture that fosters a holistic approach to a work life balance. In 2017, he served as president of the AIA Los Angeles Chapter and previously served on the AIA National Strategic Council. In 2019 Douglas transitioned out of his firm elevating three associates to partners, sold his shares and started his next venture, Teiger Consulting. Douglas’s mission is to “live an inspiring balanced life” whether it involves family, coaching, consulting, painting, or sports. |
BQE CORE is the award-winning firm management software, created by architects for architects, that project-based firms trust to run their operations for better project outcomes, and more profitable futures. Their fully integrated suite of intuitive tools with 24/7/365 support provides back-office automation to power front-office insights, making firm management more agile, informed, and data-driven. Learn more at www.bqe.com.
Originally published in ASSEMBLY
Originally published in January 2023
LEARNING OBJECTIVES
- Identify the correlation between project scope, estimated cost of project, and fee.
- Develop a Rough Order of Magnitude (ROM) of construction cost in a simple way.
- Create a top-down approach to fee estimation based on a percentage of costs as a guideline.
- Estimate fees whether hourly or fixed fee projects.
- Define how many hours you have in each phase and how to manage those hours.
