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.
- 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.