CONSTRUCTION FINANCE MANAGEMENT
The total value of new private construction in the U.S. is on the rise. In 2018, private sector construction spending was valued at around $992 billion. However, according to KPMG International, only a quarter of those projects were completed within 10% of their original deadlines in the past 3 years, while just 31% stayed within 10% of their original budgets. The industry is in need of skilled professionals who know how to manage budgets and schedules.
This course will teach you about the types of cost estimation involved in projects — from conceptual design phase through the end of a project. By the end of the course, you will have a robust understanding of finance, budgeting, and cost estimates for construction projects.
WHO IS THIS COURSE FOR?
The Construction Finance Management course teaches an all-important skill when it comes to construction and development: how to finish a project on time and on budget. In this course, you’ll learn how to control costs and monitor project cash flow, and get hands-on experience by working on a break-even analysis of construction tasks in a project. If you’re interested in real estate development and currently work in construction, this course is right for you.
This course is designed for:
- Real estate developers
- Real estate investors
- Construction project managers
- Construction cost estimators
EMERITUS and Columbia Engineering Executive Education
Columbia Engineering Executive Education is collaborating with online education provider EMERITUS Institute of Management (EMERITUS) to offer executive education courses.
An EMERITUS Certificate course created in collaboration with Columbia Engineering Executive Education is based on syllabus approved by Columbia Engineering Executive Education, and contains video content created and recorded by Columbia Engineering Executive Education faculty, combined with assessments, assignments, projects, cases, and exercises delivered by EMERITUS. Upon successful completion of the course, learners will be awarded a certificate jointly by EMERITUS and Columbia Engineering Executive Education.
You can read more about the collaboration here.
- Understanding design in the construction industry
- Overview of the types of cost estimates
- Understanding cost indices
- How to measure facades and finishes, define the cut and fill process, calculate caisson and pile costs on a construction project, calculate the concrete takeoff and quantify the rebar on a construction project.
- Understanding structural steel
- Learning about concrete and reinforcing steel
- Estimating equipment costs
- Estimate classification, methods and formats
- Building and finalizing the estimate
- Checks and due diligence
- Bids and procurement
- Cost reporting
- Change orders and communication
- Methods of cost control
- Defining EVM
- Closing out a project
- Cost estimation
- The role and responsibilities of a cost managers
- Cash flow methods
- Charting cash flow
- Calculating billing
- The payment cycle
- Accelerating revenue
- Program cost control
- Defining the cost of a capital program
- Estimating software in action
- Computing interest calculations
- The present and future value of money
- Introduction to financing development projects
- Development costs
- “Comps” based property sale, tax, gain and return
- “Cap rate” based sale, tax, gain and return
- “Discounted cash flow” methods for gain and return
- Introduction to financial plans for development projects
- Debt financing of real estate projects
- Net comprehensive cash flows for sponsor and lender
- DCF project evaluation for sponsor and lender
- Introduction to decision tree analysis
- Global project finance overview
- Stakeholders in project finance
- Principles of project financing
- Risk and risk allocation
- Contracts and agreements
- Money and estimate in capital project delivery
- Benchmarking and normalization process
- Mitigating risk through lean project delivery systems
- How to access probability and mitigate
Dr. Ibrahim Odeh
Senior Lecturer of Civil Engineering and Engineering Mechanics Columbia Engineering
Founding Director, Global Leaders in Construction Management
Dr. Ibrahim Odeh is the research director and founder of the Global Leaders in Construction Management (GLCM) research initiative at Columbia University, where he teaches courses in the area of construction engineering and management for the department of Civil Engineering and Engineering Mechanics at Columbia University.
EMERITUS follows a unique online model. This model has ensured that nearly 90% of our learners complete their course.
- Orientation WeekThe first week is orientation week. During this week you will be introduced to the other participants in the class from across the world. You will also learn how to use the learning platform and other learning tools provided.
- Weekly GoalsOn other weeks, you have learning goals set for the week. The goals would include watching the video lectures and completing the assignments. All assignments have weekly deadlines.
- Learning VideosThe learning video lectures are by the faculty from the collaborating university. These are uploaded on our learning management platform at the start of the week as per the module. The length of the lectures ranges from 1 minute to 10 minutes. These lectures cannot be downloaded. However, access to them is available for a year from the course commencement date.
- Live WebinarsLive webinars are conducted periodically, and it’s schedule is shared via our learning management platform and calendar invites. These sessions are conducted by EMERITUS course leaders who contextualize the video lectures and assist with assignment related questions. You can ask questions using the Q&A board or the chat box. The recorded link of the webinar is shared within 24 hours.
- Live Q&A SessionsThe course leaders conduct Live Q&A Sessions regularly that last for an hour. This activity is to help participants clarify their doubts about the content. The schedule is shared via our learning management platform and calendar invites.
- Follow-UpThe EMERITUS Program Support team members will follow up and assist over email and via phone calls with learners who are unable to submit their assignments on time.
- Continued Course AccessYou will continue to have access to the course videos and learning material for up to 12 months from the course start date.
Assignments are given out weekly and they are based on the lectures or tutorials provided. They need to be completed and submitted as per the deadline for grading purposes. Extensions may be provided based on a request sent to the support team.
It is an open forum where participants pin their opinions or thoughts regarding the topic under discussion.
EMERITUS Program Support Team
If at any point in the course you need tech, content or academic support, you can email program support and you will typically receive a response within 24 working hours or less.
On completing the course you join a global community of 5000+ learners on the EMERITUS Network. The Network allows you to connect with EMERITUS past participants across the world.
ADMISSION & FEES
DURATION AND COURSE FEE
- Starts 26 September 2019
- 3 Months
- 4 – 6 hours per week
- Course Fees USD 1,400
- This course is designed for working professionals and requires proficiency in English. All videos are recorded in English. All assignments are written in English and are required to be responded to in English.
- You can pay for the course either with an international debit or credit card (unfortunately we are unable to accept Diners credit cards), or through a bank wire transfer. On clicking the apply now button below, you will be directed to the application form and the payment page.
- We provide deferrals and refunds in specific cases. The deferrals and refund policy is available here.
- You will be provided a course login within 48 hours of making a payment.
- Please provide your work experience and your current employer via the application.
- You can apply by clicking the Apply Now button
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