We generally use a milestone-based approach to management and compensation. We get paid for sound judgment, performance, and risk. We do not typically bill by the hour, but for selected consulting work where the scope is not well defined, we can bill for time. Most often, however, we work with our clients to clarify scope, identify key milestones based on phases, results or decision points during the development process. This is a collaborative process with the owner and other stakeholders to ensure that the milestones align with financial and risk management priorities and provide a clear and comprehensive roadmap for project success.
We review the scope of work between milestones and develop a schedule of values for our services during each milestone period. The guaranteed fee accounts for all activities anticipated during each phase. If the scope changes, we notify our clients in advance and review options for controlling cost.
On projects with entitlement or other significant risks at the front end, we can develop a fee structure that accounts for the risk and is weighted toward the back end of the project. This helps owners to minimize cost and risk during the early phases of the project. When appropriate, we may even defer a portion of our fee in exchange for equity or a share of revenue at the back end of the project.
We do not layer additional, undisclosed fees or collect transaction-related commissions from third parties without the express consent of our clients. This helps us avoid potential conflicts of interest and maintain complete transparency in our process. Our fees are variable depending on the scope of work we’re hired to perform but are usually offset by the savings and value we create.
