Many contractors have labour productivity concerns, high overhead costs, below-budget profits and one continuous headache with cash flow. The Profitable Contracting course provides operating, field personnel and administrative staff the systems and processes required to manage their expenses and improve profitability.
Profitable Contracting discusses both operational and financial management issues the instructor experienced during his career of over 35 years many of which will apply to your company: profit requirements, estimating, project management, labour productivity, human resource skills, materials and tools management, change orders, job costing, cash flow, AR collections, risk management, overhead controls, asset controls and a host of others.
All participants receive and take home a detailed course manual complete with all the topics, exercises and schedules need to improve their business.
- 8 profit requirements
- Losses common to many contractors
- Estimating – critical labour factors
- Materials and tools management
- Effective negotiation strategies for major purchases
- Controlling change orders
- Costs of lost productivity – direct and indirect
- Causes of poor productivity
- Effective planning and scheduling
- Managing human resources
- Cost control
- Cash flows and cash management
- Financial reports
- Controlling overheads – just 2 simple numbers
- AR and AP analysis
- Revenue goals – just 3 simple numbers
- Accounts receivable collections
- Using your accountants more effectively
- Bonding and insurance
- Protecting your assets from fraud
- Personal productivity
- Go-forward positioning
- Key strategies to maintain and improve profits and increase cash flow
- Managing labour productivity
- Effective human resource policies and procedures
- Forecasting adequate revenue to ensure overheads are covered and profit is achieved
- Ensuring that billings and change orders are controlled and monitored for collection
- Negotiating major material and equipment purchases and delivery dates
- Safeguarding company assets
- Reviewing, calculating and discussing financial performance tools that assist decision making
- Forecasting business and project cash flows
Format: One day (7 hours) of in-class instruction.
Owners, project managers and coordinators, estimators, project leaders, accountants and anyone who can influence profits.