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ARE 5.0 Practice Management Exam Prep

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SCENARIO 7: Developing a Fee Proposal at ADG

7m 42s

In this newly updated ARE 5.0 Practice Management course, you will learn about topics such as insurance, firm financial documents and metrics, the B101, and firm legal structures. Our focused approach covers practice management topics comprehensively and succinctly, ensuring that you're prepared for each of the NCARB objectives covered on the PcM exam. Instructor Joy Meek lends an architect’s insight on topics like the standard of care, client relations, obtaining new projects, and firm management. The lesson format includes engaging motion graphics and visual learning aids to enhance your studying. When you're done with this course, you will have a thorough understanding of ARE 5.0 Practice Management content.

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Okay, so when we usually do an hourly project it's because the client doesn't really know how much time we're gonna be spending on it and we really like to use those, because that also gives us some comfort that if the client decides to change their mind seven times we're gonna get paid for that and then they're also gonna get what they want at the end of the day. When we're preparing, let's say a normal fee proposal for any type of client, I've had a lot of success working with developers and those can get a little tricky, as they're developers and they obviously want to get as low a fee as possible, but the normal that we go out there with is usually somewhere between 3 and 4%, when we start to talk about what we would be getting for that type of project. A lot of the projects that we're doing are somewhere around 300 apartment units, and it may be around 400,000 square feet.

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From the course:
ARE 5.0 Practice Management Exam Prep

Duration: 8h 25m

Author: Joy Meek