M005 Conduct, Rules, Ethics And Professional Practice - Qs Appointments And Fees Apc

Front 1

How do you conduct a fee proposal?

Back 1

Resource schedule gives a cost. Expressed as percentage of contract sum, hourly rate, lump sum.

Front 2

What are the main elements included in a fee proposal?

Back 2

Terms and conditions
Scope of services
Exclusions
Assumptions – e.g. programme

Front 3

If you put together a fee proposal, but a couple of months into the job you realise that you have under forecasted your resources, would you go back to the client and ask for more money?

Back 3

If project requirements (services, scope, value) have increased, then would go back to client for more fees
But if remained the same, it is a mistake so deal with it and get it right next time.
Do not reduce level of service you offered originally.

Front 4

Once you and your client agreed the services to be provided verbally what would you do next?

Back 4

Follow up with a letter which included terms and conditions, fee and scope of services in writing.

Front 5

If the client gives you a lump sum fee before going on holiday, what would you do?

Back 5

Place in a separately identified client account and agree a drawdown of monies against services.

Front 6

If a client was prepared to pay you in advance for services you were providing, how would you ensure this was dealt with?

Back 6

Set up a separate named and clearly identifiable client account.
Provide the client with a statement of account.
Inform and agree drawdowns.
Prior to drawing monies send an updated statement with how much and for what fees
Once complete, show a final statement, ensure everything is complete and transparent.