Discover why Project Managers need real-time financial analytics to excel in their roles, how it will help improve project outcomes, and what they need to know. Brian Muncy, CPA with CBIZ-Somerset and Kevin Bright with ProNovos dive into essential topics related to financial management on a construction project.
What is covered in this video:
- Learn why effective cash flow management is essential for project success;
- Understand the significance of the Work-in-Progress (WIP) report;
- Best practices for project forecasting and its impact on revenue recognition ;
- Differentiate between revenue recognition and billings;
- Explore key financial KPIs on a project such as over & under billings and visualize performance;
- How to put real-time financial analytics into the hands of a Project Manager.