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What Is Closed-Loop Estimating?
Manage episode 355494854 series 2879314
Content provided by Solutions360. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Solutions360 or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.
On this episode of ClearTalk, Brad Malone, VP of Professional Services at Solutions360, joins CEO, Brad Dempsey, to discuss closed-loop estimating.
In simple terms, closed-loop estimating is the feedback loop from lessons learned from each project so they can be incorporated in future estimates, setting them up to be more accurate and profitable.
There are always similarities along with uniqueness across all projects, and there are lessons to be learned from both aspects. “When we have similarities, we can fine tune our estimates, and when we have uniqueness or risk, we can figure out how much contingency we’ll need,” Malone explains. “It's really a learning process.”
All of this relates to LEAN principles and six sigma, which Navigate encourages integrators to adopt.
“The way I look at Lean is about getting rid of waste, and drama, and really streamlining processes,” says Malone. I always use the metaphor of Michelangelo and David. How did Michelangelo carve David? Well, he just took away everything that wasn't David.”
Conversely, 6 Sigma is about variation - the more similar your projects are, the more you can look at reducing the variation.
By embracing these concepts, Navigate finds integrators can save 20% to 30% of their labor on a project.
Also on the podcast:
- What are the prerequisites for implementing closed-loop estimating.
- Why you should not wait until the end of a project to go back and look at the original estimate.
- How to develop the process to estimate the way you actually run a project.
49 episodes
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Manage episode 355494854 series 2879314
Content provided by Solutions360. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Solutions360 or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.
On this episode of ClearTalk, Brad Malone, VP of Professional Services at Solutions360, joins CEO, Brad Dempsey, to discuss closed-loop estimating.
In simple terms, closed-loop estimating is the feedback loop from lessons learned from each project so they can be incorporated in future estimates, setting them up to be more accurate and profitable.
There are always similarities along with uniqueness across all projects, and there are lessons to be learned from both aspects. “When we have similarities, we can fine tune our estimates, and when we have uniqueness or risk, we can figure out how much contingency we’ll need,” Malone explains. “It's really a learning process.”
All of this relates to LEAN principles and six sigma, which Navigate encourages integrators to adopt.
“The way I look at Lean is about getting rid of waste, and drama, and really streamlining processes,” says Malone. I always use the metaphor of Michelangelo and David. How did Michelangelo carve David? Well, he just took away everything that wasn't David.”
Conversely, 6 Sigma is about variation - the more similar your projects are, the more you can look at reducing the variation.
By embracing these concepts, Navigate finds integrators can save 20% to 30% of their labor on a project.
Also on the podcast:
- What are the prerequisites for implementing closed-loop estimating.
- Why you should not wait until the end of a project to go back and look at the original estimate.
- How to develop the process to estimate the way you actually run a project.
49 episodes
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1 Transforming Fire Safety: The Power of the Inspect Point & Q360 Partnership 17:52
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Play Later Play Later Lists Like LikedIn this special episode of ClearTalk, Brad Dempsey, CEO of Solutions360, is joined by Padraic Doyle, CEO & co-founder of Inspect Point, to dive into the groundbreaking integration between Inspect Point and Q360. Launched last week, this partnership is set to transform the fire and life safety inspection process by combining Q360’s ERP system with Inspect Point’s robust inspection platform. Padraic discusses the vision behind the integration, the challenges faced by the fire protection industry, and how this collaboration streamlines operations, enhances compliance, and improves customer satisfaction. Additionally, they touch on the future of AI in the industry and what’s on the horizon for Inspect Point and Q360. This episode is a must-listen for anyone interested in how technology can revolutionize fire safety and improve operational efficiency. To learn more about how Solutions360 can help you run your business more effectively, click this link to connect with us: https://www.solutions360.com/our-mission-is-to-become-our-customers-most-valued-business-partner/…
1 Mastering Post-Implementation: Navigating Success and Adaptation with Q360 37:25
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Play Later Play Later Lists Like LikedIn this episode of ClearTalk, Tim Archambault and Mark Demler discuss the critical post-implementation phase for ERP systems, specifically focusing on customer success with Q360 by Solutions360. The conversation highlights the importance of a well-prepared go-live, with Mark emphasizing the necessity of a rigorous checklist that ensures all preparations, from database cleanup to staff training, are completed thoroughly. Mark shares that the structured approach provided by Solutions360, including detailed checklists and ongoing support from business analysts, was integral in smoothing the transition and minimizing surprises. They also delve into the day-to-day management post-go-live, where the real-time adjustments and proactive project management play a pivotal role in addressing unexpected challenges that arise during initial usage. The discussion covers how the ERP system facilitates better business practices through detailed metrics and forecasting, allowing businesses to make more informed decisions and adapt to their operational needs more dynamically. Mark notes the significant impact of having reliable data on improving business operations and strategic planning. The episode wraps up with Mark and Tim reflecting on the benefits of having a flexible, well-supported ERP implementation process that not only addresses immediate business needs but also fosters long-term growth and efficiency. If you have any questions for Mark, please reach out to him at markdemler@prodigy.net To learn more about how Solutions360 can help you run your business more effectively, click this link to connect with us: https://www.solutions360.com/our-mission-is-to-become-our-customers-most-valued-business-partner/…
