RedVector JCOM-00171

AEC Project Management: Financial Management & Budgeting

AEC Project Management: Financial Management & Budgeting

1 hr. Online Course

Level: Intermediate

Item#: JCOM-00171

SME: Alfredo Cely, P.E., MSEM

This course is designed for project managers, aspiring project managers, architects, engineers, construction professionals, and others responsible for winning and delivering AEC work. It focuses on the project manager’s role as the owner of project financial performance and explores how day-to-day decisions affect project profitability, cash flow, and the financial health of the firm.

Learners will examine key AEC financial concepts, project budgeting, financial monitoring, billing and cash flow, profitability, financial risk, scope changes, and financial reporting. The course emphasizes continuous monitoring, early identification of variances and risks, clear communication, and timely corrective action. Learners will also explore how project-level financial performance contributes to firm profitability and sustainability and how financial lessons from completed projects can improve future budgeting and planning.
Course Objectives

By the end of this course, you will be able to:

  • Explain the project manager's role and accountability for project financial performance
  • Describe key AEC financial concepts, including cost, fee, revenue, budget, profit, margin, utilization, write-offs, and contract type
  • Develop a project budget aligned with scope, schedule, resources, and project management requirements
  • Explain how continuous financial monitoring, variance analysis, and earned value help identify emerging project risks
  • Describe the project manager's role in managing billing, collections, retainage, and cash flow
  • Identify key drivers of project profitability and strategies for protecting margin through effective staffing, scope management, and efficiency
  • Recognize financial risks and explain how scope changes should be managed through timely communication and the change order process
  • Interpret and communicate project financial performance to support timely decisions and improve future budgeting and business performance
SUBJECT MATTER EXPERT: Alfredo Cely, P.E., MSEM
Alfredo Cely, P.E., MSEM Photo

Alfredo is a Civil Engineer that has managed Transportation, Land Development, Water Resources and Aviation projects from planning to construction for the past 14 years. Most recently his consulting work has focused on assisting state and local agencies in improving the safety of our transportation network. He has been responsible for several multi-modal transportation projects in the Tampa Bay Area, throughout the U.S. and abroad. He is a licensed Civil Engineer in Florida, North Carolina, and Ecuador.

 

At the University of South Florida, Alfredo serves as an instructor for the Transportation sections of the P.E. Preparation Courses hosted by the American Society of Civil Engineers’ (ASCE) Student Chapter. Alfredo is a member of ASCE’s Street and Highway Operations Committee and is an associate member of the Aviation Planning and Operations Committee. At the national level, Alfredo helps several of the Transportation Research Board Committees and is currently involved in the following committees: Low Volume Roads; Hydrology, Hydraulics and Water Quality; Pedestrian Safety; and Bicycle Transportation.

 

Alfredo served as the Chair of the local ASCE Transportation and Development Institute group during its first two years (2012-2014). The Florida West Coast Chapter of the ASCE has recognized Alfredo’s commitment to the profession and our community honoring him with the Young Engineer of the Year Award in 2014. As part of his involvement with the local engineering community, Alfredo currently serves as a Board Member of the Florida West Coast Branch for ASCE.

