Project managers may stumble if they lack a clear understanding of how overheads, project costs and planned profits are integral pieces of project “success.” They will learn numerous ways to enhance project performance by understanding how accounting practices, cost controls and financial reports contribute to their successes.

This interactive, Gold Seal accredited course, presented online by Wayne Newell in three half-day sessions, is not a sit and listen event. Hands-on exercises reinforce many of the discussions. The comprehensive course manual is filled with methods and strategies that assure improved performance.

Financial knowledge is necessary to sustain and improve profits. PMs learn how they contribute to accounting processes, financial reviews and monthly reports and how and why accountants do what they do. Importance is placed on system processes to ensure consistency and reliability of financial reports.

Understanding and appreciating the financial side of the business leads to projects being delivered on-time and on-budget. In fact, the success of their companies depends on it.

Cost control is critical to project performance. PMs learn the causes and remedies of low productivity, overhead expense controls, impacts of revenue and cost accruals, methods supporting equipment acquisitions, project close-out evaluations and much more.  

Attendance is encouraged for project managers, coordinators, field supervisors, division managers, administrators, estimators, Gold Seal candidates and anyone who can influence project profits. Since its development and introduction in 2013, almost 1,700 construction professionals have benefited from this course.