Financial Management In Construction Contracting

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Financial Management in Construction Contracting

Author : Andrew Ross
Publisher : John Wiley & Sons
ISBN 13 : 1405125063
Total Pages : 458 pages
Book Rating : 4.4/5 (51 download)

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Book Synopsis Financial Management in Construction Contracting by : Andrew Ross

Download or read book Financial Management in Construction Contracting written by Andrew Ross and published by John Wiley & Sons. This book was released on 2013-01-29 with total page 458 pages. Available in PDF, EPUB and Kindle. Book excerpt: This authoritative text provides a detailed insight into how construction companies manage their finances at both corporate and project level. It will guide students and practitioners through the complexities of the financial reporting of construction projects within the constraints of accepted accounting practice. The book is written for non-accountants and from a contractor’s perspective and is equally relevant to subcontractors and main contractors. The authors examine the relationship between the external annual accounts and the internal cost-value reconciliation process. CVR is covered in depth and the authors consider issues such as interim payments, subcontract accounts, contractual claims, final accounts, cash flow management and the reporting of the physical and financial progress of contracts. A broad perspective of all the financial aspects of contracting is taken along with related legal issues and the authors explain how things operate in the ‘real world’. They describe good practice in financial control while at the same time being honest about some of the more questionable practices that can - and do - happen. The approach taken is unique as the financial management of construction projects is considered from the perspective of the contractor’s quantity surveyor. The book deals with the real issues that surveyors have to address when using their judgment to report turnover, profitability, cash flow, and work in progress on projects and the financial problems faced by subcontractors are frankly and pragmatically explored. The payment and notice requirements of the Construction Act are explained in detail and relevant provisions of JCT2011, NEC3, ICC, DOM/1 and other standard contracts and subcontracts are also covered. Financial Management in Construction Contracting addresses the wide variety of external factors that influence how construction companies operate, including government policy, banking covenants and the financial aspects of supply chain management. Cost reporting systems are described and real-life examples are used to illustrate cost reports, accrual systems and how computerised systems can be employed to provide the QS with information that can be audited. Examples drawn from practice demonstrate how work-in-progress (WIP) is reported in contracting. Cost value reconciliation reports are featured and the book demonstrates how adjustments are made for overmeasure, undermeasure, subcontract liabilities and WIP as well as explaining the processes that contractors use when analysing external valuations. This is the ideal core text for final year degree and post-graduate level modules on Quantity Surveying, Commercial Management, Construction Management and Project Management courses and will provide an invaluable source of reference for quantity surveyors and others who may be engaged in the financial management of construction projects. The book’s companion website at www.wiley.com/go/rossfinancialmanagement offers invaluable resources for students and lecturers as well as for practising construction managers: end-of-chapter exercises + outline answers PowerPoint slides for each chapter ideas for discussion topics links to useful websites

Risk and Financial Management in Construction

Author : Simon A. Burtonshaw-Gunn
Publisher : Routledge
ISBN 13 : 1351903071
Total Pages : 200 pages
Book Rating : 4.3/5 (519 download)

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Book Synopsis Risk and Financial Management in Construction by : Simon A. Burtonshaw-Gunn

Download or read book Risk and Financial Management in Construction written by Simon A. Burtonshaw-Gunn and published by Routledge. This book was released on 2017-03-02 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: In today’s climate the need for a closer understanding of the relationship between the two inter-related topics of risk management and finance on construction projects is becoming increasingly crucial to achieving the objectives of the investor, the end-user and the constructor and its supply chain, especially as interest in PFI and PPP arrangements continues to grow around the world. Risk and Financial Management in Construction shows the relationship between the Construction Project Manager’s task of balancing time, cost and quality and the need to satisfy the client’s requirements efficiently, effectively and professionally whilst at the same time contributing to the contractor’s future sustainability. The book covers Risk Management describing the tools and methods to reduce the occurrence and consequences of risk, and the financial management of construction projects from raising funding, to contract strategy and through to estimating, budgeting and cost control. It includes a chapter covering international project risk, bringing together the issues of risk management, prime contracting, and PFI funding for construction projects undertaken away from the contractors main home market. Risk and Financial Management in Construction is aimed at those practising in, or studying to enter, the project management profession in providing a strategic and operational knowledge of these subjects allowing the reader easy access to the key points through a wide selection of models, checklists and easy to find lists in all of the key areas.

