Here’s how you identify where improved cost management would increase profits by answering these 5 questions…
- Can you properly reconcile where you are with cost against value on all of your contracts?
- Are you able to report cost and value at comparable levels?
- Is the format and layout of reports consistent from one contract or team to another?
- Are your cost-capture processes robust and stable?
- Do your teams truly understand the importance of your reporting cycle and disciplines?
Answer ‘NO’ to any question and you may find…
- Contract results often come as a surprise
- Adjustments/transfers can be the most significant part of the cost value reporting process
- You cannot readily follow or understand what is being reported
- You waste valuable time interpreting reports to get to the data you expect
- The elements that you track do not provide you with the most accurate up to date view
- You spend time ‘fire-fighting’ and educating individuals and teams
Without effective cost management how will you know whether current contracts and projects are profitable or not? How can you accurately forecast and how do you identify shortfall against targets before it is too late to change the outcome?
Contracting organisations such as Laing O’Rourke, Ringway, Atkins and Heathrow Terminal 5 have used Fusion-Commercial Associates’ in the specialist area of commercial management. Combining the expertise of a Chartered Quantity Surveying practice with extensive experience in construction IT, we bridge the gap between what business systems can achieve for you and what you really need.
Fusion-Commercial Associates will make a difference to your business
Employ a specialist commercial manager from Fusion-Commercial Associates on a basis that suits you and we will give you cost management strategies. We will:
- Define your requirement then assist you in setting up your cost coding hierarchies
- Investigate and review your current systems, processes, reports and procedures
- Use industry-wide and international experience to advise on best practice
- Document your existing processes and recommend new ones
- Train and mentor your staff
- Audit and enforce your cost-capture and reporting processes
We’ll give you a way of tracking your projects and business as a whole through the most accurate reporting information achievable within your business. You’ll be able to make timely and proactive management decisions on resource allocation and procurement methods to ensure business profit targets are managed effectively.
What’s the first step?
Invite us to visit you at your offices to review your existing cost management. We will create a report detailing the components of your current cost value reports, where the information comes from and how it is collated and presented. We will propose improvements and explain how we can make a difference to this process and your business.
Act quickly – if you are among the first 10 to request this review before 1st February your review will be FREE OF CHARGE. Contact Nick Curran now on 07710 479574 or email@example.com to arrange your review.
Nick Curran FRICS
Director, Fusion-Commercial Associates