Know your options for ownership transition. ⢠Understand the pros and cons of various financial management software op
Sponsored by:
A / E / C
Successful Financial Management S E MI N A R
How to Thrive in the New Economic Reality of the A/E/C Industry
n June 7-8, 2012
n July 26-27, 2012
n June 14-15, 2012
n August 2-3, 2012
n July 19-20, 2012
n August 16-17, 2012
San Francisco, CA Atlanta, GA
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0 day eceive 3 y a a E er and p te and r n! t a o Regis eminar d registrati the S off your $200
Boston, MA
Denver, CO Chicago, IL
Seattle, WA
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P S M J ’s
10
Successful Financial Management
Reasons You Should Attend:
• Strengthen your firm by actually slashing unproductive overhead. • Get PSMJ’s exclusive “strategic pricing model” that ensures you’re maximizing profits in all your major markets. • Discover 10 contract terms guaranteed to get you paid faster. • Learn the 5 key indicators that every A/E/C Firm Principal, Financial Manager, Project Manager, and marketing director should be watching for every month. • Learn how Financial Managers should communicate financial results to non-financial Principals. • Find out how to operate consistently with negative WIP. • Strengthen your negotiating skills with banks to ensure you get the best possible terms and conditions. • Know your options for ownership transition. • Understand the pros and cons of various financial management software options, and which are best for your firm. • Learn how to compensate your staff (salaries, benefit, and bonuses) in order to hang on to key people while remaining competitive in the marketplace.
SEMI N AR
Managing the Recovery:
How to Thrive in the New Economic Reality of the A/E/C Industry No doubt, the recent recession tested our resolve like no other economic downturn in recent memory, and we’re still feeling the aftershocks. But…
• Commercial markets are beginning to bounce back.
• Banks are a bit less fearful about lending money, although developers are still asking design firms to help finance their projects.
• Tax receipts of state and local agencies have stabilized, but they still have litttle money for projects.
• The federal government’s budget deficit is declining but will continue to depress their appetite for new projects.
The challenges are still daunting, but there are new opportunities on the horizon. And we’re here to steer your firm through both the challenges and the opportunities. Come join your industry peers for 2 days of innovative thinking and sound financial strategy at PSMJ’s 2012 A/E/C Successful Financial Management Seminar. Here’s a taste of what you come away with at this seminar:
• Help your firm decide where it should focus its business development budget with financial metrics that resolve questions of effectiveness.
• Maximize your firm’s profits with creative new pricing structures for your services.
• Compare your firm’s financial performance with that of similar firms with similar clients and projects.
• Learn how to keep your projects under budget when the staff is dumping hours onto projects in order to remain highly billable.
• Find out which financial software is best for your firm.
• Discover how to accelerate collection of your accounts receivable.
• Find ways to significantly reward your top performers without spending any cash.
We’re on a mission to help firms like yours navigate their way back to prosperity and growth. Attend PSMJ’s 2012 A/E/C Financial Management Seminar to ensure your firm is among them!
Who Should Attend?
Now more than ever, firm leaders need to get serious about financial management! Prior to the recession, when money was pouring in, firm leaders didn’t need to be so strict with spending or so conservative with their financial management. Coming out of the recession, firms with poor financial management and controls are much more likely to rebound slower than those that have taken a disciplined approach to managing their finances. Now, your firm’s very survival might depend on the financial intelligence of your entire management team, including:
• CEOs, CFOs, COOs
• Controllers
• Financial Managers
• Senior Project Managers
• Principals
(who need to learn more about financial management)
Our interactive, two-day seminar is extremely useful for those looking for all levels of financial information, from understanding basic financial indicators your firm should be tracking, to interpreting predictive financial metrics for more accurate financial forecasting. In addition, firm leaders learn how to deal with issues like ownership transition, employee compensation, and business development costs with a tight fiscal budget. Come to PSMJ’s A/E/C Successful Financial Management Seminar and learn how to better manage your firm’s finances today!
What You Should You Expect: Your blueprint for a powerful two-day learning experience This is not a “canned” seminar. For over 35 years, every PSMJ seminar has been designed to meet participants’ specific needs. Since we’ve been in your shoes, we know what the industry specific issues are, and have designed this seminar to address virtually any financial challenges you may have. This seminar spreads 12 hours of education over 2 days of learning, and answers these questions: 1. Key Financial Indicators Are you using the right metrics and models (and relying on the correct indicators) to get the information you want? Do you fully understand what drives profit in your firm? (Hint: if you haven’t been to this seminar, you probably don’t!) 2. Important Trends in the A/E/C Industry What are the implications of “The Great Recession” and the current recovery on our industry? What are the long-term financial trends of our industry? 3. A Real-Time Benchmarking Workshop How does your firm compare to other A/E firms of similar size, practice areas and project types? How does your firm compare to the most successful firms in our industry (PSMJ’s Circle of Excellence Firms)? How to use the benchmarking data you get in this seminar to inform and drive improvements in your firm. 4. Business Planning and Budgeting How do you align your strategic plan, business plan and annual budget? What’s PSMJ’s simplified Business Plan Template, and how do you use it? 5. Pricing to Maximize Profits What are the advantages and disadvantages of cost-based vs. value-based pricing? How do you best determine the pricing for your firm? 6. Contracts What contract types are riskiest? How can you benefit from lump-sum contracting? What are the risks? 7. Project Financial Management What are the best methods for budgeting projects? How can reducing “Net Revenue Deficit” lead to greater profitability? How can PSMJ’s PlanTrax® software (included in this seminar) help you track budgets, schedules and resource needs? 8. Organizational Structure When should you set up profit centers and what do they do for you? (Hint: you probably have more profit centers than you need.) When should you consider setting up a subsidiary?
