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FF management briefings FF management briefings Presentation Transcript

  • Financial Focus & Cockpit
    1
    20110324
    Financial Focus
    Management briefings
    September/October 2011
  • Financial focus in a nutshell
    2
    20110324
    Financial Focus
  • Financial Focus
    Presentation for COWI Executive Assistants
    June 2011
    3
    20110324
    Financial Focus
    Financial Focus - getting the numbers right
  • Increase profitability and enable seamless co-operation between COWI Group companies
    by
    establishing a shared financial solution, Cockpit in the COWI group for project, business, and resource management.
  • A common finance language for projects
    5
    10/2/2011
    Financial Focus
    A common language between project and line management
    A common language between company and business units
    A common model for project economy and management
  • Development and implementation roadmap
    Financial Focus
    Strategy
    Profitability
    Transparency
    Shared solution
    Mgmt.prep.
    Mgmt.prep.
    Mgmt.prep.
    DK & Qatar
    system
    change
    SE
    system
    change
    NO
    system
    change
    Gulf
    system
    change
    Jan 2012
    Jan 2013
    Jan 2014
    6
    18 april 2011
  • Financial focus key elements
    7
    20110324
    Financial Focus
  • 8
    Project profit
    Project profit (EBIT*)
    Contract sum paid by customer
    *EBIT: Earnings before interest and tax
    Project contingency
    Other costs
    Labour costs:
    Sum of Full Cost Rates
    8 april 2011
    Financial Focus
  • 9
    Fullcost rate
    Corporate costs
    Regional/country costs
    Company costs
    OverheadRate (OHR)
    BU costs
    Dept. costs & internal hours
    Full Cost Rate (FCR)
    Costsdirectly related to employee
    Salary
    Basic SalaryRate (BSR)
    8 april 2011
    Financial Focus
  • Portfolio and project level optimisation
    10
    20110324
    Financial Focus
    Resource overview
    Project overview
    Portfoliolevel
    FCR & EBIT
    Project and resource management
    Projectlevel
  • Cockpits for sixroles
    Project manager
    Activity manager
    Portfolio manager
    Resource manager
    P&L manager
    Employee
    11
    29 aug2011
    Financial Focus
  • A integrated project manager's cockpit
    12
    29 aug 2011
    Financial Focus
    manage activities
    optimise financials
    manage resources
  • 13
    20110324
    Financial Focus
  • 14
    20110324
    Financial Focus
  • 15
    20110324
    Financial Focus
  • 16
    20110324
    Financial Focus
  • 17
    20110324
    Financial Focus
  • Resource Management
    18
    23/2/2011
    FF - RM Workshop Group
    Dialogue
    Business Process
    ResourceManager
    Project Manager
    Employee
    Input
    Output
    BrowseEmployees
    People Planner
    IT Solution
    Data
    RM Reports
    Digital ATR
    Monitor planned allocations
    ATR – Planning
  • 19
    Collaboration and profit/risk sharing
    Profit
    Profit proportional to participation as labour cost
    Profit/loss forown delivery
    FCR + fee
    0
    Fixed limitprofit share
    Subprojectprofit share
    Jointprofit share
    8 april 2011
    Financial Focus
  • Risk and contingencies
    20
    29 aug 2011
    Financial Focus
    Project EBIT
    Contingencies
    Other cost
    Labour cost based on FCR
    Better control of risk and contingencies.
    Risk Log mandatory from 2012 in Denmark.
    Continuous focus on contingencies.
    Transparency.
  • P/L (profit/loss) accounts
    The new P/L account will support two performance dimensions:
    Resource utilization
    Project profitability
    Income/turn-over is the volume generated by the employee in the department/business unit.
    21
    20110324
    Financial Focus
    Income vs. FCR
    FCR vs. actual
  • Summing up
    22
    29 aug 2011
    Financial Focus
    Focus
    • Cost management
    • Risk management
    • Resourceoptimisation
    • Collaboration
    • Pricing
    Improve
    • Earnings
    • Cash flow
    • Billability
  • Financial focus implementation
    23
    20110324
    Financial Focus
  • Time schedule for key change activities
    24
    14 sep 2011
    december
    november
    october
    september
    january
    Management briefings
    Information from BCA and project including portal communication
    Training: essentials, project management, Cockpit application, workshops etc.
    Conversion I
    Conversion II
    Business change preparation and planning
    go live
  • Conversion and go-live tasks for project managers with supervision from managers and support from Finance.
    25
    14 sep 2011
    Data conversion
    September
    January
    December
    November
    October
    Close all finalised projects.
    Yearend
    Last time registrations and posting and all possible invoices before January 5.
    Enter additional data for each project that stretches into 2012.
    Week 44-45
    Training & information before conversion process.
    Update all projects with ETC, resource planning, and WBS structure.
  • Closure
    More information from
    Business change agents
    www.cowiportal.dk/ff
    Henrik R. Mortensen, hrmn@cowi.com
    Thank you
    26
    20110324
    Financial Focus