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Instructor
Bob Mims, CPA
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Instructor
This four-topic presentation spotlights varied methods to enhance productivity, focusing on proven risk reduction strategies, ERM and insurance management. We also take an in-depth look at the true cost of quality and why quality matters. The focus is straightforward: understanding risk and getting the most return from risk reduction with verified approaches to enhance profitability, thus improving the health of the organization.
Understanding the process to determine the cost of quality within your organization. Why does quality matter? Why is quality so valuable? Have a better understanding of the various external and internal risks present today and expected tomorrow. Understand methods to mitigate risk. Review insurance law and discuss issues regarding the selection of insurance policies. What is valuable to know about insurance exceptions and exclusions? How to successfully implement ERM and integrate it into everyday business practice.
The Cost of Quality: Philip Crosby’s 1985 assertion that “quality is free” prompts an analysis of the four aspects of the cost of quality: prevention, appraisal, internal failure, and external failure. We will explore the true costs of each element and how to measure them, testing the idea that an ounce of prevention is worth a pound of cure. Understanding and Mitigating External and Internal Risks: Risk is an inherent part of modern business, and the role of a Chief Financial Officer (CFO) now encompasses more than just financial management. This seminar will equip professionals with the tools to understand and mitigate both external and internal risks, ensuring organizational performance and sustainability. How to Manage Your Insurance Program: At its core, insurance is about risk management. Leaders must consider what types of insurance are needed, coverage limits, acceptable deductibles, and the difference between a deductible and self-insured retention. This overview is designed for those responsible for insurance and risk, emphasizing the importance of a practical approach to managing insurance for organizational viability. Effective Implementation of Enterprise Risk Management: Many have attempted implementation of ERM (Enterprise Risk Management) systems, and many have failed. This seminar will offer a roadmap for embedding effective ERM practices into daily management and planning without disrupting the organization.
At least six months of professional financial statement analysis experience. General understanding of risk and insurance is preferred and at least six months of professional financial statement analysis experience.
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Managers who want to develop a thoughtful approach towards risk and a method to optimize a practical strategy towards managing risk. Corporate financial leaders, financial managers, CEOs, CFOs, controllers, accountants, board members, advisors, and consultants. CPAs in public practice and CPAs in industry. Business owners, entrepreneurs, and professionals interested in managing risk and understanding the value of quality.