9. Managing Cash How can PSMJ’s Excel® template for cash flow management benefit your firm? How do you get paid faster and reduce WIP to zero or less? 10. Managing Overhead What are the best approaches to understanding and controlling overhead? How do you handle underperforming aspects of your business? 11. Banking Relationships What do banks want to know about you, and should you use more than one? How to use financial leverage. 12. Salaries and Incentive Compensation How to use PSMJ’s “salary envelope” for internal and external benchmarking to be sure your salary structure is correct? How to create a compensation program for your various levels of employees that won’t bankrupt your firm. 13. Firm Valuation What affects your firm’s value? What are the best techniques for establishing your firm’s value? 14. Ownership Transition When’s the right time for an ESOP for your firm? From start to finish: how to create an Ownership Transition Plan 15. Mergers & Acquisitions Why is now a prime time for mergers and acquisitions, and how do you know if it’s a good time for you? What are the biggest blind spots in due diligence? Why do most acquisitions fail to meet their objectives? 16. Dealing with the Federal Accounting Regulations How do you avoid criminal penalties for non-compliance and negotiate with government agencies? How do you maximize your FAR overhead rate while adhering to the new AASHTO guidelines? “It really helped that the instructor has a CPA background and had worked in an A/E firm. He could really relate to our issues.” — Deborah Drexel, Business Manager, CivilArts
Program Hours: Day One 8:33 a.m. to 5:00 p.m. Day Two 8:03 a.m. to 3:30 p.m.
Your Facilitators: David Burstein, P.E. has 30+ years of design firm experience in a
variety of management positions, including president of a 100-person planning company and of a 1,800-person engineering company. As a PSMJ consultant, he has helped dozens of design firms achieve breakthrough improvements in their businesses. In addition, he has written three books on design firm management and has delivered hundreds of seminars on the subject. T. Wayne Owens, CPA has 30 years of consulting, auditing, and
financial management experience. His experience includes a national accounting firm and four years with an architectural firm. His practice is exclusively for A/E/C firms, for whom he provides a full range of services including consulting, auditing, FAR Overhead Audits, taxation and accounting system selection, and implementation. In addition, he has written numerous articles on design firm financial management and delivered numerous seminars and presentations on the subject. Brad Wilson, CMA has A/E/C industry experience that spans 20
years, including CFO of a successful architectural firm. Brad has extensive experience as a senior design firm leader and is currently PSMJ’s Mergers and Acquisitions expert. He’s well-versed in the “ins-and-outs” of M&A and has facilitated transactions for hundreds of satisfied design firm clients.
Our NO RISK Guarantee Still on the fence about registering? If you don’t agree that this is the best seminar of its kind you’ve ever attended or if you are unsatisfied with the quality of the seminar for any reason, or you feel it did not address your concerns or issues, please send us a letter detailing the reasons you were not satisfied, and we will arrange for you to attend another seminar/bootcamp or return your investment in full. If you choose to receive the refund, we will return 100% of the registration fee, and you still get to keep the special registration bonuses offered… there is virtually no risk!
Can’t Come To Us?
Bring our specialized expertise to your office! PSMJ’s expert consulting team can assist on a wide range of Financial Management issues! Contact Kim Pazera today to at (617) 965-0055 to learn what we can do for you!
Our Sponsors:
Axium is dedicated to developing accounting, project management and business development software for the architectural and engineering industry. For more than 20 years, their developers and support staff have focused on meeting the needs of project-driven firms with the goal of creating easy-to-use software that improves productivity and increases profits. They have earned the title of one of Oregon’s Top 100 Companies for the last two years. Their premier software, Ajera, is the best AE-tailored software for collecting, presenting and sharing powerful project, financial and marketing information. Their software can help you: increase productivity and profitability, control costs and improve billing, increase client delight, improve team collaboration and communication, forecast project success with earned value analysis graphs, and complete more projects on time and under budget.
BQE Software is the world leader in time tracking, billing and project management software for professional service firms. Its products, including, BillQuick®, ArchiOffice® and EngineerOffice®, simplify the way information is entered and utilized by businesses. With over 250,000 users, BQE is the trusted solution worldwide for architects, engineers, accountants, attorneys, IT consultants and business consultants. The company is headquartered in Torrance, California with offices in Australia and Europe. For more information, visit www.bqe.com.
“Very good course! I learned a lot of very practical information that I can use immediately.” — Robin Hewlett, Controller, Parametrix, Inc.
