05/14/2008, 8:30 AM - 5:30 PM
Learning Units: 7.50-Intermediate level
Training Units: 1.875-Training Area 15 (Office Management)
In the highly competitive design industry, many firm principals believe their business decision options are limited by factors beyond their control. Like many others in this industry, the focus on winning clients can overshadow the most critical aspect of a design practice: financial management. Firms that have found a way to combine design excellence with sound financial management are almost always the most successful. This workshop will provide a path to enhance a firm's profitability.
Learning Objectives:
- Explain how to develop an annual budget and profit plan that will establish the overhead and break-even rate for every employee
- Explain how to develop project fee budgets based on value-added service, not just time-to-complete compensation, leading to a fee negotiating strategy that ensures a win-win outcome every time
- Determine how to set up, interpret and evaluate the profit/loss statement and balance sheet so trends can be recognized, the balance between workload and staff size can be assessed, and overhead more effectively managed and controlled
Speakers: Michael Tardif, Assoc. AIA, CSI, and Steve L. Wintner, AIA
Provider: AIA Practice Management
WE25a Wednesday, 8:30 a.m.-5:30 p.m., $225 AIA member
WE25b Wednesday, 8:30 a.m.-5:30 p.m., $295 Nonmember
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