Business aspects of project controlling
Parallel accounting (commercial code, IFRS, US-GAAP)
Internationally positioned machinery and plant manufacturers often need to do the accounting for their customer projects not only in accordance with the commercial code, but also in accordance with IFRS or US-GAAP. We show you how to implement IFRS15 (Realisation of revenue), for example, and how to efficiently do accounting in parallel in accordance with multiple GAAPs using the ledger method.
Financial project life cycle
When machinery and plant manufacturers talk about controlling for customer projects, they are often only thinking about the actual order phase and are forgetting that customer projects also have an offer phase and a warranty phase which can have a significant impact on the result of the project. We show you what consistent project controlling across the entire financial life cycle looks like.
Which cost types need to be considered in the preliminary costing? What level of detail is needed in the preliminary costing? How do you take risks into account in the calculation? How do you deal with changes and supplements? How is the benchmark defined against which you measure the project manager? Let us show you best practices from over 20 years of project experience!
Concurrent calculation for a customer project in mechanical and plant engineering is a complex affair that needs experienced employees. Efficient processes in concurrent calculation are even more important. We answer the following questions with you: What projects do you even need concurrent calculation for? What is the difference between a periodic and an event-controlled concurrent calculation and which should be used? What level of detail should be chosen? Do the missing costs need to be planned along the time axis? Do historic versions of the concurrent calculation need to be stored?
We define all discrepancies between the actual preliminary and final calculation for a customer project as non-conformance costs (NCCs). NCCs are unavoidable to a certain extent, but effective NCC management has a significant effect on a machinery and plant manufacturer’s level of profit. Learn what root causes of NCCs typically occur and how to reduce, report and manage NCCS from best practices.
It is still the case that not every company in mechanical and plant engineering conducts a “lessons learned” workshop upon completion of a customer project, even though this is best practice. If the workshop is conducted, it is often about everyone pushing around responsibility for problems which occurred. We show you how to optimally organise, prepare for and conduct a lessons learned workshop, how to avoid the popular “finger pointing” and how to learn from successes instead of failures.
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