An effective relationship between a contractor’s CFM and PMs is critical to the company’s success. In fact, it’s not surprising that a strong relationship doesn’t come naturally given the differing backgrounds, education, and responsibilities of each role.
It’s common for PMs to view their CFOs and controllers with some degree of skepticism. After all, when things go wrong on a project, the CFM has to report the problem, find out what the issues are, and ask a lot of questions.
Investing time, energy, and thought into establishing a positive and productive connection with PMs can prove essential to a CFM’s success. Here are some tips for CFMs to develop and strengthen this relationship.
1) Put on Your Hard Hat
There is no better way for a CFM to understand the concerns and abilities of his or her employees than to see them in action. Visiting a jobsite shows respect to your company’s managers, superintendents, and skilled staff. Getting out in the field enables you to talk to PMs about their projects and offer a different perspective. Seeing the jobsite from your point of view allows you to ask your PMs how they are solving problems on the job – and perhaps even provide ideas to assist them.
In many cases, I have been able to help PMs by offering information I have learned. For instance, I can share knowledge about a subcontractor or supplier that my PM may not have worked with previously and can give a “heads up” on someone who may be slow at delivering product or aggressive at pursuing change orders. Communicating this information for a PM’s use in planning can help build a strong relationship and improve a PM’s ability to deliver a project effectively.
2) Establish Trust
Part of a CFM’s role is to demonstrate purpose, integrity, and ethical standards to the entire organization and uphold its moral compass. How employees are treated, contracts are enforced, and disputes are handled are more than just business decisions; these actions represent a company’s culture and exhibit the ethical center of its management team.
Since PMs are on the front lines with employees, subcontractors and suppliers, and owners and GCs, they must be able to trust that their CFMs can provide them with clear and consistent advice, quality information, and support for their decisions.
3) Schedule Regular Status Meetings
What should a PM know about a CFM’s needs? Hold regular project status meetings to help communicate why it’s critical to have certain information regarding a project’s progress and health. Include clear explanations of why certain questions are asked, why certain information is needed, and how that information is used by management and outside parties (e.g., non-management owners, banks, sureties, potential clients).