“Risk Analysis in Timber Markets,”
Document Actions
The Warnell School will host “Risk Analysis in Timber Markets,” a continuing education program targeting forestry professionals, timberland owners and investment managers involved in buying and selling timber and timberland, and in developing forest management plans and budgets, on Monday, April 9th at the Georgia Center for Continuing Education in Athens.
Fertilizer prices, lumber demand and energy prices. These and other factors affect the actual costs and expected returns of managing forests and timberland investments. This course teaches approaches for reducing risk and uncertainty associated with forest management budgets and wood procurement activities. Upon completion of this course, you should be able to:
- Identify and rank the risks associated with forest management and investing activities
- Develop a risk management plan with readily available strategies and tools
- Understand — and apply — futures contracts and market-based wood supply agreements to hedge price risk
This course also provides an optional one-hour case discussion addressing professional ethics.
Forestry professionals and timberland owners and investment managers involved in buying and selling timber and timberland, and in developing forest management plans and budgets. Realtors involved in and interested in the buying and selling of forest products and timber.
Dr. Brooks Mendell, a principal of Forisk Consulting, has more than 15 years of operating, research, and consulting experience in forestry and the forest products industry. His industry experience includes roles in harvest operations with Weyerhaeuser, in management consulting with Accenture, and as a faculty member in the Department of Banking and Finance and at the Center for Forest Business at UGA. In 2004, he traveled to Uruguay as a Fulbright Scholar to teach courses on forest finance and risk management. Brooks earned BS and MS degrees at MIT, an MBA at the University of California at Berkeley, and a PhD in forest finance at UGA.
Dr. Tim Sydor joined Forisk Consulting in 2005 as forest economist. Tim's professional experience includes roles in forest operations research at the University of Arkansas at Monticello and in forest management for the Tsuman State Forest Enterprise in Ukraine. Currently, his research and consulting include the application of econometric techniques to study factors driving timber and timberland markets. Tim is a frequent presenter at the Southern and Midwest Forest Economics Workshops and taught resource economics as a Visiting Lecturer in the Department of Agricultural and Applied Economics at UGA. Tim earned a BS in forestry at the National Agriculture University of Ukraine, an MS in forest economics at Purdue University, and a PhD in forest economics at UGA.
This course follows a seminar and case study format, with the introduction of key concepts and frameworks followed by class discussion of case studies to reinforce the application of these techniques. Students will have opportunities to ask, either as part of group discussions or in one-on-one discussions with the instructors, about specific risk management situations facing their forestry activities. Handouts will be provided that summarize the materials covered, including references for the most current and relevant data.
The fee for each of these courses is $225, which includes lunch, refreshment breaks, and instructional materials. There is a $30 discount for fees paid by check or credit card and postmarked by March 19, 2007. Preregistration must be accompanied by check, purchase order, or credit card number to guarantee a place in each course. Limited seating is available. Transfer Fee: The Georgia Center will charge a $50 processing fee for a second course transfer, if applicable.
- 7.0 Continuing Forestry Education hours — Category 1
- 7.0 Continuing Logger Education hours — Business Management
- Georgia Real Estate Appraisers Board credits will be applied for — also accepted by the Georgia Real Estate Commission.
Full Attendance Is Mandatory to Receive Credit.
 If you are not satisfied with this course, we will refund your registration fee. Third Course Free! Attend two forestry courses in 2007 as a paid participant and get the third course (with equal or lower course fee) for free. Contact Nette Penn, at 706-542-6658 or Nette.Penn@georgiacenter.uga.edu, before you register for the third course. Fourth Person Free! Register three people from your organization and the fourth person is free. All registrants must be with the same program (same address and same budget), and the registration fees must be paid in advance by check or credit card. |
April 7, 2007 | |
8:00 am | Registration |
8:30 | Introductions and Course Overview |
9:00 | How Managing Risk Creates Value |
10:00 | Break |
10:15 | Risk Identification in Forest Business and Timberland Investing |
Noon | Risk Management Survey |
12:15 pm | Lunch |
1:00 | Risk Analysis with Timber Price Data |
2:30 | Break |
2:45 | Pricing Wood Supply Agreements and Options |
4:00 | Futures Contracts and Fertilizer Costs |
4:30 | Weather Risk |
5:00 | Adjourn |
5:15 | Professional Ethics in Forestry (optional) |
This optional one-hour course focuses on case studies to illustrate the place of ethics in the practice of forestry. It meets the ethics requirement for registered foresters in Georgia.
