Project Management Fundaments for Construction Financial Professionals

The success of a construction project results from the contributions and strength of the entire team -- including the financial manager. It requires open communication, understanding and collaboration. Managing, tracking and forecasting the financial results on a construction project require understanding each phase of the project. This program teaches construction financial professionals the language of construction project management, how the information available relates to each phase of the project, and provides an expert’s insight on what can go wrong. This course will take you on a journey through a sample job and map it through every project phase including making adjustments and alignment of financials/data, and how to best collaborate with the project manager to deliver the most profitable results.

Prerequisites:
This is a group-internet based program at the Basic Level. No prerequisites or advanced preparation required. A basic understanding of construction accounting & financial management is recommended.

Program Outline:

  • Introduction to Project Management
  • Phase 1: Project Selection & Acquisition
  • Phase 2: Contract Award
  • Phase 3: Contract Performance & Managing the Process
  • Phase 3: Change Orders
  • Phase 4: Contract Completion
  • Wrap Up / Q&A

When you have completed this course, you will be able to:

  • Explain the structure and activities required for successful project management.
  • List the project management steps and discuss the importance of collaboration with other construction project stakeholders.
  • Identify potential project risks at all stages of the process.
  • Describe all aspects of the Contract Life Cycle including all facets of project bid, acquisition, contract initiation, construction and completion, including both operational and financial aspects.
  • Discuss opportunities to improve communication to enhance project performance and safety.
  • Implement lessons learned, and incorporate proven principles and best practices for successful project management.

CPE Credit:
This program provides 1 CPE credit in the field of Finance and 3 CPE credits in the field of Management Services.

Who Should Take This Course?
Financial managers and other professionals who work with construction projects and/or interface with project managers, operations, risk/insurance, and legal departments. It is also ideal for those individuals who may have managed financials for non-construction related industries and may also include surety, banking and insurance professionals.

Chapter coordinators, contact smadden@cfma.org for more information or to schedule this course for their chapter. If you wish to attend a course at a CFMA chapter, see a list of upcoming courses, or visit CFMA’s Education Online website to learn more about CFMA’s web-based education.

 

NASBAThe Construction Financial Management Association (CFMA) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: Web site: www.learningmarket.org.