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

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