The engineer of today has often little grasp of the commercial side of the business - how we operate financially. The first 9 topics (and others) in the Written Assignment list for the ICE Professional Review relate to Finance.
If an engineer hopes to progress managerially a grasp of the financial aspects of the business will be essential. This course is structured to give an insight into financial management as well as to provide the initial guidance to the financial topics related to the ICE Review and other Professional Bodies.
The course is run on a participative basis.
Course Objectives:
At the end of the course, delegates should have an appreciation of:
The regulatory framework and its effect on construction.
The tendering process and how tenders are compiled.
The effects of variations and the stages required for the recovery of additional cost.
How tender prices are compiled.
Financial control - cost and value reporting, cash management and "profit."
The need for a budget as a project and business management and development too.
Course Outline:
Effects of Law and Regulation - The primary pieces of legislation and their effect upon construction methods and economics.
Elements of Price Explained - The tender process explained including an outline of the compilation of rates and prices and the submission and review of the tender itself.
Variations - how they arise, their effect and paying/being paid for them.
Cost and Value - Their definition, how they are reported and the importance of cash flow to the business.
Budgets - Their purpose, compilation and use as an effective management tool for project and business control and development.
Intended for:
Graduate engineers seeking wider experience to progress to the Professional Review.
Engineers and managers who need to improve their financial understanding.
