ID 34013 Lecture Notes - Lecture 7: Scope Creep, Stuart Pugh, Length Overall

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Design service fees fees=income for the company: charging a professional fee instead of selling merchandise, variety of fee methods, different methods are better at different times and under different circumstances. Overhead expenses: also called selling and administrative expenses, as those expenses incurred whether the firm produces any revenues or not, expenses necessary to keep the doors open , non-billable time rent , phone, copies, advertising, etc. Fringe benefit: an extra benefit supplementing an employee"s salary, for example, a company car, subsidized meals, health insurance, etc. Direct personal expenses (dpe: a number that includes salary+benefits, taxes and paid holidays, direct and overhead expenses, profit, most accurate way to determine multiplier. Billable rate based on dpe: direct personal expense and fee multiple, total annual salaries ,000, total fringe benefits $ Estimating design fees: understand the scope of services, calculate costs carefully (including expenses and profit) Indirect job costs: overhead, overtime, scope creep, unforseen consultants, unforeseen job site delivery costs.

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