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AICPA Construction and Real Estate Conference 2020


COR2004 - WIP Deep Dive: Analytics & Communication from the Inside Out


Dec 7, 2020 2:00pm ‐ Dec 7, 2020 3:15pm

Description

Have you ever thought of using analytics based upon your Work in Process Schedule to provide insights to your company? Have you ever used them to make strategic job-related decisions in your business? Both are critical to the success of every contractor. In this interactive session we will analyze WIP schedules and job results based upon the world and characters of some classic sitcom series, including the greatest show ever about nothing. The session will review different methods and criteria to sort and analyze your WIP and will engage attendees to share their insights. In addition, we will discuss best practices to communicate observations to your inside team as well as outside users of your financial statements in an effective manner.

Learning Objectives:
  • 1. Develop effective metrics and sorting of projects to analyze Work in Process Schedules and job results. Identify trends across projects based upon metrics such as region, job type, project size, customer, etc.
  • 2. Determine effective methods and strategies to communicate findings to management and project teams.
  • 3. Understand how your surety and external partners analyze and evaluate your WIP Schedule and trends.
  • 4. Identify effective sources, techniques and methods to compile the work-in-process schedule.

Speaker(s):

Category: Concurrent Session (Online)

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