MEMBER FEE - $0.00
NON-MEMBER FEE - $350.00 Per Participant, Per Day
MANAGING THE LIFEBLOOD OF CONTRACTING - CASH FLOW
Cash flow is one of the most important issues facing contractors today. As the market continues to stay strong, companies are faced with starting new projects, hiring staff, and investing in assets to support the business. More companies go bankrupt due to cash flow issues than due to profitability. Many things can and should be done to improve cash management practices. We will explore a range of tools and techniques, from simple to complex, that allow firms to manage and control cash flow. Examples include contractual negotiation strategies, pricing and bidding practices, development of cost and resource-loaded schedules that tie to billing activities in the schedule of values, use of 12-week cash flow forecasts, project closeout procedures, and managing the billings and collection cycle. An interactive cash flow simulation provides hands-on experience that enhances the learning outcomes. Attendees to include project administrators, project engineers, project managers, project executives, group/branch executives, financial managers, owners
• Learn the importance of cash management practices
• Increase profits with billings and collections
• Apply tools and techniques that optimize cash flow
• Maximize cash flow with process standardization
• Create transparency and accountability with measurement
TEAMWORK AND TECHNOLOGY TO DRIVE ACCURACY IN PROJECT FINANCIALS
For many organizations, accuracy in projected project financials is little more than an educated guess. Significant changes in the forecasted performance of projects highlight internal weaknesses in financial talent. Proper processes, training and a culture of teamwork are the key components to improve this critical skill set. During this session, we will discuss best practices in financial controls, technology deployment, and with the roles and responsibilities necessary to create a predictable outcome in our construction jobs. Attendees to include field leaders, project administrators, project engineers, project managers, project executives, group/branch executives, financial managers, owners.
• Define the structural components of effective financial controls
• Discuss the roles and information sharing required for an accurate forecast and outcome
• Use of technology to share real time information to drive project production and profitability
CHANGE ORDER MANAGEMENT
Effective change order management can dramatically reduce a subcontractor’s risk and increase profitability. This four-hour interactive course explores the change order process from a subcontractor’s view point and provides participants with hands on training in recognizing, scoping, pricing, and negotiating change orders. This course culminates in a mock negotiation where participants can immediately practice the skills that they have learned. Attendees to include field leaders, project administrators, project engineers, project managers, project executives, group/branch executives, financial managers, owners.
• How to properly notify owners and general contractors of changed conditions to reserve your rights
• How to scope, price and sell a change order
• Negotiation strategies to maximize outcomes
PURCHASING BEST PRACTICES
The second greatest risk for electrical contractors is the ability to positively affect the supply chain for materials. In this session, we will discuss concepts behind effective material planning strategies, enterprise level purchasing methodologies, and managing the service levels of our material vendors. Attendees to include field leaders, project administrators, project engineers, project managers, project executives, group/branch executives, financial managers, owners.
• How to properly leverage preconstruction planning to drive a proactive purchasing strategy
• How to align risk management between labor and material in order to produce valuable project insight
• Vendor partnership agreement and vendor managed inventory structures and their proper deployment
TRANSFORM YOUR ORGANIZATION FOR THE FUTURE
With the future bringing more of the same accelerated challenges of schedule compression, pricing pressure, and manpower shortages, the industry will be forced to innovate at a heightened clip. Most contractors are trying to solve these massive industry issues with tactical solutions and everyone is basically trying the same approach they have used for years.
The reality is a new business model that is evolving to address these challenges with strategic, long-term solutions. Best in class electrical contractors are utilizing value stream mapping to visualize work systems (prefabrication, IT, financial systems, etc.) and identify the gaps, overlaps and roadblocks in how customer requests/orders are completed. We will use case studies of US based contractors including pictures and detailed descriptions of what they have done, why, and the substantial bottom line results they are enjoying. Attendees to include project managers, project executives, group/branch executives, corporate executives, financial executives, owners
• Learn to identify internal and external customers
• Define what your customers value
• Understand the fundamentals to developing a value stream map
• Identify how a gap analysis is used to highlight process improvements
LEADING AND MANAGING A REMOTE WORKFORCE
The events of 2020 may have forever changed the face of work as it was known. Working remotely has long been a sticking point between business owners and employees seeking freedom to work from home. Learning to lead and manage remote workforces is a different skill set and requires different tools and techniques to be effective. In this session, we will explore best practices in managing virtual meetings, defining goals and objectives and holding teams accountable for performance.
• Leadership vs Management
• Best practices in managing remote workforces
• Tools to lead effective remote meetings
• Goal setting and accountability in a remote setting
All 2021 Courses will be lead by