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ARE 5.0 Project Management Exam Prep

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Project Resources - Billable Hours


In this ARE 5.0 Project Management Exam Prep course you will learn about the topics covered in the ARE 5.0 PjM exam division. A complete and comprehensive curriculum, this course will touch on each of the NCARB objectives for the ARE 5.0 Project Management Exam.

Instructor Mike Newman will discuss issues related to office standards, development of project teams and overall project control of client, fee and risk management.

When you are done with this course, you will have a thorough understanding of the content covered in the ARE 5.0 Project Management Exam including quality control, project team configuration and project scheduling.

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It's a relatively large project that's a $100,000 fee and there's gonna be a certain number of hours of each of these people and we can start to figure out, "Well, how many hours does that give us?" So then, if we imagine that we have some of the Architects working on the project, let's say we're gonna get a hundred hours of time and so we've got a hundred times a hundred; that's gonna be $10,000 of time, right there, just in that one group, which would leave us $5,000 for some time with the Principal and with the Project Manager and with the Project Architect and maybe some other time with the intern. There might be some staff admin time putting packages of information together for the client, something like that, so we would just kind of figure out how many hours we thought we needed and divide it up in terms of, so it's not just time, but it's the time and money because each of these different people, their hour is a different cost. So, clearly, we don't want to have a project where we're spending a whole lot of hours of the Principal, unless that's really needed, because they're way more expensive than, say, the Designer or somebody like that.

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From the course:
ARE 5.0 Project Management Exam Prep

Duration: 15h 26m

Author: Mike Newman