Title: Risk Management and Financial Management Training Modules with FAST Tools
1Risk Management and Financial Management
Training Modules with FAST Tools
2FAST Tools
- farmdoc companion project initiated in 1999
- Development of 48 spreadsheet-based tools to aid
decisions for producers, lenders, consultants and
investors - Facilitate use, access, distribution of tools and
resources through CD and internet distribution - Quarterly subscription (400 subscribers)
- farmdoc download (www.farmdoc.uiuc.edu/fasttools/
- via workshops
- Approximately, 45,000 CDs produced, 39,000
downloads - Increased demand for education and training
3Current Resources and Activities
- 40 laptop computer lab
- FAST educator / coordinator
- CD duplication
- 50 meetings in Illinois / integrated FAST last 2
years - Teaching modules for each program
- Case studies and examples
- Outside of educator, operate at full
- cost recovery
- Prairie Farmer monthly column
Theme Focus Teach Decision Making Integrate
and utilize FAST Not just computer training
4Past Educational Efforts3 Dimensions
Host(s)
Intended Audience
Content/Meeting Type
5HostsGetting the right people at the table
- Typical Extension Channels
- Farm Business Farm Management Assn.
- Farm Bureau
- Farm Credit System
- Commercial Banks
- Banking organizations
- Growmark
- Crop Insurance Organizations
6AudiencesTargeted and General
- Farmers
- General and women via Annies project
- Lenders
- Farm Service Agency
- University and Junior College Students
- Educators (train the trainer programs)
- College and Jr College instructors
- Vo-Ag Teachers
- Extension Educators
- State record fieldstaff (Iowa, KY, Illinois and
Alabama)
7Observations from past
- Innovative and high revenue producers
- Computers skills have expanded substantially
- Economic skills of participants have been very
high - Handling meeting logistics (meals, registrations,
etc) are usually the most time consuming
8DAY 1 Exploring Risk Management and
Marketing Strategies Using FAST
- 930 am 1200 pm
- Updates to crop insurance
- Crop insurance tools
- 100 pm 400 pm
- Crop rotation decisions
- Exploring grain delivery alternatives
- Grain marketing tools
- Grain inventory management
9Demo of DAY 1 teaching modules
10DAY 2 Improving Your Financial Management Using
FAST
- 930 am 1200 pm
- Preparing financial statements
- Assessing your performance
- How do you compare?
- How do you improve?
- Farm investment decision-making
- Grain storage, farmland, machinery
- 100 pm 400 pm
- Farm investment decision-making
- Grain storage, farmland, machinery
- Proforma financial planning
11Demo of DAY 2 teaching modules
12Tentative Plans for 2007/2008
- Summer Train the Trainer targeted towards
extension professionals in other states - Campus lender program
- Customized lender tools
- Database capabilities
- Expanded balance sheet and financial management
programs - Larger focus towards host-sponsored programs
- Lenders
- FBFM
- Growmark
- Farm Bureau
- Out-of-state training and assistance to other
state extension personnel