The scarce resource in a practice is the principal's attention
An architecture practice does not usually lose money on projects it fails to win. It loses money on the hours spent before anyone decided whether the project was real. Consultations, sketches, site visits and fee discussions all consume senior time, and senior time is the only thing the practice actually sells.
A pipeline for a practice therefore has one main job. It should make the difference between a possible project and a conversation visible before the principal has spent an afternoon on it. Everything else the board does is secondary to that.
