Course overview
To provide students with essential knowledge and skills in relation to the commercial management of finance, working capital, cash flow, project costs, time-related prolongation costs, variations to contract scope, payment and final accounts on construction projects.
- Project Financial Management
- Payment on construction projects
Course learning outcomes
- Generate financial viability reports, cash flow forecasts, cost reports and model working capital requirements with respect to construction projects
- Evaluate prolongation costs arising from project delays, as well as the management of price fluctuations and cost escalation in construction projects.
- Prepare and calculate interim progress payment claims, payment certificates/schedules, and final accounts on construction projects according to contractual requirements. Demonstrate an understanding of how post-contract variations to the scope of works are directed and valued according to contractual requirements.
- Explain and demonstrate how the statutory payment and adjudication schemes in the building and construction industry security of payment legislation affect progress and final payments on construction projects