How to Pick Among Ways to Estimate an Architectural Project

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This video walks the viewer through the 'Big Picture' overview of How to Pick Among Ways to Estimate an Architectural Project -namely, what are the key aspects that an Architect would need to keep in mind in order to pick among ways to estimate an Architectural Project? This video is an overview video where the author discusses the steps involved. He will be adding more to the video at a later time.

It covers topics like:

"How to Pick Among Ways to Estimate an Architectural Project"

Big Picture Overview
Purpose of this video is to show how an Architect may prepare to estimate his costs for completing the phases of design through Construction drawings

What is an Estimate?
"roughly calculate or judge the value, number, quantity, or extent of. "
Estimates are not intended to provide a solid and concrete number.
They are intended to provide a 'best guess' for purposes of making a decision to proceed with a certain job or not.
It is possible to be precise with estimates, but it is impossible to be 100% accurate due to the fact that the estimate is based on a projection of circumstances and events that may or may not be true when the actual performance of the job needs to occur.
In order to Decide Which Method
Ask the client which method he or she will prefer

Use weighted categories of priorities in order to align toward a specific model:
Your time
Availability of workers
Current workload
Know Your Context
Geographic
Governmental
Complexity of Problem
Potential for additional / future jobs

Try to understand the client's intent and constraints.
Time
Money
Design

What are Ways that an Architectural Project Can be Estimated?
Construction Percentage
Cost per square foot
Per Hour

Construction Cost Percentage
Military -- typical limit is 6% of construction
Residential -- 8 to 15% of construction
Commercial

Example of Residential
Construction Cost Breakdown
8% - includes Basic Plans, Sections and Exterior Elevations, Door and Window Schedules
Add 1.5% for millwork details and interior elevations
Add 2% interior finishes coordination
Additional Services including but not limited to construction observation

Commercial Cost of Construction
May Range anywhere from 4.7% for projects having a range in the above $50 million mark, all the way to 15 % for projects $50 thousand and below.

Cost per Square Foot
$2 to $5 per Square foot

Varies based on:
Region of the country
Availability of workers
Type of construction

Cost per Hour
Based on rate of professionals and other disciplines involved in performing the work.

Architects charging anywhere from $80 to $300 an hour
Draftsmen charges - $50 to $75 an hour
Clerical - $20 to $30 an hour

Hybrid Approaches
Combine aspects of each
Value to Client Approach

Innovative Approach
Requires educating the client
Requires demonstration of value
Requires tracking time
Example: Require a certain amount to begin the work.
From there, the client pays you what he thinks your work is worth... according to the value that you have provided to him.