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This webinar is not available as a recording.
preparation of design budgets and the monitoring of costs are major activities
for design firm project managers. Although they are often performed separately,
both are basic to a firm's profitability and success in providing effective
professional services. The project budgeting process has two interdependent
aspects: estimating compensation
and determining the actual detailed project budget by phase or activity. Once a
budget and scope of services has been
established, the project manager must monitor the work and segregate any labor
and expenses for activities outside of the contractual scope. Scope creep is a
major source of lost profits for engineers and requires establishing controls
before any contract is signed. This
webinar discusses what considerations need to be assessed before signing a
design services contract. It also discusses the design fee budget and why
projects run over their design budgets.
- Course will award 1.5 hours of continuing education