10/17/2024

Managing Work in Progress (formerly, “Cracking the ‘WIP’ – Driving Predictable Cost Projections”) - 10/17/24

The program was held at the IBEW-NECA Technical Institute (INTECH) in Alsip, IL.

Managing Work in Progress
(formerly, "Cracking the ‘WIP’ – Driving Predictable Cost Projections”)
Thursday, October 17, 2024
INTECH – Alsip, IL

The ECA Research and Education Committee was proud to sponsor the seminar, Managing Work in Progress (formerly, "Cracking the WIP - Driving Predictable Cost Predictions").  The morning program was held on Thursday, October 17, 2024 at the IBEW-NECA Technical Institute (INTECH) in Alsip, IL.   The session was facilitated by David Morton, Maxim Consulting Group.

Program Description 

Many project managers lack a clear handle on how their projects are performing financially. Most commonly it is because they have not been trained on how to forecast properly. We find many contractors struggle with how to build a robust cost projection process that provides for consistency and predictability. Profit fade at 90% complete is no longer an option in today’s market. Teach project manager how to properly set up job budgets, track progress and forecast accurately. Moreover, learn critical financial indicators that point to problems on projects early so they can be rectified.

Following this course, participants will be able to:

• Identify how to manage work-in-process for better profitability
• Explain the relationship between project profitability and processes (budgeting, forecasting, change control, job status reporting and WIP)
• Describe how to apply earned value reporting to projects
• Learn key performance indicators that point to critical project performance problems

We thank Dave for his time and expertise with the program!

Pictured above is David Morton, Maxim Consulting Group.

Pictured above is David Morton, Maxim Consulting Group, 
as he began his presentation.

Pictured above are the attendees for the session.