Please note that this is an 8-hour course that takes place over 2 days. Part 1 is Oct 27, and Part 2 is Oct 28. Both sessions run from 8:00am-12:00pm. There is no opportunity to re-schedule or for a partial refund if a student cannot attend both sessions.
You will receive login instructions from the instructor in advance of the workshop.
Many contractors have labour productivity concerns, high overhead costs, below-budget profits and one continuous headache with cash flow. The Profitable Contracting course provides operating, field personnel and administrative staff the systems and processes required to manage their expenses and improve profitability.
Profitable Contracting discusses both operational and financial management issues the instructor experienced during his career of over 35 years many of which will apply to your company: profit requirements, estimating, project management, labour productivity, human resource skills, materials and tools management, change orders, job costing, cash flow, AR collections, risk management, overhead controls, asset controls and a host of others.
All participants receive and take home a detailed course manual complete with all the topics, exercises and schedules need to improve their business.
- 8 profit requirements
- Losses common to many contractors
- Estimating – critical labour factors
- Materials and tools management
- Effective negotiation strategies for major purchases
- Controlling change orders
- Costs of lost productivity – direct and indirect
- Causes of poor productivity
- Effective planning and scheduling
- Managing human resources
- Cost control
- Cash flows and cash management
- Financial reports
- Controlling overheads – just 2 simple numbers
- AR and AP analysis
- Revenue goals – just 3 simple numbers
- Accounts receivable collections
- Using your accountants more effectively
- Bonding and insurance
- Protecting your assets from fraud
- Personal productivity
- Go-forward positioning
- Key strategies to maintain and improve profits and increase cash flow
- Managing labour productivity
- Effective human resource policies and procedures
- Forecasting adequate revenue to ensure overheads are covered and profit is achieved
- Ensuring that billings and change orders are controlled and monitored for collection
- Negotiating major material and equipment purchases and delivery dates
- Safeguarding company assets
- Reviewing, calculating and discussing financial performance tools that assist decision making
- Forecasting business and project cash flows
Instructor: Wayne Newell
For over 35 years Wayne served in senior financial leadership roles and worked with companies throughout Canada, the United States and the Caribbean. His experiences and expertise, shared with many companies, has helped owners, managers, employees and businesses grow. In doing so, he has amassed a library of knowledge on what makes a successful contracting company.
During his seminars he discusses his experiences in implementing specific techniques, methods and strategies used to help contracting companies increase profits, control and/or reduce costs and improve cash flows. He has been presenting his exclusive seminars in major Canadian cities since 2003. He was awarded his CMA in 1972!
October 27, 2021 - 8:00am - 12:00pm Pacific Standard Time (PST)
October 28, 2021 - 8:00am - 12:00pm Pacific Standard Time (PST)
For support or inquiries, please email firstname.lastname@example.org or call 604-293-2339.
Computer or laptop
- This course will involve on-screen interaction with your instructor and classmates, reading/viewing on-screen content (slides or videos), and interacting via typing with questions or responses. For this reason, cell-phones or tablets may not be adequate.
- Windows 10 or Mac iOS
- Webcam – in order to engage and collaborate, participants will be expected to have their webcams on for the duration of the class
- Internet connection - For best results, you will want to ensure you have an internet connection with an upload/download speed of 3-5 Mbps. You can test your internet speed here. Minimum recommended speed is 1.5 Mbps, but anything below 3 Mbps may result in loss of quality or buffering. Ideally hardwired connection versus wireless for stability - connect your computer directly to your router using an ethernet cable, rather than using your home wi-fi.
- A quiet space with minimal distractions - microphone will be engaged for interactive sessions. Please plan to be fully engaged in the class and clear your work schedule just as you would for the in-class program.
- Comfortable chair