Architects Compensation Question

Building Section Vignette and Multiple Choice

Architects Compensation Question

Postby ochavez8 » Thu Mar 15, 2018 9:18 am

Good morning to all,

I have a questions regarding the architects compensation throughout the course of the design (B101). I know the architect can be compensated based on a percentage(%) for the Cost of the Work, Lump Sum or at an hourly rate. My question is if the architect sets his fee as a percentage for the Cost of the Work, how will he be payed throughout the design phases if the actual Cost of the Work will be identified and set under the Bidding Phase?

Thank you,

Oscar
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Re: Architects Compensation Question

Postby Coach » Thu Mar 15, 2018 12:08 pm

The cost is estimated.
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Re: Architects Compensation Question

Postby ochavez8 » Thu Mar 15, 2018 12:34 pm

Coach!

Just to understand the concept, if Architect is charging as a percentage based, and for example, knows that the owners initial budget of the Cost of the Work is $1,000,000 and Architect charges 6% of the total Cost of the Work, he will eventually be receiving a total of $60,000. Though the actual Cost of the Work will eventually be given until selecting the lowest bidder. Therefore, if working through the SD phase which is a 15%-20% of the Architect Basic Service, he will charge the initial budget of the owner which is $1,000,000 and has 15% completed thus far he will then receive $9,000 ($1,000,000 x 6% x 15%) and so forth as design reaches the Post Bid Phase, correct?

The architect will then get compensated for the remaining amount and subtracting what he has been given.

Thank you,

Oscar
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Re: Architects Compensation Question

Postby Coach » Thu Mar 15, 2018 1:52 pm

That is essentially correct.

You might find this helpful: http://bdlfirm.com/architects-compensat ... documents/

As you read that, keep in mind that the exam is not currently based on the 2017 documents.
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Re: Architects Compensation Question

Postby ochavez8 » Thu Mar 15, 2018 2:24 pm

Thank you very much Coach!

Appreciate the time and assistance with this question. It all makes sense.

Oscar
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Re: Architects Compensation Question

Postby Coach » Thu Mar 15, 2018 2:40 pm

ochavez8 wrote:Thank you very much Coach!

Appreciate the time and assistance with this question. It all makes sense.

Oscar

Thank you for noodling it through. Too many can't be bothered -- just want to be spoon fed, and then argue because they didn't take the time to stop, read, think, analyze and distill.
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