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Proposed Budget For the Year ending December 31, 2011. AGENDA. Review of 2010 financials & milestones Presentation of 2011 budget Highlights of new activities Potential opportunities Contingent Requests. CMAA Mission Statement.

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Proposed Budget For the Year ending December 31, 2011


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agenda
AGENDA
  • Review of 2010 financials & milestones
  • Presentation of 2011 budget
  • Highlights of new activities
  • Potential opportunities
  • Contingent Requests
cmaa mission statement
CMAA Mission Statement

The Mission of CMAA is to promote and enhance leadership, professionalism, and excellence in managing the development and construction of projects and programs.

The Vision of CMAA is to be the recognized authority in managing the development and construction of projects and programs.

primary activities
Primary Activities
  • The mission of CMAA is achieved through –
    • Accredited certification program designating Construction Managers as meeting or exceeding professional standards and best practices;
    • Professional education in a variety of areas critical to the success and promotion of the Construction Management industry and profession;
    • Innovative tools and assessments to keep abreast of the changing skills and roles of Construction Managers;
    • Publications to convey value of the profession;
    • Creation and maintenance of Body of Knowledge; and
    • Promotion and advocacy for the industry
cmaa historical statement of activities
CMAA Historical Statement of Activities
  • Overall, revenues have increased steadily year-over-year
  • 2008 was very challenging – 2009 & 2010 focus on tight expense control
  • Maintain commitment to overall strategic mission
2010 milestones
2010 Milestones
  • Record breaking year
    • 6,434 Members
    • More than 1,000 attendees at National Conference
    • Almost 280 certification applications processed
    • 229 new CCMs (as of November 30, 2010)
  • New programs and benefits
    • Sustainability Guideline published
    • Launch of CMpatTM Assessment Tool
    • Repurposed Spring Conference into Owners Forum
    • Solid Progress with Alliance between CMAA & CII
    • Introduction of the Live Learning Center
membership
Membership

Milestones

Membership of 6,434

27 regional chapters and 26 student chapters

Board approved Mega Member category offering unlimited employee memberships and significant professional development benefits

membership1
Membership

Opportunities

  • New Mega Member category
  • New insurance program for small and mid-size service providers
  • More members = more opportunities for certification, meetings, and professional development

Challenges

  • While the number of members has increased by 60% over past 4 years, dues revenues have only increased by 10%
  • Declining retention in key areas such as owners and service providers
  • Number of student members increasing each year, minimal revenue impact
  • No specific membership marketing plan
  • ANSI imposed limitations on soliciting certification candidates for CMAA membership
    • How can we leverage what we have within the boundaries?
  • Continued mergers and acquisitions among members
  • No membership dues increase since 2000
membership2
Membership

Next steps

  • Membership marketing plan – renew, retain, and recruit
  • Further engage chapters to help with membership retention

Resources needed

  • Specific, consistent marketing program focusing on membership
    • Overhaul website
    • Promote CMAA to increase visibility and awareness
  • Outreach to current and potential members
    • Includes targeted membership brochures
    • Allowance for continued membership contact through email and small, target mailings
    • Industry relations activities – CII, SAME, GSA
meetings tradeshows
Meetings & Tradeshows

Milestones

Record attendance at National Conference with more than 1,000 attendees

Successful Rebranding of Spring event into Owners Forum

High quality educational programming

Positive overall attendee experience – excitement (buzz)

meetings tradeshows1
Meetings & Tradeshows

Opportunities

  • Owners Forum with 3 concurrent summits
    • Tie to membership recruitment efforts
    • Increase sponsorships through summit model
  • National Conference to be held in DC
    • High number of federal owners
  • More members = more potential meeting attendees

Challenges

  • Reduced number of booth spaces available
    • Less revenues and opportunities for members
  • Minimal attendee pricing increases past several years to reflect the added value
certification
Certification

Milestones

50% growth in applications processed from 2007 – 2010

67% growth in the number of individuals certified from 2007 – 2010

*Total through 11/30/10

certification1
Certification

Opportunities

  • Substantial interest in webinars on becoming a CCM and the application process
  • Potential new Mega Member anticipates sending 85 individuals through the certification process in 2011
  • VDOT committed to sending an additional 20 individuals through the certification process
  • GSA intends to require 300 senior project managers to obtain CCM credential in the next 2 years
  • More members = more potential certification candidates

Challenges

  • Manual intensive process to review and approve certification applications
  • Manual approach to recertify individuals, leading to lower renewal rates

Next Steps

  • Select and acquire certification specific management system to automate certification process
slide14

Other Professional Development Activities

Milestones

Record 10 SOP Courses conducted in 2010

Introduction of CMpatTM in early December, 2010

Record 24 webinars broadcast in 2010

other professional development activities
Other Professional Development Activities

Opportunities

  • SOP courses delivered easily with chapter involvement
  • Increased interest from owners in training and preparation for CCM
  • More members = more potential professional development participants

Challenges

  • Hard to anticipate needs of new individuals joining with Mega Membership program
  • Free webinars eliminates a current revenue source for the organization

Next Steps

  • Develop and produce an additional 4 modules needed for the online SOP training program
  • Review Body of Knowledge
  • Monitor popularity and expense of free webinars

Resources Needed

  • Cost to develop and produce new SOP modules
recap
RECAP
  • Survived difficult recession
  • All major programs and revenues have been growing
  • Expenses have been held tight
  • Organization has continued to grow despite limited outreach, marketing, or retention efforts

WE HAVE A HUGE OPPORTUNITY!!

