ERP for Construction: Project-Centric Financials Training Course

ERP for Construction: Project-Centric Financials Training Course

ERP for Construction: Project-Centric Financials Training Course is specifically designed to equip construction and finance professionals with the essential skills to effectively leverage Enterprise Resource Planning systems for robust project-centric financial management. In the modern construction industry, characterized by complex projects, tight margins, and demanding regulatory environments, traditional accounting methods are insufficient. This course moves beyond generic financial training to focus on the unique integration of project execution with real-time financial control, utilizing the power of a modern ERP.

The curriculum covers critical areas from job costing and cost-value reconciliation to cash flow forecasting and contract compliance. Participants will master the art of transforming raw project data into actionable financial insights, driving profitability and mitigating the high-stakes risks associated with project overruns. By the end of this intensive program, attendees will not only understand the system mechanics but will be prepared to champion their firm's transition to a digitally integrated, financially transparent, and highly efficient construction operation.

Course Duration

5 days

Course Objectives

Upon completion of this course, participants will be able to:

1. Master Real-Time Job Costing and variance analysis within the ERP environment.
2. Implement and manage effective Cost-Value Reconciliation (CVR) processes for accurate margin tracking.
3. Configure ERP modules for compliant Construction Contract Management
4. Develop reliable Project Cash Flow Forecasting models and liquidity management strategies.
5. Automate Progress Billing and Subcontractor Payment workflows to optimize working capital.
6. Analyze Earned Value Management (EVM) metrics for proactive project performance insights.
7. Ensure financial data integrity and compliance for Construction Industry Accounting Standards.
8. Utilize Mobile Field Integration features for instant financial data capture
9. Generate insightful Financial Dashboards and custom reports for executive decision-making.
10. Manage Change Orders and variations financially to prevent scope-creep and revenue leakage.
11. Perform multi-entity and Multi-Project Consolidation for portfolio financial reporting.
12. Leverage ERP-integrated Supply Chain Finance tools for procurement optimization.
13. Drive Digital Transformation in construction finance by championing ERP best practices.

Target Audience

1. Project Accountants & Controllers.
2. Project Managers.
3. Construction Financial Analysts.
4. ERP System Administrators.
5. Senior Finance Leadership.
6. Cost Estimators & Engineers.
7. Procurement & Supply Chain Managers.
8. Internal Audit & Compliance Teams.

Course Modules

Module 1: ERP Foundation for Construction Financials

• Understanding the Single Source of Truth for project data.
• Mapping construction workflows to core ERP financial modules.
• Setting up the project cost breakdown structure (CBS) and chart of accounts.
• User roles, permissions, and security in a financial ERP environment.
• Case Study: The Data Silo Elimination.

Module 2: Advanced Job Costing & Budget Control

• Configuring Activity-Based Costing for construction resources
• Automating commitment tracking.
• Real-time comparison of budget and actuals with threshold alerts.
• Managing overhead allocation and indirect project costs.
• Case Study: Controlling the Overrun.

Module 3: Cost-Value Reconciliation (CVR) and Profitability

• Executing the monthly/quarterly CVR cycle within the ERP.
• Analyzing project completion forecasts and recognizing revenue.
• Setting up retention and holdback tracking for both payables and receivables.
• Reporting true project margins using granular cost and value data.
• Case Study: The Margin Savior

Module 4: Billing, Revenue Recognition & Cash Flow

• Automating AIA/G702 & G703 Progress Billing procedures.
• Setting up compliant Percentage of Completion (POC) revenue recognition.
• Managing subcontractor application for payment and lien waivers.
• Utilizing ERP tools for 13-Week Cash Flow Forecasting.
• Case Study: Liquidity Optimization

Module 5: Procurement & Supply Chain Finance Integration

• Integrating requisitions, POs, and accounts payable in one workflow.
• Financial tracking of equipment usage, depreciation, and inter-project transfers.
• Managing vendor compliance and insurance documentation linked to payments.
• Automating 3-Way Match for invoice processing.
• Case Study: The Procurement Leak Fix

Module 6: Financial Compliance and Auditing

• Configuring internal controls and segregation of duties within the ERP.
• Generating required financial statements and regulatory reports.
• Handling complex tax rules by project location.
• Utilizing the ERP audit trail for internal and external financial review.
• Case Study: The Clean Audit

Module 7: Advanced Analytics and Business Intelligence

• Building custom Project Performance Dashboards
• Using built-in BI tools for ad-hoc financial query and drill-down.
• Creating a Standardized Reporting Pack for monthly financial reviews.
• Leveraging Predictive Analytics for risk management and future financial forecasting.
• Case Study: The Predictive Edge

Module 8: Change Management and System Adoption

• Best practices for user training, acceptance testing, and data migration.
• Developing internal ERP training materials and champion programs.
• Troubleshooting common financial and workflow issues post-go-live.
• Focusing on continuous improvement and feature adoption
• Case Study: Smooth Go-Live

Training Methodology

This course employs a participatory and hands-on approach to ensure practical learning, including:

• Interactive lectures and presentations.
• Group discussions and brainstorming sessions.
• Hands-on exercises using real-world datasets.
• Role-playing and scenario-based simulations.
• Analysis of case studies to bridge theory and practice.
• Peer-to-peer learning and networking.
• Expert-led Q&A sessions.
• Continuous feedback and personalized guidance.

Register as a group from 3 participants for a Discount

Send us an email: info@datastatresearch.org or call +254724527104 

Certification

Upon successful completion of this training, participants will be issued with a globally- recognized certificate.

Tailor-Made Course

 We also offer tailor-made courses based on your needs.

Key Notes

a. The participant must be conversant with English.

b. Upon completion of training the participant will be issued with an Authorized Training Certificate

c. Course duration is flexible and the contents can be modified to fit any number of days.

d. The course fee includes facilitation training materials, 2 coffee breaks, buffet lunch and A Certificate upon successful completion of Training.

e. One-year post-training support Consultation and Coaching provided after the course.

f. Payment should be done at least a week before commence of the training, to DATASTAT CONSULTANCY LTD account, as indicated in the invoice so as to enable us prepare better for you.