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Practice Management
Practice Management
Practice Management
Practice Management
Practice Management
Practice Management
Practice Management
Practice Management
Practice Management
Practice Management
Practice Management
Practice Management
Practice Management
Practice Management
Practice Management
Practice Management
Practice Management
Practice Management
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Practice Management

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Maximise Productivity & Profitability : Attract & Retain - The Best Professionals

Maximise Productivity & Profitability : Attract & Retain - The Best Professionals

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  • 1. Practice Management Maximise Productivity Attract & Retain - The Best Anand Subramaniam
  • 2. “The first responsibility of a leader is to define reality. The last is to say thank you. In between, the leader is a servant.” - Max DePree 2
  • 3. Highlights  Revenue / Profit Maximisation Strategies  Cost Minimisation Strategies  Improvement Initiatives  Finance & Operations  Human Capital Management  Service Delivery  Client Experience Management 3
  • 4. Firm’s - Overview  Firm’s Annual Revenue  Total # of Employees by Category (Finance, HR, Practice)  Practice Revenue as a % age of Firm’s Annual Revenue  Total Firm’s Overhead Charges (IT, Facilities, HR)  Practice Overhead as a % age of Firm’s Annual Overhead 4
  • 5. Practice Management - Overview  Annual Practice Revenue  Total # of Practice Employees  Year-over-year change in Practice Revenue  Year-over-year change in Practice Employee Headcount  Practice Employee Categories (Consultants, Project Managers) 5
  • 6. Practice Management - Revenue  Average Billable Hourly Rate  Percent of Practice Employees Billable / Chargeable  % age of Practice Revenue delivered by Third-Parties (Sub-contractors) 6
  • 7. Practice Management - Overhead  Spend / Overhead Categories  Practice Overhead (IT, Facilities, Admin) as a % of Annual Practice Revenue 7
  • 8. Practice Management – (Non) Billable Hours  Administration  Education / Training Days  Public Holidays  Annual Billable Hours  Staff Annual Leave (Budget vs. Actual)  Research &  Annual Non Billable Hours (Budget vs. Development Actual) 8
  • 9. Practice Management - Integrated Solutions  Business Intelligence Solution (BI)  Human Capital Management (HCM)  Professional Services Automation (PSA)  Enterprise Resource Management (ERP)  Customer Relationship Management (CRM)  Enterprise Performance Management (EPA) 9
  • 10. Practice Management - Goals / Strategy  Vision, Mission, “SMART” Objectives  Priorities by Quarter  Minimise – Costs, Overheads  Team – Training, Knowledge Management  Performance Measurements – Budget vs. Actual, KPIs  Maximise – Service Revenue, Margins, Utilisation, Client / Staff Satisfaction 10
  • 11. Practice Management - Initiatives  Staff Training  Knowledge Management  Staff Training / Certification  Quality Standards / Assurance  Investments (IT, Professional Books / Magazines)  Practice Delivery “Methodology / Frameworks / Tools” 11
  • 12. Practice Management – Finance / Ops  Bid / Win Ratio  Average Annual Revenue per Billable Staff  Average Staff Burden Rate  Project Margin for Time & Materials  Projects Days Sales Outstanding (DSO)  Average Quarterly Non-Billable  Annual Net Contribution Margin Expense per Staff  % age Billable Work Written-off  % age Invoices Redone (Error, Client Rejections)  Project Margin for Fixed Price Projects  Quarterly Average Forecast Revenue  Average Gross & Net Margin on & Cost Variance Projects  % age Quarterly Revenue Target  Average Sub-contractor Margin Backlog (Increase / Decrease)  % age of Compensation (Fixed &  % age of Discounting (Rates, Revenue Variable) Leakage, FREE Consulting) 12
  • 13. Authority – Pricing & Discounting  Sales  Finance  Service Head  Practice Staff – Senior  Practice Staff – Junior 13
  • 14. Practice Management – Human Capital  Mentor / Mentee Program  Incentive Program (Referrals)  Annual Training Budget per  Succession / Career Planning Staff  Standard Job Descriptions for  # days from Advertising to all Staff Hire  Staff Competency / Capability  Periodic Staff Satisfaction Skill Profile Survey  Regular Performance Reviews  Practice Staff annual attrition linked to Industry Benchmarks rate  # of Guaranteed Annual  Practice Management to Staff Training Days per Staff Ratio 14
  • 15. Practice Management – Service Delivery  % age Cancelled Projects  % age of Projects – Delivered on Time & Budget  % age on Time & Materials  Delivery Model / Methodology /  Framework utilised % age on Fixed Time / Fixed Fee  % age Project Revenue spent for  % age on Shared Risk / Performance Quality Assurance  % age Work done On-Site vs. Off-Site  Duration (Days) for an “average” Project Completion  % age Annual Staff Utlisation (Average)  Standardised Estimating Processes (Over / Under Budget)  % age Billed for Project Management Time  Frequency (Days) and % age of Project Overruns (Average)  # of Staff on Project Engagement (Average)  # of Projects Managed on an average by Project Manager at one time 15
  • 16. Practice Management – Client Experience  % age Clients "Referenceable“  Incentive Program for Staff Leads & Referrals  % age Client Satisfied and Rating  # of Days - From Suspect to Signing  Contract % age Clients Surveyed Periodically  Solutions Collateral / Service  Service Sold by Sales or Practice Marketing Utilised Manager  Sales & Marketing Cost as a % age  Application utilized for Proposal Practice Revenue Generation   % age / $$ obtained from Cross / Up "Top Client" Premium Program & Selling Annually Incentives  % age variance - Deal Pipeline to  Pre-Sales Cost as a % age Practice Quarterly Bookings Forecast Revenue  # of Days Product Training given by Practice Staff to Sales Force 16
  • 17. “Where there is no vision, the people perish.” - Proverbs 29: 18 17
  • 18. Good Luck http://www.linkedin.com/in/anandsubramaniam 18

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