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SMACNA-KC EDUCATIONAL EVENT AND TOP GOLF

SAVE THE DATE
March 12th, 2019
12:00 pm - 4:00 pm Educational Event, CASH FLOW & 
CHANGE ORDER MANAGEMENT 
Lunch Provided
4:00 pm - 7:00 pm Top Golf
Appetizers and Drinks Provided
MANAGING THE LIFEBLOOD OF CONTRACTING 
CASH FLOW
Cash flow is one of the most important issues facing contractors today. As the market continues to stay strong, companies are faced with starting new projects, hiring staff, and investing in assets to support the business. More companies go bankrupt due to cash flow issues than due to profitability. Many things can and should be done to improve cash management practices. We will explore a range of tools and techniques, from simple to complex, that allow firms to manage and control cash flow. Examples include contractual negotiation strategies, pricing and bidding practices, development of cost and resource-loaded schedules that tie to billing activities in the schedule of values, use of 12-week cash flow forecasts, project closeout procedures, and managing the billings and collection cycle. An interactive cash flow simulation provides hands-on experience that enhances the learning outcomes.
Learning Objectives:
• Learn the importance of cash management practices
• Increase profits with billings and collections
• Apply tools and techniques that optimize cash flow
• Maximize cash flow with process standardization
• Create transparency and accountability with measurement
CHANGE ORDER MANAGEMENT
Effective change order management can dramatically reduce a subcontractor’s risk and increase profitability. This four-hour interactive course explores the change order process from a subcontractor’s viewpoint and provides participants with hands-on training in recognizing, scoping, pricing, and negotiating change orders. This course culminates in a mock negotiation where participants can immediately practice the skills that they have learned.
Learning Objectives:
• How to properly notify owners and general contractors of changed conditions to reserve your rights
• How to scope, price and sell a change order
• Negotiation strategies to maximize outcomes

Contractor Members, Networking Committee and Board Members Welcome.

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