Relationships Between Fees And Projects, Firms, Standard Of Care, And Client-levels Of Service

Assumptions for the Assignment regarding Client, Market, Project and Firm

0A) General summary of relationships between Fees, and a) the Project/Process, b) the Firm/Business, c) the Societal/Legal Standard of Care, and d) higher client-specific levels of service. [include all of these]

 Ans: The amount of fees required   for  conducting  any project  depends on the activities   and expertise  required   for  achieving the aims and   objectives of a project, along with  the planning, estimation,  financing,  budgeting,  funding and management activities  to be  conducted during  the same.

  On the other hand, the nature of the business to  be conducted  and  the domain   of  the project  work are also  determine the  fees  to be paid  to the project team. Besides  this,  fees   of the project team varies significantly  with  the purpose I or objective with which  any  organization project or  program is being conducted.

  In order to meet the client-specific levels of service and provide high-end service to the client, alignment of the project fees structure with that of the   expertise required to perform the project activities   is also essential.

0B) Your assumptions for the Assignment regarding Client, Market, Project and Firm [brief sentence]

 Ans.The following assumptions have been made for answering the questions included in the following section of the report:

1.     An ongoing project at a marketing firm is being considered
2.    For the task of fees consideration, both proportional fees to be paid by the firm and referred fees would be considered.
3.   The total fee for the project would be estimated based on the following factors:
4. The total project that is   being conducted.
5. The activities to be conducted during the course of the project.

1) Step 1: Consulting with the Client about Needs, Priorities & Approaches for BOTH Parties [0.5 pg. min.]

1A) “Project-variables”impacts on the Proposal(Focus on:  Fee ←→Project Tasks←→S of C)

1. a) List-of-questions “A” for Client about ProjectTasks variables, if Client/Market requires a “threshold” fee:

Ans. Following are the questions to be asked to the client:

1. What amount of capital is required for the conducting the total project?
2. How can the project activities be subdivided or sub-grouped   so as to achieve the project objectives?

Iii. How many   resources is the client end willing to   employ for the project?

1.   How can the project activities possibly affect the environment?
2. b) List-of-questions “B” for Client about ProjectTasks variables, if Client/Market allows a “preferred” fee:

Ans. Following are the questions to be asked to the client:

1. What is the exact number   of buildings/ structures that the client   wishes to construct?
2. What strategies does the client intend to use for the management of the cost constraints of the project?

1B) “Firm-variables” impacts on the Proposal(Focus on:  Fee ←→Firm OH←→S-of-C support)

1. a) List-of-information “A” for Client about FirmOH variables, if Client/Market requires a “threshold” fee:

Ans.List-of-information:

1. The type of materials   to be required for completing the project
2. The total number of labor required for completing the project
3. The requirements of the project, along with the designs and plans  to be utilized  for developing the buildings.

 b) List-of-information “B” for Client about FirmOH variables, if Client/Market allows a “preferred” fee Ans.

1.  Services required by the client  end
2. The maximum number  of  workers  who should be present  at  the work site on  a daily basis

2)  Step 2:  Identify Services Strategy, Work-Scope, and Team [0.5 pg. min.]

2A) “Project-variables” impacts on the Proposal(Focus on:  Fee ←→ Project Tasks←→ S of C)

1. a) Services-Strategy “A” for ProjectTasks variables, if Client/Market requires a “threshold” fee: Ans.
2. Services would be provided so  as to ensure that  the objectives  and  target   of the project is  met with
3. Services would be provided with the aim of meeting all the requirements included in the project proposal and the service level agreement made with the client.
4. b) Services-Strategy “B” for Project Tasks variables, if Client/Market allows a “preferred” fee:Ans.
5. Services would be provided so  as to ensure the  full utilization  of the preferred fee
6. Services would be provided so  as to ensure  that the project   activities   are completed  within  the estimated  time.

2B) “Firm-variables” impacts on the Proposal(Focus on:  Fee ←→ Firm OH←→ S-of-C support)

1. a) Services-Strategy “A” for FirmOH variables, if Client/Market requires a “threshold” fee: Ans.
2.   Services would be provided to the client in a manner such that there is  a minimal  impact of the  project on the environment.
3. b) Services-Strategy “B” for Firm OH variables, if Client/Market allows a “preferred” fee: Ans.
4. Services would be provided so  as to ensure that the resources allocated to the project are  well aware of  their roles and  responsibilities and  are capable of   completing the project successfully.

