krissimmons
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Mar 31, 2007, 4:18 AM
Post #2 of 3
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Re: [adtr] business measurement
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You ought to have programs in place that allow you to monitor these things on a daily basis. You can literally make changes every day that will improve profitability. Once you figure out which work flows work best, document them and make sure everyone in your studio follows them exactly as they are documented. A few quick tips related to project profitability include:
1. Document how many hours you spend on every project
2. Create a spreadsheet that includes the hours you originally budgeted for the project
3. Put the hours you actually spend into a spread sheet that is divided into functional categories (planning, scripting, shooting, editing, etc.)
4. Literally watch the numbers at the end of each day to see how you are comparing to the original budget.
5. Make creative or management decisions that will help you get back on track if the numbers show you are on your way to being over budget.
6. At the end of the project, see whether you were under/over budget and discuss with your team (or think about yourself if you fly solo) why the budget was/wasn't met and what can be done to improve/duplicate in the future.
I use this technique every day in my studio and it allows me to effectively manage several projects that are being worked on simultaneously by several producers. It's a great tool!
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Kris Simmons
http://www.FEPvideo.com
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