Financial Management Essentials for Construction Project Leaders

Explore the financial management essentials that are of most interest to construction project leaders and team members!

This course covers detailed elements for financial tracking, monitoring, communicating, and adjusting as the construction project evolves while also carefully balancing the budget and forecasting the financials. These concepts will enable these professionals to track and interpret the financials throughout the life cycle of a construction project.

The purpose of this course is to provide nonfinancial construction professionals with a solid understanding of essential aspects of the finances related to construction projects to ensure successful conclusion and support effective collaboration between departments.

After completing this course, you will be able to:

  • Understand the risks that need managing for the steps of the project life cycle
  • Apply the recommendations for managing contract billing for positive outcomes
  • Integrate job cost systems to capture and project costs to align with the budget
  • Employ recommendations for successful change order management to maintain construction project profitability
  • Implement the steps of project forecasting and managing a project forecast meeting
  • Calculate percent complete and earned revenue
  • Describe the purposes and components of financial statements and implement rules that apply to each statement
  • Identify the interested parties of financial statement information

Level & Prerequisites

This is a Basic Level online self-study course that was developed for construction professionals with 0-3 years of experience in the industry. No prerequisites or advanced preparation is required.

CPE Information

Earn 2.0 CPE credits in the field of Specialized Knowledge upon successfully completing this course and achieving at least 70% on the final exam.

CCIFP Information

Earn 2.0 CCIFP Professional Development credits which can be applied to either the General or Construction Requirement.

Course Length

The estimated time to complete the course and final exam is approximately 2 hours, depending on the pace of the learner.

Who Should Attend?

  • Construction Project Managers
  • Contract Administrators
  • Estimators
  • Other construction employees and business partners who would benefit from understanding the financial management essentials as they relate to construction
  • Project Engineers
  • Superintendents

Price

  • $190 for CFMA Members
  • $235 for Non-Members

CFMA Group Discount

If you are interested in registering a group of individuals at your company, please contact CFMA at education@cfma.org for more information.