new initiatives in 2011
New Initiatives in 2011
  • Expand New Mega Membership Category
  • Conduct marketing & advertising campaign – Budget of $57,000
  • Develop and produce 4 new SOP modules – total investment $40,000, 2011 expense $13,000
  • Overhaul Association website – total investment $30,000, 2011 expense $10,000
  • Purchase and implement certification management system – total investment of $30,000, 2011 expense $10,000
  • Support International Committee request of $10,000
  • Carry out expanded industry relations activities – Cost of $6,500
  • Carry out leadership training for chapter presidents – new expense of $5,000
  • Provide free webinar series
  • Bring all accounting functions in house – annual savings $70,000
membership3
Membership
  • Key Assumptions
  • 8 Large corporate members have upgraded to Mega Membership category
    • ARCADIS, Heery Intl, Hill International, Jacobs, Parsons, PB, Shaw Group, URS
  • 1 New Mega Member budgeted in 2011
  • Focus on retaining members in owner and service provider categories
  • Anticipate continued loss at a decreasing rate of individual memberships
membership4
Membership

Opportunities

  • Come Back Campaign
    • Sent to 443 former service provider members
    • Total revenue potential $200,000
  • Recruit new Mega Member companies
    • Each new company generates $25,000 in new dues
    • Currently being sold by professional association business development consultant
  • Recruit 10 new water/transportation related owner organizations
    • Focus of Owners Forum Summits
    • Each new owner would be $1,200 or $12,000 for 10 (at small owner rate)
membership expenses
Membership Expenses
  • Key assumptions
  • Continued use of business development consultant for first half of 2011
  • Reduce database vendor costs
meetings conferences
Meetings & Conferences
  • Key Assumptions
  • Owners Forum
    • New Sponsorship model changed yielding an increase of $15,000
    • Attendance boost to 330
  • National Conference
    • Attendance budgeted at 870 attendees
    • Sponsorships maintain 2010 levels

Opportunities

  • Increase National Conference attendee registration fees
  • Increase Owners Forum registration fees
  • Additional leadership sponsorship for Owners Forum
marketing tradeshows
Marketing & Tradeshows
  • Key Assumptions
  • Tradeshow space limited to 69 booths
    • Budget assumes continued sell out of the space
  • Renewedorganizational marketing and advertising campaign implemented at a cost of $57,000
  • Overhaul website
    • Total investment $30,000
    • 2011 depreciation expense $10,000
certification2
Certification
  • Key Assumptions
  • Budgeted for 300 application fees, 250 exam fees
  • Recertification fees for 1,000 CCMs
  • Implementation of certification management system
    • Total cost $30,000, 2011 depreciation expense $10,000
  • Opportunities
  • Increase application fees by $20 each = $6,000
  • 10% increase in the number of applications = $8,850
other professional development
Other Professional Development
  • Key Assumptions
  • Expand online SOP modules with 4 new modules
    • Unlimited Subscription/licensed use with Mega memberships
  • CMpatTM launch in December, 2010 and included in Mega Membership
    • Assumes breakeven with $7,500 in additional revenues from individual purchases
  • SOP Courses will include 3 in-house and 9 chapter sponsored
  • Twelve webinars provided at no charge to members, overall cost underwritten by 5 sponsorships at $5,000 each
  • Increase travel costs of $6,500 for industry relations activities
other professional development1
Other Professional Development

Opportunities

  • 18 chapters not currently planning to host SOP Course
    • Minimum 8 attendees would net $1,400 after revenue sharing
      • Participating chapter also gets $1,400
    • 10 additional chapters SOP Courses yields $14,000
publications
Publications
  • Key Assumptions
  • Revenues flat from prior year
  • One time implementation costs of $5,000 in 2010
  • Credit card fees charged against revenues starting in 2011
chapters
Chapters
  • Key Assumptions
  • Conduct chapter leadership training $5,000 – new in 2011
  • Increase in chapter revenue sharing cost based on increase in number of members $4,000
  • Opportunity
  • Revamp revenue sharing formula and distribution model
    • Need to limit risk with new Mega Member category
leadership governance
Leadership & Governance
  • Key Assumptions
  • Expenses consistent year over year
  • Transfer some smaller expenses to marketing
general admin
General & Admin
  • Key Assumptions
  • Bring all accounting functions back in-house
    • Yields savings of $70,000
    • Total savings compared to 2010 $58,000 (eliminated prior to year end)
  • Modest increases in other areas including rent and general office expenses
other revenues
Other Revenues
  • Key Assumptions
  • Revenues will be flat on Career Headquarters, Other Revenues
  • Reimbursements in Chapters and Governance offset directly against expenses in 2011
2011 proposed budget recap
2011 Proposed Budget Recap
  • Continued growth in most areas
  • Space limitations in tradeshow
  • PD lower by including benefits under Mega Membership
2011 proposed budget recap cont
2011 Proposed Budget Recap (cont)
  • Primary increases for marketing & advertising campaign
  • Investments needed in website, SOP modules, and certification management system
  • Fund International Committee Request for $10,000
2011 proposed budget recap cont1
2011 Proposed Budget Recap (cont)
  • Focus on increasing revenues
  • Opportunities to improve bottom line
contingency
Contingency
  • Request to Add 2 New Program Expenses
    • Requires CMAA management to increase revenues above budgeted level
      • Continue to provide regular forecasts throughout 2011
    • Request to use 50% of additional revenues for:
      • Additional administrative staff position
      • Continue marketing & advertising campaign
    • Incentive to find creative solutions
    • Ensure Increase Net Assets
action
Action
  • Motion to approve the budget