“David provided extremely valuable knowledge and insight into the factors that influence profitability.” — Joan Glynn, Division Manager, Greenhorne & O’Mara, Inc.
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Registration Application o June 7-8, 2012 – San Francisco, CA
Hyatt at Fisherman’s Wharf 555 North Point Street • San Francisco, CA 94133 Room Rate: $179 single/double • Hotel Cut-off Date: 5/16/12 Phone: 415-563-1234
o June 14-15, 2012 – Atlanta, GA
Sheraton Atlanta Hotel 165 Courland Street • Atlanta, GA 30303 Room Rate: $119 single/double • Hotel Cut-off Date: 5/23/12 Phone: 404-659-6500
o July 19-20, 2012 – Boston, MA
Omni Parker House 60 School Street • Boston, MA 02108 Room Rate: $180 single/double • Hotel Cut-off Date: 6/25/12 Phone: 617-227-8600
Name Title Firm Name Firm Type Firm Size Address City State/Province Zip/Postal Code Country Phone Fax E-mail
o July 26-27, 2012 – Denver, CO
Denver Marriott City Center 1701 California Street • Denver, CO 80202 Room Rate: $199 single/double • Hotel Cut-off Date: 7/6/12 Phone: 303-297-1300
o August 2-3, 2012 – Chicago, IL
Brochure Code: 270481
Team Discount Discounts for 3 or more attendees from the same firm attending the same program are available. Cannot be combined with early bird discount.
Hyatt Regency Chicago 151 East Wacker Drive • Chicago, IL 60601 Room Rate: $199 single/double • Hotel Cut-off Date: 7/11/12 Phone: 312-565-1234
Registration Fees: (Check all that apply)
o August 16-17, 2012 – Seattle, WA
Select Your Payment:ption
Seattle Airport Marriott 3201 South 176th Street • Seattle, WA 98188 Room Rate: $199 single/double • Hotel Cut-off Date: 7/27/12 Phone: 206-241-2000
o Early Bird Attendee Fee: $1195 (must be paid 30 days prior to event) o Regular Attendee Fee: $1395
o Check enclosed for $__________________ payable to PSMJ Resources, Inc. o Please bill me/my firm. Invoices must be paid 30 days prior to the seminar date to qualify for the Early Bird Registration price. o Charge my:
Travel & Accomodations A block of rooms is reserved for PSMJ attendees at each location. To secure reduced rates, please make hotel reservations by the cut-off dates above and be sure to mention that you are attending PSMJ’s A/E/C Successful Financial Management Seminar. If you have any problems or questions regarding reservations, please contact the Education Department at (617) 965-0055.
Refunds and Cancellations Cancellations received in writing at least 45 days prior to the Seminar receive full refunds. Cancellations received in writing between 44-11 business days prior to the program receive a credit letter, good for six months, towards any PSMJ education program. Cancellations made 10 or fewer days prior to the Seminar and/or no–shows are not eligible for refunds or credits, however, you may substitute attendees at anytime.
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PSMJ Resources, Inc. 10 Midland Avenue • Newton, MA 02458
[email protected] www.psmj.com/training-and-education (617) 965-0055
10 Midland Avenue, Newton, MA 02458 A / E / C
Successful Financial Management
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S E M I NA R
Sponsored by:
“I got more out of this seminar that I expected.” — Daniel E. McCann, CFO, Greeley and Hansen
Friend and Follow PSMJ on: http://psmj.blogspot.com
PSMJ’s Seminar earns you up to 12 AIA LUs and/or 12 PDHs (except in New York). PSMJ is a registered provider with the Florida Board of Engineers, provider #PE 0003546 and with the Florida Board of Landscape Architecture, provider #PVD37, course #0007905 (12 credit hours). PSMJ Resources, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN 37219-2417. Website: www.nasba.org.
Receive PSMJ’s Successful Financial Management Seminar Tool Box CD
All registrants receive, with our compliments, PSMJ’s Successful Financial Management Digital Tool Box CD, a $695 value, as part of your registration. Packed with checklists, tools, sample agreements, and guides you can implement and share upon your return to the office. This CD helps move ahead efficiently, with materials, tips, and documents you can actually use to make your Financial Management Plan come to life! “Great Seminar! Gave me a kick in the pants to step up accounting practices.” — Macon McDonald, President, West Company of Midland, Inc.
Get our exclusive 12-page guide 150 Ways To Cut Overhead - FREE! Being an A/E/C firm owner in this economy, you need to minimize overhead as much as possible to ensure a profit that will keep you going throughout 2012. There are always ways to keep cutting corners, and in this financial environment it’s never a bad idea to keep a strict eye on administrative costs. Luckily, PSMJ can offer you this FREE guide designed to help you streamline your overhead expenses and keep your operations running smoothly. You can implement many of these tips immediately, and start saving money tomorrow! Don’t miss… This concise guide is a great companion to the Successful Financial Management Seminar as it will give you a great jumping-off point for the discussions your will enjoy at the event. Hurry and request your free guide today…this offer is only available for a limited time only!
