5 Questions to Help You Evaluate Your Project/Business Management Systems for 2014
Fall is in the air. It is fourth quarter already. The year has flown by. This is a time to prepare your business for the year ahead. It is time to assess your business systems and determine if you are prepared for 2014. I urge you to take some time now to evaluate the following:
- Your Financial Systems
- Your time/expense tracking applications
- Your marketing/business development tracking
In order to evaluate if what you currently use is working appropriately or if you need to make some changes for the new year – ask yourself these questions.
- What is our average percentage of profitability on a project basis?
- What is the percent of projects that run over budget? Percent under budget?
- Am I able to assess the time spent on projects by phase? Billing Rate? Employee?
- What is our won/loss ratio for opportunities we pursued?
- How much time are we spending doing duplicate entries between various systems?
Are you able to answer these questions? Are you taking a semi-educated guess at it? Do you definitely know the answer to number 5 is “too many hours!”? Many small architecture/engineering firms don’t have the proper business management tools in place to even begin to know this valuable information. If you can’t answer these questions then now is a good time to prepare for 2014. If you want to have better business success next year then it is time to put proper systems in place. Be wildly successful by investing in industry specific project management software today.
I would love to talk with you about your business assessment as well, to help you be ready, – contact me at firstname.lastname@example.org to chat or check out our website to preview our architecture/engineering business/project management software.