Webinar Led by Dave Burstein, Director, PSMJ
Reduce Project Losses
Write-offs and projects overruns can kill your profits. Yet, most firms don’t see them coming soon enough and are forced to deal with how to handle these challenges on a crisis basis. But, it doesn’t have to be this way. Reducing project losses begins with good time-entry procedures and getting project managers up-to-date information so they can make course corrections that save project profit.
Burstein will show you how the best performing firms combine accounting data with project status information from project managers to give you an early warning system that helps you avoid budget overruns. More importantly, you’ll learn how to do it in a way that your PMs will actually enjoy!
Maximize Cash on Hand
Managing cash flow is more important today than ever before. But, most firms don’t even track a critical metric that accounts for 1/3 of a firm’s cash flow.
Burstein will tell you what that factor is, why it’s important to track it regularly, and how to benchmark your results with other firms like yours. He’ll also tell you what the best A/E firms do to speed up their invoicing and collections.
Optimize Utilization of Your Resources
Most principals obsess over labor utilization and are constantly working to reduce overhead. Yet, PSMJ’s research shows that focusing on these metrics produces relatively small profit improvements. Get out of the rut of working harder to achieve ever smaller increases in labor utilization, while seeing minimal improvements in your profits!
Burstein will tell you what the really big profit drivers and where to focus to ramp up your firm’s profits. You’ll learn why PSMJ’s Circle of Excellence firms averaged over 22% profit in 2010, compared with less than 10% profit for average performing firms.
David Burstein, P.E.
As the Director of Client Services for PSMJ Resources, Inc., David provides consulting and training services on the subjects of strategic planning, marketing, project management, human resources, quality, finance and ownership transition. He has over 30 years’ experience in the management of AE firms, including senior principal for one of the nation’s largest and most respected engineering firms, Parsons Corporation.
Since 1979, David has written and lectured extensively on the subject of project management and has conducted over 100 seminars to over 3,000 engineers, architects and other design professionals. He co-authored Project Management for the Design Professional and Total Quality Project Management.
Axium helps streamline difficult processes and increase profitability with easy-to-use accounting software and project management software for engineers and architects.
Axium provides software solutions specifically for project-focused AE firms ranging in size from 10-person design studios to large, multi-location companies.