Each Design Project is set in a different context. In each of the case, Clients, Location, Conditions of work, Design professionals’ Needs and Compulsions are different. A new project by seasoned professional will be handled with wider experience and maturity then the past one, so charged with slightly a higher fee. Whereas a young professional, on the other hand brings in freshness of new and modern ideas, and for that reason may demand a higher price.
Yet a professional seeks following answers while determining a Right Fee:
Is one aiming at a reasonable profit?
Is one striving for a high return to manage a high risk situation?
Is one striving for a high return for the rare contribution?
Is one trying to break-even -no loss no profit situation?
Is one seeking to avoid or provide for residual liabilities?
Is one looking for hypothetical – future benefit?
Is one bartering an advantage?
TO TAKE OR NOT TO TAKE A PROJECT
Professional always face such dilemmas. The reasons could be many: Unknown project, too familiar (repeat) a project, too busy, unsuitable location, lack of resources (staff, equipment, finance), too small or too large a project, non profitable, a doubtful client, etc.
A professional first raises following questions:
a. If the project is taken, then. What would be the gains / loses?
b. If the project is not taken,then. What would be the gains / loses?
The second question may seem absurd, how can one make a profit or loss, by not doing a job?
For a busy professional an odd project will require reorientation of the firm’s working, additional investments in plant, equipment, retraining or hiring of extra employees, slowing down some current assignments, etc. In such a situation, not taking on an additional project is advisable, unless gains are unusual in quality and quantity.
On the other hand a normal project with reasonable gain prospects can be carried through the firm, if it fits within the working style, specialization, employees’ capacity etc.