1 Navigating ERP Implementation: A Roadmap to Success 39:17
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Play Later Play Later Lists Like LikedIn this episode of ClearTalk, Tim Archambault discusses the post-sales ERP system implementation with Mark Demler from Electronic Innovations. Mark outlines the importance of thorough preparation and strategic data management. He highlights the necessity of involving Subject Matter Experts (SMEs) early to ensure smooth adoption and stresses the significant role of proper training environments to facilitate effective learning. Mark praises Solutions360 for their flexibility in handling customizations and their proactive support, which greatly enhanced the implementation process. The conversation encapsulates the challenges and successes of deploying a major ERP system, reflecting on the strong partnership and ongoing support that have defined their journey with Solutions360. If you have any questions for Mark, please reach out to him at markdemler@prodigy.net To learn more about how Solutions360 can help you run your business more effectively, click this link to connect with us: https://www.solutions360.com/our-mission-is-to-become-our-customers-most-valued-business-partner/…
1 Scaling Success: Navigating ERP Implementation for Business Growth 35:18
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Play Later Play Later Lists Like LikedIn this episode of ClearTalk, Tim Archambault and guest Mark Demler dive into the critical role of ERP systems in scaling businesses effectively. Mark shares his journey of helping a company implement an ERP system that aligns with its growth and generational transition goals. They discuss the initial challenges of multiple disjointed systems and the strategic move to a more integrated ERP solution to streamline operations and support expansion. Key insights include the importance of having a clear vision for the company's future and how this vision should guide the selection of technological tools. Mark emphasizes the need for systems that can handle diverse business activities without requiring constant manual input, which was a significant bottleneck in their operations. The conversation also covers practical steps in selecting and implementing ERP systems, such as engaging subject matter experts from various departments, understanding specific business needs, and ensuring the ERP can scale with the company. Mark points out the necessity of having a system that not only fits current needs but also supports future growth without extensive customization. This episode is packed with valuable advice for businesses looking to leverage ERP systems to enhance efficiency and scalability, making it a must-listen for business leaders and IT professionals aiming to maximize their technology investments for long-term success. If you have any questions for Mark, please reach out to him at markdemler@prodigy.net To learn more about how Solutions360 can help you run your business more effectively, click this link to connect with us: https://www.solutions360.com/our-mission-is-to-become-our-customers-most-valued-business-partner/…
1 Scaling Beyond the 20 Million Dollar Ceiling Strategic Leadership in Business Expansion 10:08
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Play Later Play Later Lists Like LikedIn this episode of ClearTalk, Brad Malone and Joel Harris delve into the crucial stages of business growth, discussing the challenges and transitions that businesses face as they scale from $6 million to higher revenue thresholds. They focus on the shift away from operational firefighting towards strategic growth, exploring how business owners can add value and feel essential without being entangled in day-to-day problems. They emphasize the importance of clearly defined roles and responsibilities, advocating for written agreements to ensure team accountability. This discussion highlights the necessity for owners to delegate effectively and set clear expectations to facilitate smooth transitions in management roles. By moving from being operators to owners, they can focus on strategic decisions and long-term business health, ensuring that their involvement evolves from direct management to oversight and strategic guidance. This strategic shift requires a well-thought-out plan, focusing on investing in people and structuring management to support growth. The conversation also touches on the common pitfalls that stifle growth, such as inadequate capital management and a lack of strategic planning, which can prevent businesses from breaking through revenue plateaus.…
1 Capital Discipline - Fueling Sustainable Business Growth 6:20
