This is an intermediate level self-study course. Upon successful completion of this course, attendees will be able to:
• Identify the major categories of insurable liability risk faced by contractors and explain how each is covered by the standard CGL policy
• Differentiate the two coverage triggers used in commercial general liability insurance policies and explain how each trigger defines what policy will apply
• Define and give examples of: 1) "bodily injury" and 2) "property damage" and differentiate "bodily injury" from "personal injury"
• Assess the nuances of key CGL policy exclusions including the scope of coverage preserved by exceptions to the exclusions
• Explain the significance of "insured" status and differentiate between a named insured, an insured, and an additional insured under the CGL policy
Are you preparing to become a Certified Construction Industry Financial Professional (CCIFP)? This intensive seminar targets the essential competencies required of a CCIFP. Find out what every CCIFP needs to know so you can determine how you measure up before you sit for the industry exam.
This full-day program provides an overview of the requisite financial management proficiencies based on the domains listed in Financial Management and Accounting for the Construction Industry, the "Body of Knowledge" for CCIFPs, and one of your primary certification resources. Takeaways include CFMA’s completely reconstructed Study Guide for the CCIFP Exam.
• List topic areas that comprise the “Body of Knowledge” for CCIFPs
• Identify important topics, concepts, calculations, and practices that a CCIFP should know
• Recognize your own level of knowledge against that of a CCIFP
• Target your study efforts to broaden and deepen your mastery of these critical subject areas
• Use this experience and the materials to assist with your exam preparation
Join an insurance/surety broker and a CFM/risk manager for a debate on three diverse subjects that keep CFMs up at night. They will uncover an underwriter’s biggest loss control concerns and how contractors can anticipate and respond to each. They will also discuss actual contractor cyber liability claims, and how insurance can provide both risk transfer and risk control solutions.
The session will culminate in a demonstration of coverage templates for several insurance lines (General Liability, Umbrella, Builders’ Risk, et al.) that can give a CFM risk manager assurance that each policy does (or does not!) meet their own company's minimum standards, and suggest insurance policy delivery and review standards that work.
• Learn how to dovetail your company’s safety and risk control efforts with underwriters’ latest hot-button issues including fleet safety, contractual risk, aging and undermanned workforce, opioid and recreational/medicinal marijuana use, and not to mention, senior management’s focus on top-notch claims management
• Manage the rapidly-evolving risk of cyber incidents, from data breaches to system crashes to social engineering schemes, and learn how your company’s insurance program, with its varied but untested products, can best respond.
• Interpret that 500-page insurance binder sitting on your company bookshelf or hard drive containing property and casualty policies and learn how to decipher if your coverage is missing something vital
This serious yet engaging program exposes the risk factors suicide presents to the construction industry – and what can be done to address it: Prevention! Discover the correlation between performance issues and mental health, safety and substance abuse. This session launches the two-part educational program that will be offered free of charge to all chapters for local delivery.
Clearly identify warning signs and appropriate courses of action using resources offered. Tackle this cultural issue by working with peers to conduct a needs analysis and develop a Suicide Prevention Plan for your company – integrating awareness with action.
• Gain an understanding of the industry elements that link mental illness, mental wellness, and suicide prevention, including factors such as substance abuse and opioid addiction
• Understand how performance, production and safety issues can correlate closely with mental health concerns and suicide risk factors
• Build a business case for suicide prevention, and discuss the need for addressing it in the workplace
• Use the Suicide Prevention Needs Analysis & Integration Checklist to conduct a needs analysis of their organization’s current business practices and policies
• Describe and utilize available suicide prevention resources
Equipment management is a complex and difficult task that affects almost every aspect of a company’s operation. Successfully managing equipment costs requires accounting and finance skills and expertise through the entire equipment life-cycle from acquisition through disposal.
This session will focus on best practices in equipment and fleet management including equipment philosophy and structure, acquisition strategies, maintenance, disposal, and much more. It will prepare you to develop accurate equipment costs and set rates.
• Understand how to align your equipment structure, costing methods, and reporting with your company culture and philosophy
• Effectively evaluate equipment acquisition, leasing, and rental strategies, and their impact on your equipment owning and operating costs
• Develop strategies to address the impact of the equipment department on your company’s estimating, operations, and accounting departments
• Understand the importance of an effective preventative maintenance program
This four-hour intensive course will provide an advanced view of the work in process schedule. Your work-in-progress is more than a reporting tool; it is a financial management tool for your construction company. From this workshop, you will gain strategies to turn unexpected profit fade and enhancements into predictable events.
After completing this course, you will be able to:
• Explain how your WIP schedule is more than just a reporting tool
• Discuss how different contract types are managed on your WIP
• Show how to account for self-performed work on your WIP without double-counting
• Discuss change orders/additional purchase orders and how they impact gross profit and revenue expectations
• Describe the role of the formal cost review process in the outcome of the WIP
• Discuss WIP analysis techniques, tips, and tricks
• Identify the impact of profit fade and fee enhancements
• Apply WIP best practices
Are you ready to learn how to analyze and improve your construction contracts? While you don't need to be a lawyer to read a contract (though you absolutely want one to) you do need to understand what you are reading.
This course will teach you how construction contract sections fit together and which clauses you need to look out for to protect your company's bottom line. After completing this course, you will be able to:
• Understand how construction contract sections fit together
• Identify terms that create risk for your company
• Propose and modify contract language to protect your company
• Select and develop standard clauses you should use
• Use your company attorney more efficiently
Every fraud has a beginning, middle and end. In this session, a former federal agent digs into the details.Speaker(s):
Today’s business environment creates many challenges for the construction financial manager (CFM). The complexity of managing and motivating all team members to achieve projects and deadlines require proven leadership principles, best practices, and techniques.
In this two-part program, you will learn the tools needed to achieve success including gaining buy-in, trust, and accountability; motivating your team; effectively communicating; staffing dynamics, and more. Participants will also have the opportunity to apply learned techniques to reality-based situations incorporating specific construction based situations and examples.
• Identify the competencies and skills required for today’s CFM
• Distinguish between the various communication styles and approaches to achieve effective outcomes • Apply the Covey’s Five Waves of Trust to increase credibility and trust as a leader
• Gain best practices for running a monthly project update meeting
• Empower and coach the team by integrating the Four E’s of Leadership
• Identify the challenges faced by today’s CFM, and the red flags and strategies to achieve success when working with various parties
• Apply proven techniques and best practices to real-case scenarios
Learn about the key data from CFMA’s Construction Industry Financial Benchmarker and how it can impact your company. Learn and share Benchmarker best practices with your conference peers, and walk away with benchmarking techniques that can help you improve your company’s financial and operational performance.