Financial Management and Accounting Fundamentals for Construction

Author : Daniel W. Halpin
Publisher : John Wiley & Sons
ISBN 13 : 1118174275
Total Pages : 320 pages
Book Rating : 4.1/5 (181 download)

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Book Synopsis Financial Management and Accounting Fundamentals for Construction by : Daniel W. Halpin

Download or read book Financial Management and Accounting Fundamentals for Construction written by Daniel W. Halpin and published by John Wiley & Sons. This book was released on 2011-09-09 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: TECHNOLOGY/ENGINEERING/CIVIL SUCCESSFUL FINANCIAL MANAGEMENT IN THE CONSTRUCTION INDUSTRY BEGINS WITH THIS HANDS-ON GUIDE While construction professionals are skilled in the technical side of their work, they often find the financial management aspect of the business daunting. Financial Management and Accounting Fundamentals for Construction will help you better understand and navigate the financial decisions that are part of every construction project. This book is a compact summary of the basic financial skills that a construction professional must have to be successful in the management of a construction company and its projects. Its topics address many of the questions that any construction administrator will face, such as: How to organize and use a company's financial reports What amount of cash must be made available to the contractor to complete a project Why the early payment of supplier invoices can enhance profitability How to quantify the time value of money in financial decisions What tax amount is owed by a company and how it impacts the bottom line How to control project costs What financial sources are available to a construction contractor for capital expansion In this text, you will learn about accounting fundamentals, project-related financial matters, and company level financial issues—three factors that are key to your career success. An ideal reference for students of construction management and engineering, as well as professionals who need a quick refresher when dealing with cost control analysis and other financial issues, this text also offers: Easy-to-understand coverage of financial concepts specific to the construction industry, including business taxation, project control, engineering economy, and financial forecasting Numerous worked examples, plus end-of-chapter review questions and exercises Helpful appendices that present the structure of a typical chart of accounts, the flow of transactions through a construction accounting system, and tables required for computing interest and the time value of money

Construction Accounting & Financial Management

Author : Stephen Peterson
Publisher : Pearson Higher Ed
ISBN 13 : 1292054875
Total Pages : 281 pages
Book Rating : 4.2/5 (92 download)

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Book Synopsis Construction Accounting & Financial Management by : Stephen Peterson

Download or read book Construction Accounting & Financial Management written by Stephen Peterson and published by Pearson Higher Ed. This book was released on 2013-10-03 with total page 281 pages. Available in PDF, EPUB and Kindle. Book excerpt: For all courses in construction accounting and construction finance, and for courses in engineering economics taught in construction management programs. This book helps construction professionals and construction management students master the principles of financial management, and adapt and apply them to the challenge of profitably managing construction companies. It integrates content that has traditionally been taught through separate accounting, finance, and engineering economics texts. Students learn how to account for a construction company’s financial resources; how to manage its costs, profits, and cash flows; how to evaluate different sources of funding a company’s cash needs; and how to quantitatively analyze financial decisions. Readers gain hands-on experience through 220 example problems and over 390 practice problems, many of them based on situations actually encountered by the author. This edition adds more than 100 new discussion questions, and presents financial equations and accounting transactions more visually to support more intuitive learning.

Project Management for Construction

Author : Chris Hendrickson
Publisher : Chris Hendrickson
ISBN 13 : 0137312660
Total Pages : 425 pages
Book Rating : 4.1/5 (373 download)

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Book Synopsis Project Management for Construction by : Chris Hendrickson

Download or read book Project Management for Construction written by Chris Hendrickson and published by Chris Hendrickson. This book was released on 1989 with total page 425 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Construction Process Planning and Management

Author : Sidney M Levy
Publisher : Butterworth-Heinemann
ISBN 13 : 9780080949802
Total Pages : 392 pages
Book Rating : 4.9/5 (498 download)

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Book Synopsis Construction Process Planning and Management by : Sidney M Levy

Download or read book Construction Process Planning and Management written by Sidney M Levy and published by Butterworth-Heinemann. This book was released on 2009-09-24 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt: By their very nature, construction projects can create seemingly endless opportunities for conflict. Written by a best selling author with over 40 years of experiences in the construction and general contracting business, Construction Process Planning and Management provides you with the necessary tools to save time and money on your construction project. In this book, Sid Levy provides valuable advice for avoiding or working through the common problems that are a result of the long-term nature of construction projects, failure to select a ?project delivery system? appropriate to the project, incomplete drawing and specifications, unrealistic scheduling, poor communication and coordination among participants, and inadequate contract administration. From project genesis, through design development to contractor and contract selection, on to construction oversight, punch list and successful project close-out, this book will point out those pitfalls to avoid and offer practical advice at every step along the way. Administer the general construction process including solicitation of contractor's qualifications (pre-qualify bidders), comparative analysis of bid packages, recommendation for contract award, contract document negotiation and documentation of job change orders Provide Project Planning and on-site management and coordination of all construction projects Ensure compliance of building construction rules and regulations and collaborate with chief engineers to monitor quality of construction Conduct technical/plan review of construction documents and submit written responses identifying required corrections or changes Design, implement and oversee Company standards for construction policies, practices and processes

