Webinar: CFMA Financial Benchmarker: Practical Applications of the CFMA Financial Benchmarker and COVID-19 Impact Survey

Many financial professionals in the Construction Industry utilize financial data of our peers to measure the performance and overall financial health of our Company.  By benchmarking our company’s performance, we identify potential areas of improvement to take our Company to the next level; however, the next question often is, “Where do we go from here?”.  Through a panel discussion of industry experts and users of the financial data, we can brainstorm next steps and formulate a plan to boost your Company performance through using the Financial Benchmarker data. 

This year has seen unprecedented upheaval to the U.S. economy because of the COVID-19.  Its impact has rippled across the country, and no sector was spared, including the construction industry.  CFMA conducted a short survey to help understand the effects of COVID-19 on the construction industry, such as business curtailment, workforce layoffs, backlog, and participation in federal assistance programs (PPP).  CFMA gathered information from construction companies as well as companies and consultants that support the industry (e.g., CPA’s, Bankers, Sureties, etc.).   The second half of this session will share the results of the survey, as we discuss observations/trends in the industry based on the data presented. 

 Learning Objectives:

• Demonstrate how to use the Financial Benchmarker to compare to your Company’s data
• Learn what the next steps you should take after problem areas are identified
• Communicate the results of the COVID-19 Impact Survey and discussion

Speaker(s):
Steve Freinberg – Clearview Group, LLC and Co-chair of the CFMA Financial Benchmarker Committee
John Killingsworth, Colorado State University

Bio: John Killingsworth is a faculty member at Colorado State University and specializes construction finance, economics, and accounting.  John has published several articles in Building Profits and presented last year at the CFMA Annual Conference and Exhibition.  He serves on the CFMA Benchmarker committee and has helped develop and administer the survey regarding the impacts of COVID on the industry, and most recently the survey on managerial strategies in economic recession. He has been teaching in construction management programs for 10 years and spent 16 years in the industry in project management.

ABC Greater Baltimore & CFMA members only.