3)  Step 3:  Estimate the Cost of Providing the Services [0.5 pg. min.]

3A) “Project-variables” impacts on the Proposal(Focus on:  Fee ←→ Project Tasks←→ S of C)

1. a) Estimate of Services-Cost “A” due to ProjectTasks variables, if Client/Market requires a “threshold” fee: Ans.

   An amount of 10000 dollars (approximately) would be required  for  completing the project  in accordance to the details included  in the project  proposal.

1. b) Estimate of Services-Cost “B” due to ProjectTasks variables, if Client/Market allows a “preferred” fee: Ans.

 The preferred  fee required for completing  the project would be much  lower than that of the  threshold   fees: it  is being estimated  that the preferred  fee  would   be  approximately 800 dollars.

3B) “Firm-variables” impacts on the Proposal(Focus on:  Fee ←→ Firm OH←→ S-of-C support)

1. a) Estimate of Services-Cost “A” due to FirmOH variables, if Client/Market requires a “threshold” fee: Ans.

   The estimation of the service cost would  be made keeping  in mind  the fact that  neither  should  the project be  over-priced nor  should the quality  of the services   be  compromised with.

1. b) Estimate of Services-Cost “B” due to FirmOH variables, if Client/Market allows a “preferred” fee: Ans.

  The preferred fee of the project would be significantly lower than that of threshold fee of the project

4)  Step 4:  Evaluate Risk Factors & Apply Appropriate Contingencies [0.5 pg. min.]

4A) “Project-variables” impacts on the Proposal(Focus on:  Fee ←→ Project Tasks←→ S of C)

1. a) Risk Factors/Contingencies “A” due to ProjectTasks variables, if Client/Market requires a “threshold” fee: Ans.

 In case the threshold of the projects is not met with, the quality of products or services,  being provided would be deteriorated  or degraded.

1. b) Risk Factors/Contingencies “B” due to ProjectTasks variables, if Client/Market allows a “preferred” fee: Ans.

  Some of the contingency or risk   factors associated   with the   project are :  

1. Some of the most important members of the project team might leave the organization during the  project cycle.
2.   The estimated budget might not be sufficient for completing   the project.

4B) “Firm-variables” impacts on the Proposal(Focus on:  Fee ←→ Firm OH←→ S-of-C support)

1. a) Risk Factors/Contingencies “A” due to FirmOH variables, if Client/Market requires a “threshold” fee: Ans.
2.    The higher management   of the marketing firm   might not be supportive towards the project team.
3. The working environment of the project might not be suitable for completing the project   in a successful manner.
4. b) Risk Factors/Contingencies “B” due to FirmOH variables, if Client/Market allows a “preferred” fee: Ans.

 The outcomes of the project might not meet the quality levels of included in the project proposal.

5)  Step 5:  Assess the Firm’s Client/Market Strength & Add Appropriate Profit Margins [0.5 pg. min.]

5A) “Project-variables” impacts on the Proposal(Focus on:  Fee ←→ Project Tasks←→ S of C)

1. a) Strengths/Profit Margins “A” due to ProjectTasks variables, if Client/Market requires a “threshold” fee: Ans.
2. Project should be completed within the scheduled time
3.  Appropriate change management  techniques should be utilized
4. b) Strengths/Profit Margins “B” due to ProjectTasks variables, if Client/Market allows a “preferred” fee Ans.
5.  Ability to meet  the specific requirements of the project

5B) “Firm-variables” impacts on the Proposal(Focus on:  Fee ←→ Firm OH←→ S-of-C support)

1. a) Strengths/Profit Margins “A” due to FirmOH variables, if Client/Market requires a “threshold” fee: Ans.
2.   When the general  requirements  of the project are  successfully  met   with,  the realization  of  profit  would be possible.
3. b) Strengths/Profit Margins “B” due to FirmOH variables, if Client/Market allows a “preferred” fee: Ans.

1.   Large number of customers utilizes the services   of the project.
2.  The   target   of the firm is met with.