Exploring New Values of Design Practice

How do we make design a more profitable practice? Design business has traditionally positioned building as a commodity in the delivery supply chain, valued by clients like other products and services purchased at lowest first cost. Despite the fact that the building sector in its entirety operates in large capital pools where significant value is created, intense market competition, sole focus on differentiation by design quality, and lack of innovation in project delivery and business models have resulted in a profession that is grossly underpaid and marginally profitable. The profession must explore new techniques for correlating the real value of an architect’s services to clients and thereby break the downward pressure on design compensation. This seminar redesigns the value proposition of architecture practice, explores strategies used by better-compensated adjacent professions and markets, and investigates methods by which architects can deliver—and be paid for—the value they bring to the building industry. Prerequisite: ARCH 2031 or equivalent strongly recommended. Limited enrollment.