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FF management briefings
 

FF management briefings

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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