Estimate profitability

Take various factors into account to calculate the cost and potential revenues or savings gained from a product in order to evaluate the profit that could be generated by the new acquisition or by a new project.

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skill/competence

cross-sector

Estimate profitability is an essential skill of the following occupations:

Real estate investor: Real estate investors buy and sell own real estate such as appartements, dwellings, land and non-residential buildings to make a profit. They might actively invest in these properties to increase its value by repairing, renovating or improving the facilities available. Their other tasks may include researching the real estate market prices and undertaking property research.
Risk manager: Risk managers identify and assess potential threats and risks to a company, and give advice on how to deal with them. They create preventive plans to avoid and reduce risks, and put plans in place for when the company is threatened.
Property developer: Property developers buy land, finance deals, order construction projects and orchestrate the process of development. They purchase a tract of land, decide on a marketing strategy, and develop the building program. Developers must also obtain legal approval and financing. When the project is finished, they may lease, manage, or sell the property.

Estimate profitability is optional for these occupations. This means knowing this skill may be an asset for career advancement if you are in one of these occupations.

Quantity surveyor: Quantity surveyors have under their helm complete management of the cost involved in building and construction projects from the inception of the project until the delivery. They strive for an efficient use of the resources whilst keeping an eye on quality, quality standards, and client’s requirements.
Financial manager: Financial managers handle all the matters in reference to the finance and investments of a company. They manage financial operations of companies such as the assets, liabilities, equity and cash flow aiming to maintain the financial health of the company and operative viability. Financial managers evaluate the strategic plans of the company in financial terms, maintain transparent financial operations for taxation and auditing bodies, and create the financial statements of the company at the end of the fiscal year.
Budget manager: Budget managers assess financial proposals of different departments before granting financial resources to projects. They monitor the implementation of budget policies and procedures. They work closely with other departments in the evaluation of programs, their impact in the organisation, the revenue that they can yield, and the financial efforts required.
Call centre quality auditor: Call centre quality auditors listen to calls from the call centre operators, recorded or live, in order to assess compliance with protocols and quality parameters. They grade the employees and provide feedback on the issues that require improvement. They interpret and spread quality parameters received by the management.
Marketing manager: Marketing managers carry out the implementation of efforts related to the marketing operations in a company. They develop marketing strategies and plans by detailing cost and resources needed. They analyse the profitability of these plans, develop pricing strategies, and strive to raise awareness on products and companies among targeted customers.
Solar energy technician: Solar energy technicians install and maintain systems that collect solar energy. They prepare the necessary fixtures, often on roofs, install solar panels, and plug them into an electronic system including an inverter to connect the solar energy systems to the electricity lines.
Real estate agent: Real estate agents administer the sales or letting process of residential, commercial properties or land on behalf of their clients. They investigate the property’s condition and assess its value in order to offer the best price to their clients. They negotiate, compose a sales contract or a rental contract and liaise with third parties in order to realize the stated objectives during transactions. They undertake research to determine the legality of a property sale before it is sold and make sure the transaction is not subject to any disputes or restrictions.
Resource manager: Resource managers manage resources for all potential and assigned projects. They liaise with the different departments to see that all various resources are met, in a timely manner, and communicate any resourcing issues that may impact scheduled deadlines.
Sales manager: Sales managers develop sales and targeting strategies for a company. They manage sales teams, allocate sales resources based on the plans, prioritise and follow up on critical leads, develop sales pitches and adjust them over time, and maintain a sales platform to track all leads and sales.
Supply chain manager: Supply chain managers plan, manage and coordinate all activities related to the sourcing and procurement of supplies needed to run manufacturing operations from the acquisition of raw materials to the distribution of finished products. The supplies can be raw materials or finished products, and it can be for internal or external use. Moreover, they plan and commission all the activities needed to be performed in manufacturing plants and adjust operations to changing levels of demand for a company’s products.
Property assistant: Property assistants perform several duties including administrative tasks in the real estate sector. They provide clients with financial information about properties and advise them, they schedule appointments and organise property viewings, they prepare contracts and assist in property valuation.
Operations manager: Operations managers plan, oversee and coordinate the daily operations of production of goods and provision of services. They also formulate and implement company policies and plan the use of human resources and materials.
Programme manager: Programme managers coordinate and oversee several projects working simultaneously. They ensure workability and compatibility among projects ensuring that overall, each one of the projects under the management of project managers, turn out profitable and leveraging one to the other.

References

1. Estimate profitability – ESCO