THIS COURSE IS HOSTED BY THE CONSTRUCTION INSTITUTE OF CANADA

to enroll or for further information go to this link:

https://www.tcic.ca/pub/course_construction_job_cost_control.html

This is a professional development course for managers in all branches of the construction industry.  It does earn education credit for Gold Seal certification.  It is NOT part of the competency requirements for licensing through the Home Construction Regulatory Authority (HCRA).

This course explores the demands of cost control on construction projects, what causes errors and uncertainty and ways to gain control. Systems are outlined for tracking actual spending against budget, even while projects are underway. We look at how to use information to win a better result on current projects and improve financial planning for future projects.

The key to managing job costs is accurate timely information that can match spending to budgeted amounts. Trying to figure out what happened after the fact is no way to improve. These systems are not standard features of accounting programs. You may need to develop them for yourself. This course is intended to help you implement cost control systems and make them work for you.

Topics Covered:

• Where inaccuracies arise, what makes cost tracking difficult
• Relating your job profitability objective to company performance
• Deriving useful lessons, even from missed objectives
• Understanding the limitations of conventional accounting
• Understanding the limits of construction software. How to make it work for you.
• Methods for monitoring costs in real time
• Matching actual to budgeted job costs
• Matching spending status to job status
• Taking advantage of Purchase Orders
• Some cautions about Cost Plus / Time & Material work
• Non-financial causes of cost overruns and how to prepare

Learning Outcomes:

• Know how to zero in on where cost overruns occur
• Monitor costs and budget status closer to real time and
• Assess spending versus budget for specific phases of project
• Connect more effectively with the whole management team
• Understand how to continuously learn from each job and improve for the next
• So that your control of job costs continues to get better over time