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Work In Process: A Deep Dive and Advanced Perspective of WIP - Part 1 
Date/Time:
October 19, 2015   3:00pm - 5:00pm
 
Format:
       
  Synced Audio / Video / Slides
 
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This four-hour intensive course will provide an advanced view of the work in process schedule. Your WIP is more than a reporting tool; it is a financial management tool for your construction company. From this workshop, you will gain strategies to turn unexpected profit fade and enhancements into predictable events.

After completing this course, you will be able to:
  • Explain how your Work in Process schedule (WIP) is more than just a reporting tool
  • Discuss how different contract types are managed on your WIP
  • Show how to account for self-performed work on your WIP without double counting
  • Discuss change orders/additional purchase orders and how they impact gross profit and revenue expectations
  • Describe the role of the formal cost review process in the outcome of the WIP
  • Discuss WIP analysis techniques, tips and tricks
  • Identify the impact of profit fade and fee enhancements
  • Apply WIP best
 


 
 

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