Project planning and controls: Financial Control for Contractors
In the execution of a project, procedures for financial control, cost reporting and record keeping are indispensable. These tools allow contractors to clearly record financial transactions, better manage costs, deal with loss and expense, and prepare accurate final accounts.
To assist those responsible for project finances, this course will look in detail at the tender process, and best practice related to cost controls, variations, cost value reconciliations, acceleration, loss and expense, and disruption costs. You will also go through cost to complete exercises and final account preparation.
Overall you will develop the tools to protect your company from unwanted costs and maximise profits which is something all employers and clients will appreciate.
The course will be of value to:
- Contracts Managers
- Commercial Managers
By the end of the course you will be able to:
- Understand the full tender process and the difference between cost and value
- Demonstrate best practice for dealing with variations, disruption costs and loss and expense
- Demonstrate the importance and benefit of good records for loss and expense recovery
- Show a greater awareness of cost reporting
- Understand the valuation and payment process
The course will cover:
- Tendering Process
- Estimating – Hints & Tips
- Tender clarifications
- Tender Adjudication
- The difference between cost & value
- Preliminaries cost control
- Tips for getting your money !
- Relationship building with Client’s QS
- Interim Valuations
- Valuation of Variations
- Contractors Quotations for Variations
- Acceleration Quotations
- Loss & Expense record keeping
- Preliminaries Matrix
- Head Office Overhead recovery
- Disruption costs
- Dayworks pros and cons
- What to do when you’re not paid!
- Cost Value Reconciliations
- Cost to Complete Exercises
- Negotiating Skills
- Final Account preparation and agreement
Tony Ward FRICS, FCIOB, MCIArb
Tony Ward is a fellow of RCIS, CIOB and member of CIArb with over 30 years experience as a Surveyor and Contract Consultant.
He is also the Founder and Managing Director of Award Consulting Ltd and enthusiastic and experienced trainer in contractual matters.
His key areas of expertise include:
Forensic Quantity Surveying,
Claim Preparation and Rebuttal,
Dispute Resolution and Training
Tony Ward also has extensive experience with £Multi Million UK, Construction Projects. His clients include many top 50 UK Main Contractors, local Councils, Housing Associations and Property Owners. He also has 20 years experience in Claims & Disputes involving Adjudication, Arbitration, Litigation.