A Project Manager’s Guide to Accounting
Project Managers have a major role in delivering projects on-time and on-budget. In fact, the success of their companies depends on it. They may stumble if they do not have a clear understanding of how overheads, project costs and planned profits are integral pieces of project “success”.
In two classroom days, Wayne Newell draws upon 35 years of financial and construction-contracting experience to help them recognize problem projects, identify unwanted expenses, increase productivity, manage overhead expenses and address labour shortages. With a clear understanding and appreciation of the financial side of the business, projects will be delivered on-time and on-budget.
The major issue facing contractors’ productivity today is the forecasted labour shortage by 2030. This course identifies a number of the major causes and offers methods to resolve them with a focus on attracting skilled workers, young people and women to your company.
This is not a sit and listen event. It is an interactive course with hands-on exercises that walk you through each step of the financial process Open forums to discuss labour shortages, labour productivity strategies, revenue/cost accruals and overhead expense controls will reinforce these topics.
Financial understanding is necessary to sustain and improve profits. PMs learn how and why accountants do what they do and how PMs contribute to accounting processes, financial reviews and reports. Importance is placed on the processes to ensure the monthly financial reports are consistent and reliable.
Cost control is critical to project performance. PMs learn the causes and remedies of low productivity, controls for overhead expenses, impact of revenue and cost accruals, methods to support equipment acquisitions, project close-out evaluations and many more proven methods and strategies.
Your comprehensive course manual filled with the methods and strategies you need for your business, will serve as your reference guide.
Attendance is encouraged for project managers, coordinators, field supervisors, division managers, administrators, estimators, Gold Seal candidates (two credits) and anyone who can influence project profits. Since its development and introduction in 2019, almost 200 construction professionals have benefited from this exclusive course.
They will use their comprehensive course manual during the course and on their projects – it is filled with the methods and strategies needed to improve operations, cash flow and profits. They will learn to take the uncertainly out of decision making and deliver better bottom-line results. This is not a sit and listen event. This is an interactive course with hands-on exercises that walk PMs through steps of the financial process.
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