Module 1 Flashcards
What kind of plan will help you determine how the design work will be delivered, who will perform the work, and the projected profit of the project?
Staffing Plan
Name four qualities of an ideal staff member
- Excellent
communication skills - Ability to keep on
track and stay
focused - Talent for
overcoming design
challenges and
obstacles as they
arise
4.Experience in the
specific project type
if a Project Manager is paid $32 an hour, what will his/her yearly salary be, not including bonuses?
32 x 2080 = $66,650 a year
Who is responsible for assigning staff and assessing their skills and work that needs to be done on a particular project?
Project Manager
How many hours are in a full time year?
40 hrs x 52 weeks = 2080 hrs
What are three typical staff benefit?
1.Vacation Days
2. Sick Days
3. Health Insurance
What are four overhead expenses in a typical firm?
- Employee
Compensation - Office Rent
- Computers and
printers - Insurance
Each staff member is assigned a _________ to cover salaries, expenses, and create a profit.
Billable Rate
What is the purpose of a billable rate?
Each staff member is assigned a billable rate to cover salaries, expenses, and create a profit
In a small firm, the billable rate might utilize a multiplier of _______ while in a larger firm it could be ______ or higher.
3 & 5
What would the hourly salary for a Project Manager who is billed out at $95 an hour and works in a small firm with a multiplier of 3?
$95 / 3 = $32
What would be the billable rate of a Project Architect who earns $25 per hour in a large firm with a multiplier of 5?
$25 x 5 = $125 billable rate
Why would larger firms have a higher billable rate than smaller firms?
Larger firms typically incur more overhead (larger offices, more equipment, larger staff, and greater expenses)
The ratio of an employee’s billable hours to their total hours worked is called their ______?
Utilization Ratio
What is the utilization ration?
Ratio of an employee’s billable hours to their total hours worked
