Ready to master the art of estimating fees and gain profound insights into their impact on your firm''s bottom line? Join Douglas Teiger, FAIA, on a journey that begins the moment you receive that initial RFP. You'll learn how to define project scope, develop a rough order of magnitude (ROM) for construction costs, and estimate project hours. Plus, explore how fees are structured along with a simplified system to enhance overall project profitability. You'll leave this illuminating session with the knowledge and tools to make informed financial decisions that promote the prosperity of your firm.
Learning Objectives
- Examine the correlation between project scope, estimated project cost, and fee.
- Discover how to develop a ROM for construction costs in a simple way.
- See how to create a top-down approach to fee estimation based on percentage of costs as a guideline.
- Learn how to estimate fees for both hourly and fixed-fee projects.