[Saice] Business Finance for Built-Environment Professionals Course

Wed Apr 28 09:16:48 SAST 2010

Please Note: This email was sent on behalf of the SAICE Education and Training Department. For more information on the matter, please contact Dawn Hermanus on dhermanus at saice.org.za

Business Finances for Built-Environment Professionals

Next course: Cape Town, 13/14 May 2010

Course Verification Number SAICEfin08/00405/11   Valid until December 2011

Presenter: Wolf Weidemann PrEng

(This course is regarded as a Core Course, i.e. essential for the Practitioner. It is tailored specifically for the needs of Design Consultants and developed and presented by a Consulting Engineer. It attracts 2 CPD credits.

Almost 800 delegates have been trained to date. All stated in writing that they would recommend the course to others.)

It qualifies for partial re-imbursement of costs from the Skills Development Fund.

"If you think education expensive, try ignorance." Derek Bok, Harvard University President Emeritus

CONTENT (Main Body)

·         Goal of a business (Focusing the mind)

·         How to set up a business (Basis for Balance Sheet)

·         Sources of Money and their Rewards

·         Uses of Money (Also how we are owed money; uses of profit)

·         Recording Transactions (TO, COS, GP, FC, NP) (Calculating profit)

·         Return on Investment (Correct units)

·         Balance Sheet (Where the money came from; where it is now)

·         Working Capital (Control of; Current and Quick ratios)

·         Simple business model (Circulation, Profit & R.o.I.)

·         WiP, Time Sheets, Debtors, Control of Debtors, Mora

·         Organigram: Allocation of salaries to COS and FC

·         Income Statement

·         Costing Models, Multiplier Approach, Utilisation

·         Discounting (Disastrous effects of; Tables)

·         FIDIC Project Averages (Where the money goes)

·         DuPont Chart System of Control

·         Horizons

·         Flow of Work through Practice (Monthly analysis)

CONTENT (Additional Concepts)

·         Cost, Price, Value

·         Working at Risk 

·         Productivity models

·         Calculation of EVA (Economic Value Added) threshold

·         Branch Contribution and Corporate Office allocations

·         The importance of Utilisation

·         Explanation of the terms Future Value, Present Value, Discount Factor

·         Overview of tools for Investment Appraisal (Payback Period, Net Present Value and Internal Rate of Return)

·         Advanced concepts such as Fair Market Value of a Practice and Internal Transfer of Ownership can be discussed according to the interest of participants 

·         The Balanced Score Card

NOTE: The main concepts are supported and reinforced by exercises to achieve "conscious competence" of the course participants. Upon completion, the Work Book serves as a valuable summary and reference source.                                                                                                                                                ... /2

WHAT PARTICIPANTS WILL ACHIEVE

·         Generally understand Accounting Terms and business "mechanisms";  

·         Understand the Why and How of own financial involvement;

·         Understand, draw up and read the Balance Sheet & Income Statement;

·         Understand the difference between Mark-up and Profit margins, 
also the correct units for Investment and Return on Investment;

·         Calculate Profit and Margin, Return on Investment and Circulation of Capital;

·         Understand how general business principles are applied in a Practice;

·         Implement DuPont Chart of Control;

·         Understand and perform Ratio Analysis;

·         Set performance standards for the successful management of the firm; 

·         Assess health of the firm;

·         Understand the full consequences and disastrous effects of Discounting;

·         Communicate to Client the leveraged impact of fees on project success;

·         Understand the importance of Utilisation of Technical Staff;

·         Calculate Economic Value Added (EVA) Threshold;

·         Understand the concept of Productivity;

·         Understand Financial Decisions based on Payback, Net Present Value, Internal Rate of Return;

·         Appreciate the firm's Financial People, can communicate with them and tell them what is required.

COURSE STYLE

The Business Finances course is designed for the practitioner in private practice, the partners of practices and the senior members of the larger professional firms, although all people in a business will benefit commensurate to their work responsibilities. It is written and presented in everyday, easy-to-understand language. An Appendix highlights application of the principles to Built-Environment Professional's practices.

The course is run as a 2 day "workshop" and no more than 18 delegates are accepted. 

This ensures adequate time for in-depth discussion and gives every delegate opportunities to ask directly relevant questions and to get practical answers. The content of the programme is presented in a simple and logical manner. Many useful measurements and control mechanisms are discussed.

It is not intended that delegates should try to replace their financial managers or accountants, but rather to get a better understanding of the financial aspects of their business, and to comprehend the full implications of their actions and decisions, such that delegates can communicate better with their financial colleagues through a heightened understanding of financial concepts and vocabulary. The professional's financial knowledge will also enable him to deal more confidently with clients and developers, other professionals and contractors, and to better withstand the pressures for discounting.

RÉSUMÉ: WOLF WEIDEMANN PrEng

-       Studied electronic, instrumentation and nuclear engineering at Stellenbosch and MIT.

-       CSIR, Nuclear Physics Laboratory: 1st South African cyclotron (16MeV particle accelerator). 

-       Director: Instrumentation, Atomic Energy Board, Pelindaba.

-       Barlow Rand: Technology Transfer for Fuchs Electronics from University Pretoria.

-       Director: Electronics & Instrumentation, GH Marais & Partners Inc. for 13 years.

-       Developed course 'Handling Projects in a Consulting Engineer's Practice' for SAACE (now CESA).
(Strong emphasis on process, also communication and interpersonal skills.)

-       Presents this & the 'Business Finances' course countrywide. ( >1 700 trained from 1995 to date.)

-       Both seminars, continually updated, are aimed specifically at the Built-Environment Professionals.
(One of the biggest challenges here is combining quality of individual professional service with overall cohesion as a business.)

-       Developed and presents 'Finances' and 'Risk Management' courses for the Facility Management consultancy FMSA, at diploma and degree level, both in South Africa and abroad.

GENERAL

-       National Chairman for 3 years of EASA (Engineers Association of South Africa)

-       Served on SACPE and its successor Engineering Council of SA for 20 years

-       Served on SAACE committees from 1982 until 2005. Targeted Procurement Trainer

-       Accredited SAACE Peer Reviewer. Also trains Peer Reviewers

Enquiries:  Ms Dawn Hermanus, Education & Training, SAICE. T 011-805 5947/8; E dhermanus at saice.org.za

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