Catalog description: Develops students' understanding of the fundamental theories and applied principles of management of U.S. construction companies in domestic and international context. Exposes students to the present and future best practice of business management at the construction company level. Provides insight into basic construction business operations including strategic planning, organizational structure, marketing, accounting, financing, risk analysis, quality, and international construction business practice as well as some advanced principles and practices to profoundly improve medium to mega project time and project performance.
Prerequisites: Graduate Standing or (ACCT 200/MGMT 200 with minimum grade of C- and STAT 511 or STAT 350)
Course status: Required for Graduate Students, Selected elective for undergraduate Civil Engineering and Construction Engineering and Management Students.
Specific goals for the course
Student learning outcomes - Upon successful completion of this course the student shall be able to:
Apply basics of strategic planning to construction firm management, with application to project execution planning and governance for time, cost and safety control.
Analyze construction firm organizational structures and human resource functions.
Evaluate marketing and business development practices in construction.
Analyze construction company financial management practices.
Understand construction risk management, insurance, principles and planning and governance methods for market differentiating excellence in project planning, task level control, outcome, client, contractor and subcontractor success.
Relationship of course to program outcomes
Outcome 1: An ability to identify, formulate, and solve complex engineering problems by applying principles of engineering, science, and mathematics.
Outcome 3: An ability to communicate effectively with a range of audience
Outcome 4: An ability to recognize ethical and professional responsibilities in engineering situations and make informed judgements which must consider the impact of engineering solutions in global, economic, environmental and societal contexts.
Outcome 5: An ability to function effectively on a team whose members together provide leadership, create a collaborative and inclusive environment, establish goals, plan tasks and meet objectives.
Outcome 7: an ability to acquire and apply new knowledge as needed, using appropriate learning strategies.
Topics
Introduction Construction Industry and its challenges
Organizational Structure and Design for company support of medium to mega projects, domestic and international
Risk Management on domestic and international scales
Accounting systems with transparency for real-time control
Financial Statements
Financial Ratios
Construction Finances
Firm Cash Flows
Profit Center Analysis
Construction Quality, Cost, Time, Productivity and Safety Control with Aligned Management and Governance Systems
