CONST 350 Budgeting and Accounting for CM Projects (5 credits)

1. Create a construction project budget using cost accounting principles and cost control strategies in order to predict costs for a project.
2. Implement close out strategies on retainage, regulation compliance, liens, and claims associated with a construction project.
3. Create a plan to implement certified payrolls, lien releases, Minority and Women Owned Business (MWOB) participation requirements in order to maintain compliance on the construction site.
4. Apply the methods of revenue recognition such as cash, completed contract or the percentage of completion contracts and current laws of General Accepted Accounting Principles (GAAP) to a construction project budget.

• Sustainability: Assess concepts related to running sustainable projects in order to build sustainable business processes.
• Planning and Organization: Research, implement, and evaluate construction processes using project planning methods and tools.
• Communications: Compose, implement, and assess the efficacy of communications tools used in the construction industry to disseminate technical and professional business information to a diverse audience.

Core Ability

• Critical, Creative, and Reflective Thinking: Graduates will evaluate, analyze, synthesize, and generate ideas; construct informed, meaningful, and justifiable conclusions; and process feelings, beliefs, biases, strengths, and weaknesses as they relate to their thinking, decisions, and creations.