Is This Your Firm?
Do your Project Managers understand that in the A/E industry, firm profit is made at the project level?
Are your proposals and contracts written to clearly define scope—limiting contract overages and future write-offs?
Are your Project Managers ensuring that project work is limited to in-scope services?
Is your work-in-progress (WIP) and accounts receivable (AR) reviewed regularly for viability?
If these questions raise concerns, Profit Maven can help. We provide the training, financial insight, and practical tools to ensure your projects drive profitability—and your firm reduces risk.
Project Financial Review & Training
In the Architecture and Engineering (A/E) industry, profit is earned at the project level. For this reason, it’s essential that Project Managers are trained not only in Architecture and Engineering, but also in project financial management. Traditionally, these skills are learned on the job—but time for this training is often limited. Bringing in an experienced financial leader to provide targeted training can quickly pay for itself.
Whether through reviewing actual projects or exploring project financial management principles, Project Managers learn applied skills in—how to develop work plans, proposals, and contracts; monitor project hours; manage billing and accounts receivable (AR); and understand how WIP, AR, and write-offs impact overall firm financial performance. Regardless of where a project is in its life cycle, there are always opportunities to improve performance, increase profit, and strengthen skills for the future.
By actively training staff in these areas, firms not only improve project profitability but also reduce overall firm risk—creating stronger, more financially resilient firms.