Financial Management 6 & 7: Financial Controls, Monitoring & Project Budgeting

Cash flow is the life blood of your firm and lack of cash is the primary cause in 92 percent of all bankruptcies. Increasing cash flow, managing cash, and using cash to your best advantage is as important to your business as superior architecture or design work. This 1-hour online course gives you the knowledge you need to choose a budget method that will control your firmÆs project costs.

This is the sixth and seventh chapter of the ôFinancial Management for the A/E/C Firmö course series from PSMJ Resources, Inc. offered through RedVector.com in its entirety. We strongly recommend that you take all nine chapters of this course series.

After completing this course, you will be able to:

• Clearly define the factors critical to establishing a project budget
• Avoid common project budgeting pitfalls across all budget methods
• Effectively prepare subconsultantsÆ contracts for your project budgets
• Develop a project expenditure curve to monitor manpower requirements, schedule, and budget status
• Utilize worksheets and sample rate calculations
• Monitor manpower utilization, revenues, project completions, and overruns
• Protect your firm against careless record keeping and dishonest employees
• Design an annual business plan designed to meet your short-term goals
• Use financial performance indicators as a motivating tool for good performers
• Utilize worksheets and sample rate calculations

This course includes a multiple-choice test to gage your understanding of the material.

Course Level: Fundamental

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