State Licenses
AK - Engineer (General)
AL - Engineer (General)
AL - Landscape Architect (General - Approved LA CES-2028)
AR - Engineer (General)
DE - Engineer (General)
FL - Engineer (General - 0000271)
Accreditation: This course prepares AEC project managers to own project financial performance, covering budgeting, financial monitoring, billing and cash flow, profitability, financial risk, scope changes, and reporting. It emphasizes continuous monitoring, early identification of variances, clear communication, and timely corrective action, showing how project-level results drive firm profitability and inform future planning.
GA - Engineer (General)
GA - Landscape Architect (General - Approved LA CES-2028)
IA - Engineer (General)
ID - Engineer (General)
IL - Engineer, Professional (General)
IL - Engineer, Structural (General)
IL - Landscape Architect (General - Approved LA CES-2028)
IN - Landscape Architect (General - Approved LA CES-2028)
KS - Engineer (Health, Safety & Welfare)
KS - Landscape Architect (General - Approved LA CES-2028)
KY - Engineer (General)
LA - Engineer (General)
LA - Landscape Architect (General - Approved LA CES-2028)
MD - Engineer (General)
MD - Landscape Architect (General - Approved LA CES-2028)
ME - Engineer (General)
MI - Engineer (General)
MI - Landscape Architect (General - Approved LA CES-2028)
MN - Engineer (General)
MO - Engineer (General)
MO - Landscape Architect (General - Approved LA CES-2028)
MS - Engineer (General)
MT - Engineer (General)
NC - Engineer (General)
ND - Engineer (Health, Safety & Welfare)
NE - Engineer (General)
Accreditation: Vector Solutions is authorized by IACET to offer 0.1 CEUs for this program.
NE - Landscape Architect (General - Approved LA CES-2028)
NH - Engineer (General)
NJ - Engineer (General - 24GP000006300)
NM - Engineer (General)
NM - Landscape Architect (General - Approved LA CES-2028)
NV - Engineer (General)
NY - Engineer (General)
Accreditation: Vector Solutions is authorized by IACET to offer 0.1 CEUs for this program.
NY - Landscape Architect (General - Approved LA CES-2028)
OH - Engineer (General)
OH - Landscape Architect (General - Approved LA CES-2028)
OK - Engineer (General)
OR - Engineer (General)
OR - Landscape Architect (General - Approved LA CES-2028)
PA - Engineer (General)
PA - Landscape Architect (General - Approved LA CES-2028)
PR - Engineer (General)
SC - Engineer (General)
SD - Engineer (General)
SD - Landscape Architect (General - Approved LA CES-2028)
TN - Engineer (Health, Safety & Welfare)
TN - Landscape Architect (General - Approved LA CES-2028)
TX - Engineer (General)
UT - Engineer (General)
VA - Engineer (General)
VA - Landscape Architect (General - Approved LA CES-2028)
VT - Engineer (General)
WA - Landscape Architect (General - Approved LA CES-2028)
WI - Engineer (General)
WV - Engineer (General)
WV - Landscape Architect (General (max 6 hrs online) - Approved LA CES-2028)
WY - Engineer (General)
Professional Organizations
American Academy of Environmental Engineers - AAEES - Member (General)
American Hospital Association - AHA - Certified Healthcare Constructor (CHC) (General)
American Hospital Association - AHA - Certified Healthcare Facility Manager (CHFM) (General)
American Institute of Constructors - AIC - Professional Constructor (General)
American Society of Landscape Architects (LA CES) - ASLA - Member (General - Approved LA CES-2028)
Association for Facilities Engineering - AFE - Certification (General)
BOMI International - RPA, FMA and/or SMA (General)
Canada - Alberta Engineer (General)
Canada - British Columbia Engineer (General)
Canada - Manitoba Engineer (General)
Canada - New Brunswick Engineer (General)
Canada - Newfoundland and Labrador Engineer (General)
Canada - Northwest Territories and Nunavut Engineer (General)
Canada - Nova Scotia Engineer (General)
Canada - Ontario Engineer (General)
Canada - Prince Edward Island Engineer (General)
Canada - Quebec Engineer (General)
Canada - Saskatchewan Engineer (General)
Canada - Yukon Engineer (General)
Construction Management Association of America - CMAA - (CCM, CACM) (General)
Green Business Certification Inc. - GBCI - LEED Accredited Professional (AP BD+C) (General)
Green Business Certification Inc. - GBCI - LEED Accredited Professional (AP Homes) (General)
Green Business Certification Inc. - GBCI - LEED Accredited Professional (AP ID+C) (General)
Green Business Certification Inc. - GBCI - LEED Accredited Professional (AP ND) (General)
Green Business Certification Inc. - GBCI - LEED Accredited Professional (AP O+M) (General)
Green Business Certification Inc. - GBCI - LEED Green Associate (GA) (General)
Green Business Certification Inc. - GBCI - WELL Accredited Professional (AP) (General)
International Facility Management Association - IFMA - Certified Facility Manager (CFM) (General)
National Institute for Certification in Engineering Technologies - NICET (General)
Project Management Institute (PMI) - Certified Associate in Project Management (CAPM) (Business Acumen - 1510TAPFGA)
Accreditation: Authorized Training Partner 1510
Project Management Institute (PMI) - PMI Agile Certified Practitioner (PMI-ACP) (Business Acumen - 1510TAPFGA)
Accreditation: Authorized Training Partner 1510
Project Management Institute (PMI) - PMI Professional in Business Analysis (PMI-PBA) (Business Acumen - 1510TAPFGA)
Accreditation: Authorized Training Partner 1510
Project Management Institute (PMI) - PMI Risk Management Professional (PMI-RMP) (Business Acumen - 1510TAPFGA)
Accreditation: Authorized Training Partner 1510
Project Management Institute (PMI) - PMI Scheduling Professional (PMI-SP) (Business Acumen - 1510TAPFGA)
Accreditation: Authorized Training Partner 1510
Project Management Institute (PMI) - Portfolio Management Professional (PfMP) (Business Acumen - 1510TAPFGA)
Accreditation: Authorized Training Partner 1510
Project Management Institute (PMI) - Program Management Professional (PgMP) (Business Acumen - 1510TAPFGA)
Accreditation: Authorized Training Partner 1510
Project Management Institute (PMI) - Project Management Professional (PMP) (Business Acumen - 1510TAPFGA)
Accreditation: Authorized Training Partner 1510