Imperial Corporate Training Institute has developed the Construction Financial Management Training Course as a targeted construction management training course so that it can provide professionals with strong financial decision-making skills for any size construction project. Construction projects are often conducted under tightly controlled margins, complex contracts, and very high levels of financial risk; therefore, effective financial management is critical to their overall success. The knowledge learned through this course helps to further develop practical applications of those skills through real examples as well as detailed explanations of how financial planning, performance monitoring and controlling all affect the performance, profitability, and sustainability of construction projects.
The Construction Financial Management Training Course teaches participants how to manage the entire financial lifecycle of a construction project, beginning with pre-contract budgeting through to the final account closeout. Participants will learn about planning and tracking cashflows, tracking performance against budget, establishing financial controls, establishing cost codes, and techniques for accurate future cost forecasting that are utilised by today’s modern construction industry. Participants will also develop skills that enhance their ability to manage construction projects more efficiently and transparently, as well as mitigate risks and improve the cost efficiency of project execution.
Objectives
By the end of the Construction Financial Management Training Course, participants will be able to:
- Recognize the various financial structures and associated cost elements of construction projects
- Create effective cash flow planning routines that agree with the project schedule
- Develop and implement strong financial control systems which provide management of budgets, expenses, etc.
- Utilize systematic coding methods so that cost tracking and reporting accuracy may be improved
- Reliably forecast both costs and revenues for making sound financial decisions
- Manage Financial Risk Associated with Variations, Claims and Cost Overruns
- Analyze the Financial Performance of The Project by Using Key Construction Finance Indicators
- Create Better Coordination Between Finance, Project Management and Commercial Teams
- Enhance Organisational Profitability by Having Disciplined Financial Management Practices
Target Audience
This construction management training course is suitable for professionals involved in financial and commercial decision-making within construction projects, including:
- Construction project managers
- Commercial managers and quantity surveyors
- Construction finance managers and accountants
- Cost engineers and planning engineers
- Contract administrators
- Site engineers with financial responsibilities
- Infrastructure and real estate development professionals
- Project controllers and cost controllers
- Consultants involved in construction financial planning and analysis