Project Documentation: To Write or Not To Write

In suits alleging negligence in the performance of professional services, well-drafted documents and well-kept, comprehensive records are the strongest defensive weapons available to professionals.  The following practices and procedures can be vital to a firm’s continued profitability in the face of costly litigation.
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Employee Benefits Help Maintain Firm’s Success

Offering your employees good benefits, including salary, health care coverage, and retirement incentives are key to retaining your top employees and in return, contribute to your firm’s success. In a recent survey, The Study of Employee Benefit Trends, conducted by MetLife in 2010, 47 percent of employers said that keeping their current employees is their most important benefits objective—ahead of containing costs and increasing productivity. Your firm’s success relies on the talent, experience and dedication of your employees. Without them, your firm may not succeed—which is why most consider their employees to be their most valuable asset. Read more »

Insurance Concerns in Mergers and Acquisitions

As architects continue to face economic challenges in the architectural and broader economic community, merger and acquisition activity is again increasing in the design firm world.  Unfortunately, concerned more about clients and culture, too many firms wait until the last minute to consult with their insurance advisor. This is a bad mistake that can cost the buyer and the seller money, time and unneeded headaches. Read more »

Planning for Your Financial Security

Safe driving and accident prevention may help to ensure your safety, yet you can still be the victim of someone else’s mistake. Accidents kill someone every 4 minutes in America according to the 2010 Injury Facts report by the National Safety Council. In fact, accidents are the leading cause of death for adult Americans under the age of 34 and the fifth leading cause of death overall, and there are even more non-fatal but nonetheless disabling accidents every year—about 27.7 million. Read more »

Risk Management Tools for You & Your Firm

Architects confront risks daily – at many levels. From working with employees and maintaining your own office space to working with clients and contractors on job sites – along with all the regulatory and legislative requirements that frequently change – the risks are real and substantial.

In its role as a risk management resource for members, the AIA Trust works with a wide variety of important participants in the risk management arena. Often, the result of these working relationships is reports and resources on vital topics of interest to AIA Members—ranging from the annual survey of the professional liability insurance industry to white papers on vital topics of architectural practice. Read more »