Construction Accounting and Financial Management

Author : William E. Coombs
Publisher : McGraw-Hill Companies
ISBN 13 :
Total Pages : 616 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Construction Accounting and Financial Management by : William E. Coombs

Download or read book Construction Accounting and Financial Management written by William E. Coombs and published by McGraw-Hill Companies. This book was released on 1977 with total page 616 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Project Finance for Construction

Author : Anthony Higham
Publisher : Taylor & Francis
ISBN 13 : 1317377141
Total Pages : 400 pages
Book Rating : 4.3/5 (173 download)

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Book Synopsis Project Finance for Construction by : Anthony Higham

Download or read book Project Finance for Construction written by Anthony Higham and published by Taylor & Francis. This book was released on 2016-12-08 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: The world of construction is intrinsically linked with that of finance, from the procurement and tendering stage of projects right through to valuation of buildings. In addition to this, things like administrations, liquidations, mergers, take-overs, buy-outs and floatations affect construction firms as they do all other companies. This book is a rare explanation of common construction management activities from a financial point of view. While the practical side of the industry is illustrated here with case studies, the authors also take the time to build up an understanding of balance sheets and P&L accounts before explaining how common tasks like estimating or valuation work from this perspective. Readers of this book will not only learn how to carry out the tasks of a construction cost manager, quantity surveyor or estimator, they will also understand the financial logic behind them, and the motivations that drive senior management. This is an essential book for students of quantity surveying or construction management, and all ambitious practitioners.

Managing the Profitable Construction Business

Author : Thomas C. Schleifer
Publisher : John Wiley & Sons
ISBN 13 : 1118837134
Total Pages : 395 pages
Book Rating : 4.1/5 (188 download)

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Book Synopsis Managing the Profitable Construction Business by : Thomas C. Schleifer

Download or read book Managing the Profitable Construction Business written by Thomas C. Schleifer and published by John Wiley & Sons. This book was released on 2014-02-21 with total page 395 pages. Available in PDF, EPUB and Kindle. Book excerpt: Take control of your construction contracting business and manage it through the natural highs and lows of the construction market. Learn from a team of construction business veterans led by Thomas C. Schleifer, who is commonly referred to as a construction business "turnaround" expert due to the number of construction companies he has rescued from financial distress. His financial acumen, combined with his practical, hands-on experience, has made him a sought-after private consultant. His experience and no-nonsense philosophy have truly given him a unique perspective. Important topics covered include: Understanding the primary areas of construction business failure in the next decade Minimizing business risk with real-world examples Developing a positive and competent management attitude and strategy Discover how to maneuver through this complicated and risky industry by using the authors' research and proven success strategies to sustain and grow your business.

Construction Contracting

Author : Richard H. Clough
Publisher : John Wiley & Sons
ISBN 13 : 1118693213
Total Pages : 692 pages
Book Rating : 4.1/5 (186 download)

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Book Synopsis Construction Contracting by : Richard H. Clough

Download or read book Construction Contracting written by Richard H. Clough and published by John Wiley & Sons. This book was released on 2015-04-06 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt: The definitive contracting reference for the construction industry, updated and expanded Construction Contracting, the industry's leading professional reference for five decades, has been updated to reflect current practices, business methods, management techniques, codes, and regulations. A cornerstone of the construction library, this text presents the hard-to-find information essential to successfully managing a construction company, applicable to building, heavy civil, high-tech, and industrial construction endeavors alike. A wealth of coverage on the basics of owning a construction business provides readers with a useful "checkup" on the state of their company, and in-depth exploration of the logistics, scheduling, administration, and legal aspects relevant to construction provide valuable guidance on important facets of the business operations. This updated edition contains new coverage of modern delivery methods, technology, and project management. The field of construction contracting comprises the entire set of skills, knowledge, and conceptual tools needed to successfully own or manage a construction company, as well as to undertake any actual project. This book gives readers complete, up-to-date information in all of these areas, with expert guidance toward best practices. Learn techniques for accurate cost estimating and effective bidding Understand construction contracts, surety bonds, and insurance Explore project time and cost management, with safety considerations Examine relevant labor law and labor relations techniques Between codes, standards, laws, and regulations, the construction industry presents many different areas with which the manager needs to be up to date, on top of actually doing the day-to-day running of the business. This book provides it all under one cover – for the project side and the business side, Construction Contracting is a complete working resource in the field or office.

