Construction Tech & Innovation Series
Help your construction business understand the importance and opportunities in leveraging equipment economics to optimize your fleet.
Equipment economics is the construction industry’s subset of economics that focuses entirely on equipment acquisition, operation, maintenance and disposal. As a study, it’s easy to define but in practice hard to execute. These seemingly obvious areas of focus require access to and deep understanding of several key robust equipment operations data points that can be difficult to outline and even harder to measure – especially with differing opinions from internal project and equipment groups. But without true equipment data to accurately charge their jobs, contractors often don’t know if they are losing money on their machines or whether their projects are profitable. And losing sight of the bottom line can put contractors millions of dollars in a loss position without even knowing it.
Learning Objectives:
1: Define the metrics necessary to successfully identify the leading indicators that provide operational insight on equipment.
2: Learn methods for the equipment and operations groups to manage these insights to drive down costs.
3: Uncover a framework contractors can use to allocate equipment costs between their jobs and their owning and operating costs.
About the Instructors
As a Product Analyst for Tenna, Will supports the product roadmap and manages the lifecycle from idea conception to production. With a decade of experience as a Certified Public Accountant in Big Four accounting, multinational manufacturing, and construction equipment management, Will has developed a strong foundation in finance and analytics. During his four years in construction equipment management, he utilized his analytical skills to build robust models that leverage leading and lagging indicators to inform strategic decisions. These decisions include identifying the optimum ownership period, setting accurate equipment rates, and making data-driven choices regarding repair, replacement, and disposal strategies. His commitment to excellence and efficiency ensures that Tenna is grounded in solid analytical practices aimed at providing strategic insights.
Series Sessions
