Annual AEC Business Planning and Budgeting Made Easy

Posted by Deltek on October 25, 2017

AEC Annual Budgeting and Planning

Plan for the New Year and Your New Budget

It’s that time of year again to start creating next year’s budget and business plan.  Budgeting and planning are important exercises for companies of all sizes. Without a proper plan and budget you run the risk of spending too much money or not spending enough to grow your business and compete effectively.

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Of course, the annual budgeting and planning process can be frustrating.  It can be a challenge to estimate expenses and future revenue growth with any degree of accuracy. This can make the process feel like a waste of time because the plan may ultimately be overtaken by unforeseen events. Does this sound familiar?

Well – this year it’s going to be different for you.  You’re going to get help from an expert!

In the webinar, “Annual AEC Business Planning and Budgeting Made Easy”, PSMJ’s Dave Burstein will show you how to forecast revenue and expenses and will walk you through six practical steps to develop a financial budget that your firm can use in the upcoming year. Dave is an expert at helping AEC firms with their annual budgeting and planning processes and will demonstrate many practical tools and techniques you can use.

Some of the topics Dave covers in this webinar are:

  • Why many annual budgets and business plans fail
  • How to use A/E benchmarking data to make sure your plans is realistic
  • How to use published A/E industry surveys to make sure your budget is realistic
  • Tools that will help make calculations easier and more accurate
  • How to use a simple budgeting template for organizing your annual plan and budget, (and how to get it for free)

Dave drills deep into the detail in this hands-on webinar, and will show you how to fine tune your results using benchmarking.  Of course, it’s impossible to predict the future with 100% accuracy - but Dave’s techniques will get you much closer in your planning this year. 

Benchmarking calculations Dave covers include:

  • How to estimate Available Hours per Year
  • How to do a Bookings Forecast
  • How to benchmark Utilization Rates, Billing Rates, Direct Labor Multiplier, the Revenue Factor, Non-Labor Overhead Costs, and Bad Debt Costs
  • How to Calculate the Revenue Factor (which has a strong correlation with Profitability).
  • How to use national salary data and the consumer price indices (CPIs) to determine the geographic adjustment for your location(s)
  • What types of adjustments you can make to your capacity budget to reach higher profit targets

Dave will wrap up the webinar with Q&A and provide access to additional resources.  Even if you can’t attend the live event, be sure to register anyway. You’ll receive access to the webinar on-demand and learn how to get a free budgeting template from PSMJ. 

Register for "Annual AEC Business Planning and Budgeting Made Easy"

About David Burstein:

David Burstein is Director of Client Services for PSMJ Resources, Inc., the nation’s largest provider of management information to the engineering/architectural professions. As part of his responsibilities, he provides consulting and training services on the subjects of strategic planning, marketing, project management, human resources, quality, finance and ownership transition.