The financial and administrative aspect of an engineering firm is a difficult but unavoidable task for most engineers in their career . We're trained and focused on making our structures stand to all types of stresses in their life time but fail to ensure that our firms resist the financial stress.
Great video package Brendan ! Given structural engineers have mastered the rigor of engineering design the project finance part can be relatively straight forward when understood clearly as you have explained in this video. Cheers
This is a great video! Working in concrete, the way you estimate projects is very similar to how concrete contractors bid work. It looks like engineers, GCs, or plumbers all estimate in a similar fashion when it comes to their either bid or T&M tickets. Examining the complexity of a project seems to be the major key, and everything else can fall into place
Thanks so much for making this video. As an EE I struggle with pricing out freelance jobs. You identify nicely how you approach it and what to account for.
The biggest issue I'm facing currently is educating our clients on fees and our values as engineers. Unfortunately most people see engineering as a commodity, and simply appoints the cheapest engineer, and then unknowingly end up paying much more for an uneconomical design. People generally don't shop around for the cheapest doctor or lawyer, but when it comes to spending huge amounts on construction, they just want the engineer with the lowest fee.
Hi Theuns agree that engineering has become a commodity; it is partly our fault as an engineer we chased for the cheapest fee. Now we need to build back up. It takes time and a lot of educating clients.
Please do , capping beam , piles and the Shotcrete wall and how they work together structurally speaking and what will happen if piles are out of tolerance.
I have come across design engineers that stop their Professional Indemnity Insurance (PII), when they take on an employee role and then take up new PII when they go back to private consulting. I always thought that this was nonsense as their exposure was constant, and the new PII may not cover the past design work. Is this a fact of life young design engineers do not appreciate?
@@BrendanHasty I was talking about individual engineers designing earth retaining walls on steep slopes, for example. If the wall failed then homes below would be affected/damaged/people injured. The engineer would have been held responsible unless he could proof that others had caused the failure. His entire wealth and his freedom could be at risk. Manslaughter. His estate after he had died could be still be pursued through the courts. Engineers are not like doctors when a patient dies.
How a foreign civil engineer can work at USA? I want to work there. Too burocratic? To work as a Estructural Engineer, need more atribuition as a "normal engineer"?
I thought this was a really good overview of fees and project scoping for engineering projects. This stuff applies for small businesses too - for my engineering business, the only things that are different are the type of work that I’m doing (mechanical not structural), and the fact that I fulfil the role of engineer and “auxiliary staff.” Keep up with the great content!
Bro, you speak too fast!!. I mean, I know english is not my first language but still... your accent doesn't help either. Anyway, great video as always...
The financial and administrative aspect of an engineering firm is a difficult but unavoidable task for most engineers in their career . We're trained and focused on making our structures stand to all types of stresses in their life time but fail to ensure that our firms resist the financial stress.
Hi Mussie, it is a topic that needs a bigger spotlight on to. It isnt as stressful if managed correctly.
Right u have 15k subs right now. I've subbed to u around 9k I think. Wow ur growing fast. Keep going 👌💯💯
Hi A .R last month was huge almost 6 k subs thanks for the support.
Great video package Brendan ! Given structural engineers have mastered the rigor of engineering design the project finance part can be relatively straight forward when understood clearly as you have explained in this video. Cheers
Hi Mark, thanks for watching. Agree, finances are not that complex but is something engineering often overlook.
Another topic we in the industry don't talk about. Thank you for the video, Brendan.
Hi Edward, your welcome. Thanks for the support.
This is a great video! Working in concrete, the way you estimate projects is very similar to how concrete contractors bid work. It looks like engineers, GCs, or plumbers all estimate in a similar fashion when it comes to their either bid or T&M tickets. Examining the complexity of a project seems to be the major key, and everything else can fall into place
Hi Daniel, Great to know there are similarities.
Thanks so much for making this video. As an EE I struggle with pricing out freelance jobs. You identify nicely how you approach it and what to account for.
The biggest issue I'm facing currently is educating our clients on fees and our values as engineers. Unfortunately most people see engineering as a commodity, and simply appoints the cheapest engineer, and then unknowingly end up paying much more for an uneconomical design. People generally don't shop around for the cheapest doctor or lawyer, but when it comes to spending huge amounts on construction, they just want the engineer with the lowest fee.
Hi Theuns agree that engineering has become a commodity; it is partly our fault as an engineer we chased for the cheapest fee. Now we need to build back up. It takes time and a lot of educating clients.
Please do , capping beam , piles and the Shotcrete wall and how they work together structurally speaking and what will happen if piles are out of tolerance.
thanks for the support and suggestion this seem like a good topic. I will add it to the list
Great video, but I've a question. How do engineers in Australia usually charge for small projects as freelance? For example for a single family house.
HI Alvarofue, it really depends. A family house can be complex so it is important to understand their expected budge.
I have come across design engineers that stop their Professional Indemnity Insurance (PII), when they take on an employee role and then take up new PII when they go back to private consulting.
I always thought that this was nonsense as their exposure was constant, and the new PII may not cover the past design work.
Is this a fact of life young design engineers do not appreciate?
Typically in Australia it is the company, not the specific engineer needs the PI. However, in Queenland specific designs are responcable.
@@BrendanHasty I was talking about individual engineers designing earth retaining walls on steep slopes, for example.
If the wall failed then homes below would be affected/damaged/people injured.
The engineer would have been held responsible unless he could proof that others had caused the failure.
His entire wealth and his freedom could be at risk. Manslaughter.
His estate after he had died could be still be pursued through the courts.
Engineers are not like doctors when a patient dies.
Do you take into account sound proofing of new homes and commercial buildings?
This would be part of the Architectural design not structural design. There are many ways to sound proof, thicker floors help.
Great video👍
thanks for watching
Great video
Thanks for the support.
How a foreign civil engineer can work at USA? I want to work there. Too burocratic? To work as a Estructural Engineer, need more atribuition as a "normal engineer"?
Hi Eduardo, I haven't look at working in the USA. However, being chartered in IStructE would help.
Sir, what's your views on BIM.
Hi Yuganghar, BIM is going to become more common.
To be honest, I was expecting something I can relate to as a small business owner. But by any means, this is great content, so keep going, sir
It was the basics sorry it didn't meet your expectations, it is sometimes hard to talk money when working for a big company
I thought this was a really good overview of fees and project scoping for engineering projects. This stuff applies for small businesses too - for my engineering business, the only things that are different are the type of work that I’m doing (mechanical not structural), and the fact that I fulfil the role of engineer and “auxiliary staff.” Keep up with the great content!
Hi Micheal thanks for the support.
I thought it was certain percentage of the total cost of construction that engineers charge ?is it true
It can be but not always, this is just one metric that is considered.
Bro, you speak too fast!!. I mean, I know english is not my first language but still... your accent doesn't help either. Anyway, great video as always...
Hi Luis, Thanks for the feedback this will be something I will work on.
1st like
Thanks for the support Archita Das
Great video
thanks for the support Matthew