Business of Architecture: Finance and Risk Management for Architects

BAFRM-2016

Included in subscription

1.50 LU

4.44

Course expires on: 06/01/2025

$35

Architect$35

Member Price

$50

Non-member Price

Description

This course explores concepts related to the finances in running an architecture firm and risk management. Large firms, small firms as well as sole practitioners need financial plans and risk management plans to sustain their practices, relationships and livelihood. Risk management should be embedded into the DNA of any firm or project. Learn high level ideas related to capitalization and investing and how you can apply them using the ABC’s of finance (Agreements, Budgets & Billing, and Collections) as well as key principles and considerations in managing risk at both the firm and project levels.

Course expires 05/30/2025

Learning Objectives

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Understand basic finance structures for developing and maintaining projects, including examples of their application and be able to identify the ABCs of project management – agreements, budgets and billing, and collections.

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Learn best practices in proposing and defining your services to mitigate misunderstandings, manage expectations and shield yourself from potential future legal action.

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Identify common provisions and missing provisions in Owner Generated Agreements that can put risk and fault on the architect, as well as tips to lessen the risk in these types of agreements.

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Consider risk management planning and how to best select projects based on their associated risks; ultimately learning how to gauge the best coverage and protection based on the project types you or your firm creates.

Instructors

James R. Kimball, Jr.

AIA

A Registered Architect with over 30 years of experience, Jim is a proven leader in the professional services industry. He possesses extensive management experience, managing an office for a national A/E firm taking it from a $2 million loss to a $1.4 million profit in three years. As the Director of Marketing for another national A/E firm, he developed a specialization in branding, marketing and business development. Jim is currently a co-founder of Phase Zero Design, Inc.

Jim is also an Adjunct Faculty member of the Boston Architectural College where he teaches Professional Practice Management.

Jim is a thought leader and comments regularly on the trends and issues shaping the design industry. He is also an active participant in many trade organizations and has held several public service positions including the Town of Duxbury Planning Board and Design Review Board and the Massachusetts Bay Transportation Authority Advisory Board.

Jim is a graduate of the University of Detroit where he received a Bachelor of Architecture, cum laude and participated in the School of Architecture’s extension program in Firenze, Italia. He is NCARB certified and is licensed to practice architecture in 37 states and the District of Columbia.

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Larry LeMaster

As the CFO of Wilson Associates, Larry is a dynamic member of the executive leadership team. His acute analytic skill set, coupled with his sensible passion for the arts, allows him to manage the financials of a creative business with passion and understanding. Larry joined Wilson Associates after over 20 years at HKS, where he most recently served as CFO. His long resume of successes includes helping the firm expand from 250 to more than 1,400 employees. His biggest strengths are developing international currency and tax strategies, and he is committed to expanding Wilson’s service offerings across the globe. Outside the office, you can find Larry exercising his passion for the arts in local theaters, acting and directing. Larry also serves on the business development committee of the Dallas Symphony Orchestra.

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