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.
Anthony Higham is a Senior Lecturer and Chartered Quantity Surveyor at the University of Salford, UK. He has delivered both undergraduate and postgraduate modules in quantity surveying and commercial management for the last 10 years. Carl Bridge is a Chartered Management Accountant at the University of Bolton, UK, and Head of Accounting within the university's Business School. He joined the university in 1989 as a Senior Management Accountant within the central finance office and moved into an academic management role in 2008. Peter Farrell is a Reader in Construction Management at the University of Bolton, UK, and Programme Leader for the university's MSc degree in construction project management. He has delivered undergraduate and postgraduate modules in construction management, commercial management and quantity surveying for 20 years.
1. Pre-contract financial management 2. Procurement systems 3. Elements of a contractor's bid 4. Design and consultancy teams managing finance and risk for employers 5. Valuations and interim payments 6. Post Contract 7. Financial management post practical completion 8. Capital investment appraisal 9. Capital investment appraisal - further considerations 10. Corporate accounts 11. Raising capital and managing liquidity