MEMBER FEE - $0.00
NON-MEMBER FEE - $350.00 Per Participant, Per Day
2022 VIRTUAL
1. ENABLING SUCCESS – CREATING ALIGNMENT BETWEEN FIELD AND OFFICE For construction firms to thrive, synergy, teamwork and trust must exist between the office and the field. The proper deployment of defined processes and tools will facilitate this critical alignment. This collaboration must begin before mobilization, and continue through project closeout. During this session, we will discuss the workflow that must exist in order to mitigate risk and maximize productivity. During this session, we will discuss why the processes of preconstruction planning, short interval planning, production tracking, daily project reports, exit strategy, and lessons learned are critical to the organization. We will also discuss what the benefits are for each member of the team, and how these processes can be properly implemented. Learning Objectives: • Describe the information needed to effectively navigate preconstruction planning • Learn the critical communication required in short interval planning • Discuss the importance of accurate production tracking • Identify the needed data transfer of a daily project report • Outline the data collection required of the project team during closeout and lessons learned 2. THE LIFE CYCLE OF ESTIMATING – BIDDING WITH MORE DATA AND LESS GUT With the technology available to the industry, it is entirely possible to price work utilizing data in lieu of estimating software with the “hope” that it contains the right information to help land the job AND not lose profit. During this session, we will discuss the life cycle of estimating and the critical path of information that must be shared through the get work, do work, and keep score functions to allow for this critical information to be gathered, extracted, and utilized. Learning objectives: • Define bid selection criteria - not all opportunities are good ones • Discuss the utilization of data and data mining in bid strategy • Outline the link of consistency required between estimating and work breakdown structure • Show the critical role of the estimator in the essential preconstruction planning process • List the lessons learned needed to close the information loop. This is the most valuable information that is so seldom shared 3. CRACKING THE ‘WIP’ – DRIVING PREDICTABLE COST PROJECTIONS Many project managers lack a clear handle on how their projects are performing financially. Most commonly it is because they have not been trained on how to forecast properly. We find many contractors struggle with how to build a robust cost projection process that provides for consistency and predictability. Profit fade at 90% complete is no longer an option in today’s market. Teach project manager how to properly set up job budgets, track progress and forecast accurately. Moreover, learn critical financial indicators that point to problems on projects early so they can be rectified. Learning Objectives: • Identify how to manage work-in-process for better profitability • Understand the relationship between project profitability and processes (budgeting, forecasting, change control, job status reporting and WIP) • Apply earned value reporting to projects 4. 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 Learning Objectives: • 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 5. INEQUITABLE PAYMENT PRACTICES Specialty contractors are expected to manage many forms of risk; some of which is inherent to the trade. Other forms of risk, such as payment practices that result in carrying the cost of capital for 30-60-90 days, have a significant impact on your ability to remain financially solid and/or acquire new work. This presentation quantifies the impact of slow payment and identifies mitigation strategies to address inequitable payment practices and protect the interests of specialty contractors. Learner Outcomes: • Quantification of the impact of inequitable payment practices • Specific, tangible things specialty contractors can do to improve payment cycles • Jurisprudence surrounding contract language and enforceability • Negotiating points with general contractors and owners • Legislative talking points 6. SCALING FROM WITHIN – SUCCESSFUL EMPLOYEE ENGAGEMENT AND DEVELOPMENT Hiring mid and upper-level managers in today’s market is extremely difficult. While hiring from the outside has been a leading strategy for those experiencing growth, the staff shortages being realized today call for stronger approaches to recruiting, engaging, training, and retaining top talent. During this session, we will explore proven strategies for growing your staff from within by investing in your employees. During this session, we will: • Discuss the concept of bottom up growth and its value to the overall organization • Discuss the need for definition of success for each operational position • Outline the skillsets necessary for development and growth • Define the processes required for employee engagement and learning • Discuss compensation structures as a means for retainage |
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