lmp0203 $_summary02041 CPMT Financial Strategy 4 February 2000 Breakout Session Summary

lmp0203 $_summary02042 Financial Strategy Breakout Participants: M. Palmer, M. Tickman, W.Trybula, C.P. Wong Topics: –Mission Statement –What delivers value –Competition/environment –Revenue Prospects –Expenditures –Specific suggestions –Initiatives evaluation –Answers to 5 questions

lmp0203 $_summary02043 CPMT Mission vs. IEEE Statement Networking the World –We’re enablers; not CS, IT, Comm, Wireless –We do bring people together, exchange information Fostering Technological Innovation –Yes! Information exchange, emerging technologies Enabling Members’ Careers –We’re not doing directly; could, probably should Promoting Community Worldwide –What does this mean?

lmp0203 $_summary02044 CPMT Mission Deliver value to the profession –Survey what constitues value; start with members –Trustworthy (refereed) information is useful form Publications --> Database Conferences and other interactions Emerging technology identification/education/synergy Continuing (and initial) education –We’re not reaching manufacturing, EMS, young –Membership secondary to volunteers, “customers” Possible Slogan: Technology packaging and manufacturing for the 21st Century world

lmp0203 $_summary02045 Projected CPMT Environment Societies and commercial competition –Information databases; web-based delivery –IMAPS membership model –NEPCON and other commercial trade shows Continuing pressures to do more with less Smaller, offshore, contract packaging and mfg. Diminishing industry base

lmp0203 $_summary02046 Current Sources of Spendable Revenue 2000 Budget Member dues gross$ 37K Conferences net$235K Transactions net$341K Total$613K (Interest Earnings $ 80K )

lmp0203 $_summary02047 Several years of flux, uncertainty Maintain net revenue from publications –Become involved in model definition –Lead the transition –Prepare questions for Marsha to get answered Preserve conferences revenue Consider revenue opportunities in education Revenue Prospects

lmp0203 $_summary02048 Expenditures IEEE/TAB support may increase Maintain full time Executive Director –Marsha’s about “maxed out” New tasks require doing less of something else –Add Administrative Asst. to track paper reviews $4K+$6K+$8K --> $2K+$2K+$2K+$30K Start by balancing budget; add with care

lmp0203 $_summary Expenditure Plan 2000 Budget IEEE and TAB Support$ 69K Newsletters 18K Executive Office, BoG, etc. 184K Committees, Other 191K NSF/GaTech Fellowship 40K CD-ROM, 50th Anniv., Web 117K Total$619K ~$350K ~$550K

lmp0203 $_summary Strategic Planning Financial Issues (Expenditures) Define multi-year project plans and budgets Maintain adequate financial reserves –Attempt non-deficit annual budgets Balance paid vs. volunteer administration, etc. Trade off what we do now vs. realization of strategy Seek for effectiveness always Invest prudently from reserves as necessary –“Up front” effort often has high leverage –Don’t attempt to run faster than we can

lmp0203 $_summary Specific Suggestions Survey members, then others: Value = ? Do more about manufacturing –Local chapters delivery? Get involved in electronic pubs $ model Get information about electronic pubs $ Fund IEEE paper review tracking (+18K) Enable info slices by topic, not Society

lmp0203 $_summary Electronic only Newsletter option; $5 dues Members only web site area; paid admin. –Positions open/wanted posting web area Consider conference differential $ > CPMT + IEEE membership Consider volunteer perks Something like CPMT/NSF Fellowship Specific Suggestions (Continued)

lmp0203 $_summary Clearly defined goals and benefits Specific plan for  3 years‚ including $s Identified and committed champion(s) Within budget (simple majority BoG approval) Or 2/3 BoG approval to invest Reserves Ongoing review vs. predefined metrics Strategic Planning Financial Issues Proposed Project Approval Criteria

lmp0203 $_summary Answers to Rao’s 5 Questions 1. Vision for next decade or two: Deliver (perceived) value to the Profession 2. Strategy for the next five years: Proceed with caution, conservative budgets Prudently invest from reserves 3. Next year or two: “Holding pattern” fiscal approach Define, lead web-based delivery of information

lmp0203 $_summary Answers to Questions (cont.) What to include in the 2001 budget –IEEE administered tracking of papers review –Administration of members-only web page area –$5 dues option with electronics only Newsletter What needs to be done this year –Survey members, then perhaps others: Value = ? –Get started on papers tracking, members-only web –Determine electronics publications revenue model