Setting fees: What to consider

Contributed by David B. Richards, FAIA, LEED AP, PMP. Excerpted and adapted from The Architect’s Handbook of Professional Practice, 15th edition.

Summary

Based on the scope of the service, an architect needs to understand the effort required, the associated risks, and the value of the services provided to set fees. In addition, begin with the end in mind and use contingencies to be able to adjust to project conditions and to ensure that the project makes an appropriate profit.