9/8/2019 Business of Architecture

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lizah balili a few seconds ago 2 min read

Business of Architecture
BALILI, LIZAH MELISSE G.
BS ARCHITECTURE 4-3

I. INTRODUCTION

Architecture is a broad topic indeed because of the many things it can relate with. It just not
deals with the philosophies and concepts architects conceived and the hard work architects
have spent in learning the process of how to make a structure. Years are also spent in school
to learn and gain knowledge of how to operate cad and other software useful in the field of
architecture. Having a full grasp of architecture may be acquired in full practice. Another
instance is learning about the business of architecture.

II. DISCUSSION

Having adequate knowledge about the business of architecture is essential if you are in the
field because your success and profit highly depend on this. The business of architecture is
usually not elaborated in architecture schools. As a result, students eventually graduates not
having knowledge about it and they are usually placed in the field having no clue about it.
Without basic knowledge in the business of architecture, one cannot be an effective
architect. The better understanding of the design fee for a project can help you manage
your time efficiently. Also, it will increase the chance of your project to be successful and
profitable.

The most common fee structures between an Architect and Owner are a lump sum
agreement and an hourly agreement. A lump-sum agreement is also called a 'fixed fee'
agreement because the owner and architect have agreed to a set amount. The benefit of a
lump sum is that both the owner and architect know the total contract amount at the
beginning. In addition, there is a potential for higher profits if the team is efficient and the
project is done earlier.

A client's budget is also involved in the business of architecture. An architect must be

empathetic to this situation. When an owner invests in the construction of a building this is
likely the largest expenditure they will ever make.

III. CONCLUSION

A large or small architecture firm both need a plan for generating new business. The most
effective business development strategies for architects involve more time spent on

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9/8/2019 Business of Architecture

proactive relationship-building.

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