Architectural Project Management

Architectural Practice Types

• The following are types of architectural practice mentioned in the text: commercial corporation, sole proprietorship, partnership, and professional company

Commercial Corporation Requirements

• A commercial corporation requires a minimum of two shareholders and a minimum of two directors

Sole Proprietorship Definition

• A sole proprietorship is a business owned and controlled by one individual

Launching an Architectural Practice

• The first key steps in launching an architectural practice include creating a business plan, developing a strategic plan, and establishing a business entity

Operational Systems

• A business plan describes the operational systems that a firm will put into place to deliver products and services

Difficult Aspects of Business Planning

• One of the most difficult aspects for an emerging proprietor when completing a business plan is forecasting finances

Strategic Planning

• The purpose of a strategic plan is to guide the direction of the firm
• Alternative to strategic planning is crisis management

Key Resources for Strategic Planning

• Key resources required for strategic planning include time, money, and information

Information Gathering and Analysis Tool

• A common information gathering and analysis tool used in strategic planning is SWOT analysis

Ownership of Architectural Practices

• The most common type of ownership for architectural practices in Canada is a sole proprietorship

Partnership Definition

• A partnership is an agreement between two or more people to jointly own and operate a business

Unique Profile Factors

• A key factor in creating a unique and recognizable profile for an architectural firm is its brand identity

Business Model Purpose

• The purpose of a business model in the context of an architectural firm is to describe how the firm will generate revenue

Building Information Modeling (BIM)

• The most significant value of building information modeling (BIM) for architectural firms is its ability to improve design, construction, and operation of buildings

Business Plan Purpose

• The purpose of a business plan in the context of an architectural firm is to guide the direction of the firm and secure financing

Business Entities

• A joint venture is a form of business entity that preserves the individual identity of two or more corporations
• A consortium is a form of business entity created by two or more firms for a single specific project
• A professional company is a type of business entity that includes architects and other professionals, usually engineers

Office Structure

• A studio-based structure is a type of office structure that subdivides the office into teams to deal with a project in its entirety

External Professional Services

• An architect should establish a relationship with a lawyer as an external professional service

Insurance Requirements

• Professional liability insurance is specifically mentioned as a requirement for an architectural practice

Accountant's Role

• The purpose of engaging an accountant in an architectural practice is to manage finances and ensure compliance with tax laws

Financial Investment Advice

• Architects should seek the advice of a financial investment professional to manage their personal finances and make informed investment decisions

Quality Management

• Quality management in architectural practice involves quality planning, quality control, and quality assurance
• The main objective of quality assurance in architectural practice is to ensure customer satisfaction
• Quality planning involves establishing quality objectives and defining how to achieve them
• Quality control involves monitoring and correcting quality issues during the design and construction process