Construction Business Management

Author : Nick B. Ganaway
Publisher : Routledge
ISBN 13 : 1136414878
Total Pages : 209 pages
Book Rating : 4.1/5 (364 download)

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Book Synopsis Construction Business Management by : Nick B. Ganaway

Download or read book Construction Business Management written by Nick B. Ganaway and published by Routledge. This book was released on 2007-06-01 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: Only 43 per cent of U.S. construction firms remain in business after four years. Why? Inadequate management, according to the U.S. Small Business Administration. This is surprising because most construction firms are formed by ambitious construction project managers, executives and tradesmen who have excelled at what they have been doing. But as experienced as these entrepreneurs may be, they are not likely prepared to take on the full range of responsibilities forced on them in managing the business of construction in its entirety. While this business failure rate and its causes are based on U.S. experience, available data from a number of other industrialized countries shows they are similar. This book describes in detail what the business side of the construction equation requires of the construction firm owner. The contractor who quickly learns these requirements can identify and avoid or manage around the pitfalls that cause the high failure rate in our industry and put his or her construction firm on a level playing field with the best-run companies in the business. The detailed duties of the owner, whether in the U.S., U.K., Australia or Canada, are a common theme throughout the book. The author, Nick Ganaway, speaks peer-to-peer, and the book is sprinkled with supporting examples from his own experience. He is immersed in the industry and this book is "based on the things I've learned, used, and refined as a light-commercial general contractor in the course of starting and operating my own construction firm for 25 years." The contractor doing $5 million or $50 million or more in annual sales or the equivalent amount in other countries, or the entrepreneur who is just starting up, can use the tried and proven material in this book to build a business that is profitable, enjoyable, and enduring. Additionally, the book devotes a chapter to specializing in chain-store construction.

Home Builder Contracts and Construction Management Forms

Author : NAHB Business Management
Publisher : Builderbooks
ISBN 13 : 9780867186161
Total Pages : 0 pages
Book Rating : 4.1/5 (861 download)

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Book Synopsis Home Builder Contracts and Construction Management Forms by : NAHB Business Management

Download or read book Home Builder Contracts and Construction Management Forms written by NAHB Business Management and published by Builderbooks. This book was released on 2006 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Nearly 100 of the most useful business forms and contracts for builders are gathered from builders across the country: sales and marketing forms, contracts, agreements, trade contractor specifications, checklists, orientation and quality control documents, and more. Documents can be downloaded from the CD and customized.

Financing Construction

Author : Russell Kenley
Publisher : Routledge
ISBN 13 : 1134573472
Total Pages : 304 pages
Book Rating : 4.1/5 (345 download)

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Book Synopsis Financing Construction by : Russell Kenley

Download or read book Financing Construction written by Russell Kenley and published by Routledge. This book was released on 2003-09-02 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: Cash is king, not least in the construction industry. Recent government-commissioned reports have highlighted the importance of better financial management in the construction industry. This professional text provides a considered analysis of the tools and techniques of project financial management in construction; notably it covers cash flow modelling and provides the first detailed investigation of the contentious issue of cash farming. Through use of case studies, worked examples and questions this book will appeal to practitioners and students alike.

Managing a Construction Firm on Just 24 Hours a Day

Author : Matt Stevens
Publisher : McGraw Hill Professional
ISBN 13 : 007163147X
Total Pages : 417 pages
Book Rating : 4.0/5 (716 download)

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Book Synopsis Managing a Construction Firm on Just 24 Hours a Day by : Matt Stevens

Download or read book Managing a Construction Firm on Just 24 Hours a Day written by Matt Stevens and published by McGraw Hill Professional. This book was released on 2006-11-09 with total page 417 pages. Available in PDF, EPUB and Kindle. Book excerpt: This detailed overview of the construction contracting business delivers an invaluable collection of best practices, forms, templates, and checklists designed to reduce risks and increase profits. Contractors will learn everything they need to know about the make-or-break areas of estimating, pricing, bidding, project management, and financial management. The author is well-known in the industry, with a weekly newsletter, website, online digest, regular column for Contractor magazine, and 70-plus seminar bookings for 2006 Extensive examples and illustrations help readers apply the insights offered