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Play Later Play Later Lists Like LikedIn this episode of ClearTalk, Joel Harris and Brad Malone dive into the challenges businesses face as they scale, specifically focusing on the critical issue of capital as a barrier to growth. They discuss the distinction between real and perceived barriers to accessing capital, emphasizing that growth is often constrained not just by the availability of funds but by how effectively these funds are utilized. Joel argues that many businesses hinder their growth by not reinvesting profits back into the company, which is crucial for scaling operations, particularly in staffing and management structures. He points out that growth requires strategic planning and investment, particularly in people, which many business owners overlook. Brad and Joel explore the concept of "the discipline of earnings," stressing the importance of generating returns from every dollar spent and avoiding the trap of merely spending without a strategic return on investment. They conclude that for a business to scale successfully, it must adopt a disciplined approach to capital investment, focusing on generating and reinvesting earnings to foster sustainable growth. To learn more about how Solutions360 can help you run your business more effectively, click this link to connect with us: https://www.solutions360.com/our-mission-is-to-become-our-customers-most-valued-business-partner/…
1 Breaking Barriers: Strategies for Sustainable Business Growth 7:59
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Play Later Play Later Lists Like LikedIn this episode of ClearTalk, Brad Malone, Chief Operations Officer, and Joel Harris, President of Solutions360, discusses common growth barriers that companies face, such as stagnation at certain revenue milestones. The conversation highlights how company founders often hinder scalability by holding onto key roles, limiting their company's ability to grow beyond typical revenue thresholds like $10 million or $20 million. The discussion emphasizes the need for strategic delegation and building a unified management team that tackles business challenges collectively rather than in silos. An important takeaway is the litmus test for business sustainability: if a company can't operate effectively without its owner for a few months, it likely lacks the structures needed for sustainable growth. This episode offers strategies to overcome these growth barriers and promote long-term success.…
Continuing from their discussion on time billing, Bradford Dempsey and Joel Harris address remote work in the second part of this series. They explore how the pandemic accelerated the shift to remote work, a transition that many companies, including Solutions360, had to navigate swiftly. The conversation focuses on how remote work necessitates a robust framework for planning and forecasting to maintain productivity and profitability without the traditional oversight of in-office work. They discuss the importance of precise time billing in remote settings to ensure accurate project costing, profitability analysis, and labor management. This episode emphasizes that effective remote work management involves more than just technology; it requires strategic planning and a cultural shift towards trust and accountability in workforce management.…
In this first part of a two-part series on "Clear Talk," host Bradford Dempsey and guest Joel Harris dive into the contentious issue of time billing within business operations. They discuss common misconceptions and emphasize that time billing is not about mistrust but about gathering essential data for informed decision-making. Joel Harris shares his initial resistance to time tracking in his early career and how he later understood its importance for managing corporate resources and making strategic decisions. The discussion highlights that time billing enables companies to optimize resource allocation and make informed decisions that can benefit employees, rather than micromanage them. This session aims to shift the perspective on time billing from oversight to a valuable tool for enhancing company operations and employee engagement.…
1 Mastering the Ebbs & Flows of the Integration Industry 11:02
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Play Later Play Later Lists Like LikedIn this episode of the ClearTalk Podcast, Brad Malone and Andrew Ashbury explore the critical dynamics of labor management in the integration industry. They discuss the importance of proactive planning—knowing when to "throttle up" or "throttle down" before it becomes a necessity. Brad emphasizes the need for mature systems that allow for transparent communication between sales and operations, ensuring alignment and readiness for shifts in labor demand. Andrew highlights common pitfalls, such as inadequate data systems and a siloed approach that prevent effective decision-making. Together, they underscore the strategic importance of integrating ERP systems and other tools to foster a mature collaboration that anticipates and adjusts to business needs efficiently. This conversation is a deep dive into how strategic labor management and proactive planning can smooth out the operational ebbs and flows in the integration industry, ensuring businesses are always prepared and responsive.…
1 Mastering Disaster Recovery and Business Continuity 8:55
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Play Later Play Later Lists Like LikedIn this episode of ClearTalk, Roman Burchart, VP of Operations at Solutions360, hosts John Lyall, Customer Success Manager, to delve into the critical topics of disaster recovery and business continuity. They explore how companies often overlook these areas until an emergency strikes, emphasizing the importance of being prepared for any disruptive event that could affect business operations. Roman and John discuss the differences between disaster recovery, which traditionally focuses on restoring IT functions like data recovery from hardware failures, and the broader scope of business continuity, which aims to maintain operational integrity no matter the external pressures, from cyberattacks to natural disasters. Throughout the discussion, they share insights on how businesses can create resilient plans that ensure effective communication and operational functionality during crises. This involves not just IT teams, but training staff across all departments to understand and execute the company's contingency strategies effectively. The conversation highlights the need for regular updates, testing of disaster recovery and business continuity plans, and a proactive approach to managing potential threats to maintain trust and reliability among customers and stakeholders. To learn more about how Solutions360 can help you run your business more effectively, click this link to connect with us: https://www.solutions360.com/our-mission-is-to-become-our-customers-most-valued-business-partner/…
