COURSE OUTLINE

OPERATIONS MANAGEMENT
Profit Requirements

• The primary business objective: Profit
• 8 factors that spell the difference between profits and losses
• Cash flow required for a $50,000 contract

Analysis of the contractor

• The three major responsibilities of the owner
• The two major responsibilities of the manager
• 9 common elements of contractor losses

Estimating

• Take-offs, costing, site overheads and job profits
• Nasty question you don’t want to hear
• 11 risks in the estimating process
• Setting prices and establishing billable hours
• Equipment billing rate formulas
• 5 critical labour factors
• Analyzing your bid results

Labour productivity

• Impact of poor planning and scheduling – Chart
• The secret: 15 minute increments
• Timesheet controls
• 2 types of peer pressure
• 6 rules of leadership
• 7 causes of employee unrest
• 5 ways to assure proper direction to your employees
• 7 tips for effective employee communications
• Turnover costs

Materials and tools management

• The purpose of purchasing
• Preparing for major purchases
• 7 highly effective negotiation techniques
• Evaluating shop inventories
• 3 methods to dispose of surplus materials
• Care and maintenance of tools

Change orders

• 6 steps to ensure payment for all change orders
• The job supervisor’s one requirement
• The final question

FINANCIAL MANAGEMENT
Gross profit factors

• Using gross profit factors to assess overhead costs
• Establishing profit goals
• Forecasting profits and revenues
• Developing a profit plan

Cost Control

• Controlling costs
• Job cost reports
• Example of an inadequate job cost system
• Establishing job cost trends
• Job cost exercise
• 2 reasons to conduct job post-mortems
• 11 “hidden” costs

Billings

    Assigning responsibility

    One final question

Service

• Price increases
• What are you Worth? - short video

Cash Flow and Cash Management

• 6 steps to initiating a cash management system
• 6 sources of additional cash
• Leasing versus buying

Banking and financing

• How banks assess risk
• 6 items your banker or lender expects
   

Financial Reports

• 5 ways monthly statements help your business
• 9 financial statement samples

Accounts Receivable

• Collection warnings, policies and tactics
• 6 steps to rank your customers

Getting Value from Your Accountants

• 9 ways to get more value from your accountants and reduce costs
• Company automobiles and taxable benefits

Risk Management

• Insurance – property, liability, theft, key-man
• Computer back-ups
• Valuing and selling your business

Internal Control Procedures

• 7 mandatory procedures to safeguard your assets

Post-recession strategies

Summary – If I Managed Your Business