Business Principles for Landscape Contracting

Author : Steven Cohan
Publisher : Routledge
ISBN 13 : 1351847082
Total Pages : 340 pages
Book Rating : 4.3/5 (518 download)

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Book Synopsis Business Principles for Landscape Contracting by : Steven Cohan

Download or read book Business Principles for Landscape Contracting written by Steven Cohan and published by Routledge. This book was released on 2018-04-09 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt: Business Principles for Landscape Contracting, fully revised and updated in its third edition, is an introduction to the application of business principles of financial management involved in setting up your own landscape contracting business and beginning your professional career. Appealing to students and professionals alike, it will build your knowledge of financial management tools and enable you to relate their applications to real-life business scenarios. Focusing on the importance of proactive financial management, the book serves as a primer for students in landscape architecture, contracting, and management courses and entrepreneurs within the landscape industry preparing to use business principles in practice. Topics covered include: Financial management and accountability Budget development Profitable pricing and estimating Project management Creating a lean culture Personnel management and employee productivity Professional development Economic sustainability.

Cost Accounting and Financial Management for Construction Project Managers

Author : Len Holm
Publisher : Routledge
ISBN 13 : 1351376942
Total Pages : 400 pages
Book Rating : 4.3/5 (513 download)

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Book Synopsis Cost Accounting and Financial Management for Construction Project Managers by : Len Holm

Download or read book Cost Accounting and Financial Management for Construction Project Managers written by Len Holm and published by Routledge. This book was released on 2018-09-03 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: Proper cost accounting and financial management are essential elements of any successful construction job, and therefore make up essential skills for construction project managers and project engineers. Many textbooks on the market focus on the theoretical principles of accounting and finance required for head office staff like the chief financial officer (CFO) of a construction firm. This book's unique practical approach focuses on the activities of the construction management team, including the project manager, superintendent, project engineer, and jobsite cost engineers and cost accountants. In short, this book provides a seamless connection between cost accounting and construction project management from the construction management practitioner’s perspective. Following a complete accounting cycle, from the original estimate through cost controls to financial close-out, the book makes use of one commercial construction project case study throughout. It covers key topics like financial statements, ratios, cost control, earned value, equipment depreciation, cash flow, and pay requests. But unlike other texts, this book also covers additional financial responsibilities such as cost estimates, change orders, and project close-out. Also included are more advanced accounting and financial topics such as supply chain management, activity-based accounting, lean construction techniques, taxes, and the developer’s pro forma. Each chapter contains review questions and applied exercises and the book is supplemented with an eResource with instructor manual, estimates and schedules, further cases and figures from the book. This textbook is ideal for use in all cost accounting and financial management classes on both undergraduate and graduate level construction management or construction engineering programs.

The Construction MBA: Practical Approaches to Construction Contracting

Author : Matt Stevens
Publisher : McGraw Hill Professional
ISBN 13 : 0071763260
Total Pages : 513 pages
Book Rating : 4.0/5 (717 download)

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Book Synopsis The Construction MBA: Practical Approaches to Construction Contracting by : Matt Stevens

Download or read book The Construction MBA: Practical Approaches to Construction Contracting written by Matt Stevens and published by McGraw Hill Professional. This book was released on 2012-07-02 with total page 513 pages. Available in PDF, EPUB and Kindle. Book excerpt: Proven business strategies for operating a profitable and efficient construction firm Written by a successful management researcher, advisor, and educator to construction contractors, The Construction MBA reveals effective operating practices for managing the multiple processes that must work simultaneously to make a construction firm consistently profitable. The methods in the book apply to both general and specialty contracting firms and describe how to grow both the top line and bottom line. This strategic resource explains how to integrate metrics into your business model that allow you to identify and react to critical trends. You'll learn ways to gain the competitive edge by adopting superior processes, speeding up your business cycle, and maximizing client satisfaction. Tips for positioning your firm on the "sweet spot" of the risk-reward curve are also included. Realworld case studies demonstrate the concepts presented in this practical guide. In addition, eight legendary management books are reviewed and their lessons are applied to the construction contracting business. The Construction MBA covers: The new business model Corporate objectives and strategies Work acquisition Operations management Human resources Financial management Technology Good operating practices