Manging Work in Progress
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.
Following this course, participants will be able to:
• Identify how to manage work-in-process for better profitability
• Explain the relationship between project profitability and processes (budgeting, forecasting, change control, job status reporting and WIP)
• Describe how to apply earned value reporting to projects
• Learn key performance indicators that point to critical project performance problems
Target Audience: Senior executives, financial managers and project managers
Key Performance Indicators
Effective financial management expertise at the top of your operation is expected. However, it is common knowledge that effective financial management at the project management level is critical to your firm’s financial success. Learn how to identify the key indicators that monitor project performance and allow you to drive responsibility to the project level, affecting the greatest positive change. Discover how to automate processes throughout different levels of your organization so that the correct information is reaching the right staff levels in a timely manner.
Following this course, participants will be able to:
• Describe key performance metrics that create actionable information
• Discuss data collection and metric automation methods
• Explain deployment options