A Museum is a Business, with Kris Collins

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Recorded08 May 2023

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What’s it really cost to build a museum? How can we find out if a project is financially viable — before we start? What are the most common ways museum projects get in financial trouble?Kris Collins, Managing Director of the Cultural practice group for MGAC, joins host Jonathan Alger (C&G Partners) to discuss “A Museum is a Business”. Along the way: projects of the heart, why you shouldn’t Google what museums cost, and what happens when your own kitchen goes over budget.Talking Points:1. A museum is a business. 2. Like any product, a museum succeeds if there is a need for it. 3. Museum founders are often successful businesspeople — but their experience might not be relatable to museums. 4. The routes for financing and financial management are different than in other businesses. 5. Museum buildings are twice as expensive as other buildings. 6. Do a feasibility study first. 7. Developing a workplan: scope, budget and schedule.Guest Bio:Kris Collins serves as a Managing Director of the Cultural practice group for MGAC, an Owner’s Representative and Project Management firm with offices across the US and UK. As an independent advocate for owners’ interests, MGAC has been helping clients with cultural projects since 1996. Kris is a licensed architect and LEED Accredited Professional, and he obtained a Masters in Management from University of Maryland while working for a national developer. He also trained as a carpenter and has actively participated in his community as a baseball coach and Scout Master – and was pleased that nobody died when the Scouts built a functional 18’ trebuchet. He has been a speaker at AAM, Building Museums, MAAM, CODAsummit, and Art World Conference.About:Making the Museum is hosted (podcast) and written (newsletter) by Jonathan Alger. This podcast is a project of C&G Partners | Design for Culture. Learn about the firm's creative work at: https://www.cgpartnersllc.comShow Links:[email protected]://www.mgac.com/projects/sectors/cultural/IAMFA Papyrus article on Conceptual Target Budgets Show Contact:https://www.makingthemuseum.com/contacthttps://www.linkedin.com/in/[email protected]://www.cgpartnersllc.comNewsletter:Like the episode? Subscribe to the newsletter! Making the Museum is also a very short daily newsletter on exhibition planning for museum leaders, exhibition teams and visitor experience professionals. Subscribe at: https://www.makingthemuseum.com

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