Now Available Online! Forestry Ethics Online Course
Now you can complete the one-hour Forestry Ethics Online Course from the comfort of your home or office. Register today for this self-paced, self-study program and earn CFE credit! Go here for more details: www.georgiacenter.uga.edu/is/forestry
The Georgia Center for Continuing Education Conference Center & Hotel, located on the beautiful, historic campus of the University of Georgia in Athens, Georgia, provides innovative lifelong learning opportunities that develop intellectual and human potential. A full-service living and learning environment, the Georgia Center includes a 200-room hotel, restaurants, banquet areas, conference rooms, auditoriums, a fitness center, and computer labs — all under one roof. As a unit of UGA's Office of the Vice President for Public Service and Outreach, the Center brings the University's teaching, research, and service expertise to the people of Georgia and beyond! For more information, visit www.georgiacenter.uga.edu.
Special Needs:
If you require special services, facilities, or dietary considerations, contact your event coordinator, Nette Penn at 706-542-6658 or Nette.Penn@georgiacenter.uga.edu at least five business days before your event or prior to April 3, 2007.
Lodging (Georgia Center Hotel):
A block of rooms is being held for your conference until 5:00 p.m. ET, March 17, 2007. Policies: (1) Tax Exemption — The State of Georgia only allows tax-exempt charges for a payment by a state-issued credit card or check or by a direct bill to a state agency (with a Georgia State Tax Exemption Certificate). (2) Lodging Cancellation — Cancel your reservation by 4:00 p.m. ET the day prior to your scheduled arrival to avoid being charged one night's room and tax. (3) At check-in, you must present your credit card or a completed credit card authorization form (for a copy, call 800-884-1381, Mon.-Fri., 8:00 a.m. to 5:00 p.m. ET). Note: The Georgia Center is a smoke-free building; all lodging rooms are nonsmoking.
Travel Information:
Athens, Georgia, is located about 60 miles northeast of Atlanta. For directions, see www.georgiacenter.uga.edu/conferences/about/directions.phtml. A parking deck is located adjacent to the Center (hourly rates, maximum $8 each 24-hour period; vehicle height limit, 7 feet). Athens is served by two airports. Athens-Ben Epps Airport offers connecting flights to and from Charlotte, NC. Hartsfield-Jackson Atlanta International Airport is located about 90 minutes southwest of Athens, with scheduled ground shuttle service and rental car service available between the airport and the Georgia Center.
Program Cancellation Policies:
(1) Full refunds are available for cancellations made by 5:00 p.m. ET, March 29, 2007. No refunds will be issued thereafter; substitutions will be allowed. (2) If a program is cancelled for any reason, the Georgia Center will not be responsible for any charges related to travel. (3) If for unforeseen and unavoidable circumstances an instructor is unable to attend, the Georgia Center reserves the right to substitute a comparable instructor.
1. Register for this event online and request a room at the Georgia Center.
Register for the event online without requesting a hotel room.
A major credit card is required for on-line registration.
2. Call either 1-800-884-1381 or (706) 542-2134 to register by telephone. Please mention you saw this web page.
3. Download a registration form and FAX it to the number on the form or mail it to the address below. You need a copy of the free Adobe Acrobat Reader to view and print this application form.
4. Mail the form to:
Risk Analysis in Timber Markets (#62800)
Attn: Conference Registration, Room 129
Georgia Center for Continuing Education
Conference Center & Hotel
The University of Georgia
Athens, GA 30602-3603
Payment of Fees
The Georgia Center for Continuing Education accepts payments for registration by cash (on-site), check (payable to the University of Georgia), and credit card (Visa, Mastercard, American Express, and Discover).