1 Fortifying Cybersecurity - Strategies and Challenges in the AI Era 14:31
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Play Later Play Later Lists Like LikedIn this episode of the ClearTalk Podcast, Mack Graham engages with Tofiq Indawala, Director of Consulting for Solutions360, in a deep dive into cybersecurity, a critical issue for modern businesses. They discuss the common cyber threats like phishing, ransomware, and IoT vulnerabilities, particularly focusing on the challenges faced by integrators who are increasingly adding internet-connected devices to their networks. Tofiq underscores the importance of employee education on recognizing and handling potential cyber threats as a crucial line of defense. He details the concept of "security by design" within the development and implementation of ERP solutions, emphasizing the necessity of integrating security at every level of system design and operation—from user permissions and data storage to secure data transfer and robust backup strategies. The conversation also explores the impact of AI and machine learning on cybersecurity, highlighting both the new challenges and opportunities these technologies present. They discuss how AI can enhance threat detection and response within organizations but also how it can be used maliciously to automate attacks. Overall, the episode covers essential strategies for securing remote access, fostering a cybersecurity-aware culture among employees, and the ongoing importance of adapting to the evolving landscape of threats, especially in the context of increasing AI capabilities.…
1 AI Unveiled - Navigating the Future of Business Intelligence 13:02
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Play Later Play Later Lists Like LikedIn this episode of ClearTalk, Brad Dempsey welcomes Roman Burchart, VP of Operations at Solutions, to demystify the buzz around Artificial Intelligence (AI). They start by breaking down AI's capabilities, from enhancing reasoning and creativity with generative models like ChatGPT to the practical applications in business processes. The conversation transitions into the fascinating realm of Artificial General Intelligence (AGI) and its implications for the future. Highlighting Solutions' latest foray into AI with their new business intelligence features, they discuss leveraging Microsoft Azure and OpenAI to create customizable chatbots. This integration aims to streamline operations and secure data within a trusted ecosystem. They explore the concept of "multi-model" AI, emphasizing the tailored use of AI tools for specific business needs, likened to choosing the right tool for a physical task. This episode promises a thought-provoking look at AI's current state, its tangible benefits for businesses, and speculative future advancements. To learn more about how Solutions360 can help you run your business more effectively, click this link to connect with us: https://www.solutions360.com/our-mission-is-to-become-our-customers-most-valued-business-partner/…
1 From Fragmentation to Integration - Revolutionizing Operations with ERP 9:26
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Play Later Play Later Lists Like LikedIn this insightful episode of ClearTalk, John Graham is joined by Tim Archambault, a senior sales executive at Solutions360, to explore the pervasive challenges that systems integration companies face today. They dive into the critical issue of data fragmentation across multiple systems, which hampers companies' ability to make informed decisions and streamline their operations. Tim discusses the common reliance on inefficient data management practices, such as the use of spreadsheets, and presents three solutions: maintaining the status quo, leveraging business intelligence tools, or implementing a comprehensive ERP system. Solutions360's approach to unifying business processes under one system emerges as a game-changer, offering real-world examples of companies that have seen transformative results. The conversation highlights the journey from initial skepticism to the realization of significant operational benefits, emphasizing Solutions360's commitment to customer success beyond the sale. This episode is a must-listen for anyone interested in overcoming the complexities of systems integration and driving their business forward with innovative solutions. To learn more about how Solutions360 can help you run your business more effectively, click this link to connect with us: https://www.solutions360.com/our-mission-is-to-become-our-customers-most-valued-business-partner/…
1 Cultivating Success: Navigating the Journey of Q360 Adoption 12:21
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Play Later Play Later Lists Like LikedIn this engaging episode of ClearTalk , join hosts John Lyall and Andrew Ashbury as they delve into the exciting world of Q360 adoption, a transformative initiative aimed at enhancing customer engagement and maximizing business system efficiency. Through a detailed discussion, Andrew likens the process to a comprehensive, unbiased evaluation, akin to a multi-point car inspection, providing objective insights into system usage. The episode highlights the collaborative nature of this engagement, showing how it fosters a deeper understanding between clients and the business, and turns raw data into actionable strategies. Listeners will gain insights into how periodic assessments can lead to significant improvements, the evolution of customer service strategies, and the critical human element in technology adoption. This episode is a must-listen for anyone interested in understanding and improving their engagement with business systems, ensuring continuous growth and efficiency.…
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