Professional Documents
Culture Documents
Profprac Finals Reviewer
Profprac Finals Reviewer
STRATEGIES
FINANCIAL MANAGEMENT
THE BUSINESS OF ARCHITECTURE - It provides a framework for pursuing synergy
- Represents real world aspects of a business between the studio architectural responsibilities
along with how they interact and financial resources of the firm.
PROFITS
ARCHITECTURAL FIRM - Are simple revenue minus expenses.
- Sole proprietorship, a partnership or Factors:
corporation. ● Ability
● Productivity
MARKETING ● Behavior
- Concerned with customers and selling products ● Professional growth
and services.
- Practice of individuals or organizations FINANCIAL SYSTEMS
(commercial business, governments and - Managing the finances of a firm and monitoring
institutions) financial performance regularly is essential for a
2 POINTS OF VIEW successful practice.
● THE ARCHITECT’S PERSPECTIVE 8 REPORTS AND RESOURCES PROVIDING BASIC
● THE CLIENT’S PERSPECTIVE INFORMATION
MARKETING STRATEGIES 1. CHART OF ACCOUNTS
● Use social media 2. ANNUAL BUDGET
● Define your position 3. PROFIT PLAN
● Use lead generation services 4. DAILY TIMESHEETS
● Invest on your website portfolio 5. PROJECT CONTRACTS
● Start speaking in public 6. FINANCIAL MANAGEMENT REPORTS
● Work on your elevator pitch 7. 11 KEY FINANCIAL PERFORMANCE
● Get yourself published INDICATORS (KFPI’s) / METRICS
● Circulate your newsletter 8. PROJECT REPORTS
MARKETING PLAN
● Define your target market FINANCIAL PLANNING
● Determine your unique selling proposition - It should be part of the strategic plan of every
● Set marketing goals architectural practice
● Develop your marketing message - Activities.resources, equipment, and materials
● Identify marketing tactics to achieve these objectives.
● Set a budget
● Create a marketing calendar BUSINESS PLANNING (big-picture to business plan)
● Measure and adjust - Enables the principals in an architecture firm to
chart its course instead of reacting to situations
PUBLIC RELATIONS and opportunities as they arise.
- Concerned with building relations, spread
information, and generating goodwill for the 4 Components of Annual Financial Plan
organization. ● Revenue projection
- Art of communicating an architect’s vision, ● Staffing plan
project, and achievements to the world. ● Overhead expense budget
Activities: ● Profit plan
● Community involvement
● Good media relations MAJOR FINANCIAL PLANNING FACTORS
PUBLIC RELATIONS STRATEGIES ● PROFITABILITY
● Establish a strong brand presence ● LIQUIDITY
● Invest in a great photographer ● SOLVENCY
● Networking is a key ● WORKING CAPITAL
● Media mindset ● RECEIVABLES
● Analyze the usage of social media
PUBLIC SOURCING GUIDE TO FINANCIAL MANAGEMENT IN
- Combination of project and outsourcing ARCHITECTURAL FIRM
Ex. ● CREATE BUSINESS PLAN
● Instrumentation ● THE ORDER OF FINANCIAL MANAGEMENT
● Analysis equipment ● REVENUE PROJECTION
● Electrical ● TALENT PLAN: BRIDGE THE GAPS
● Construction ● OVERHEAD EXPENSE BUDGET
● Commissioning ● PROFIT PLANNING
GROUP 4 : FINANCIAL MANAGEMENT GENERAL PRACTICE OF ARCHITECTURE
- Act of planning and architectural designing,
FINANCIAL MANAGEMENT structural conceptualization, specifying,
- Means planning, organizing, directing and supervising….
controlling the financial activities.
- Guide businesses or individuals on financial Medium of unbiased preliminary studies of:
decisions. ● Plans
FINANCIAL HEALTH ● Consultations
- State of one’s financial situation. ● Specifications
ACQUIRING CAPITAL ● Conferences
- Capital acquisition is how you acquire new ● Evaluations
assets for your business. ● Investigations
SERVICE AND COMPENSATION ● Contract documents
- Describes the cash rewards paid to employees ● Oral advice and directions
in exchange for the services they provide.
(salary, wages, incentives and/or commission) Scope of the practice of architecture
Fees - consulting architect’s compensation - Ecompasses the provision of professional
Lump sum/ fixed fee - predetermined scope of services services in connection with the site…
will be furnished for a fixed fee.
Cost-plus - based on his/her costs for the services.
Hourly rates for individual services - miscellaneous GROUP 6 : APEC (ARCHITECTS’ OPERATIONS
personal services MANUAL)
Retainer - assured of always having available the services
of an individual architect APEC - ASIA PACIFIC ECONOMIC COOPERATION
- It is an international forum composed of
TWENTY-ONE (21) member economies with in
GROUP 5 : THE POLITICAL REALITY OF asia-pacific region
GLOBALIZATION AND THE OPEN PRACTICE OF
ARCHITECTURE IN THE PHILIPPINES 54 Filipino Architects registered as an APEC Architect.
● Australia ● Malaysia
● Brunei ● Mexico
Darussalam ● New Zealand
● Canada ● Philippines
● China ● Singapore
● Hong Kong ● Chinese Taipei
● Indonesia ● Thailand
● Japan ● United States
● korea of America
● Vietnam
ASEAN Architect
- One who is able to demonstrate to the
Monitoring Committee that he is compliant with
all the set requirements in the Assessment
Statement.