Fee Calculation – Part Two
When it comes to making decisions on an appropriate project fee, time isn’t the only consideration. Paul Viney continues his fee discussion with Madeleine Swain from AR, exploring other important factors to consider, such as risk and the value of innovation.
Ask any architect what topics are top of mind, and invariably fee discounting will be up there. It’s an ever-present issue. Once a practice has worked out its break-even point (See Fee Calculation, part one), there are several other stages that need to be worked through. Once these are addressed, settling on an appropriate fee to charge clients should be much more considered and empirical.
The ACA Time Cost Calculator requires each practice to consider a range of variables to assist in finally determining a fee. It should be noted that these variables are unique to each practice and result in a different outcome for each practice and each project.
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This article was originally published in AR and has been republished with permission.