We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.

logo
  • Engineers & Specifiers
  • Contractors & Installers
  • Wholesalers & Distributors
  • Sign In
  • Create Account
  • Sign Out
  • My Account
Free Subscription
  • Sign In
  • Create Account
  • Sign Out
  • My Account
  • PRODUCTS
    • Bath & Kitchen
    • Fire Protection
    • HVAC
    • Hydronics/Radiant
    • Plumbing
    • PVF
    • Tools
  • PROJECTS
    • Commercial
    • Green Building
    • MRO/Retrofit
    • Remodeling
    • Residential
  • HOW TO
    • Design
    • Fire Protection
    • Legal Matters
    • Management
  • BUSINESS
    • Buying Groups
    • Technology
    • Associations
  • CODES & STANDARDS
    • ANSI
    • ASHRAE
    • ASSE
    • Regulations
    • