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Construction Extension to the PMBOK® Guide by Project Management Institute

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15

PROJECT FINANCIAL MANAGEMENT

Project Financial Management determines how the project will be financed, including the processes to acquire and manage the financial resources for the project. It is more concerned with revenue sources and monitoring net cash flows for the construction project than with managing day-to-day costs. While construction professionals are skilled in the technical side of their work, they often lack financial management knowledge and understanding. Research has shown that project managers in construction need to know financial management fundamentals in order to better understand and navigate the financial decisions that are part of every construction project. This section presents important considerations on financial ...

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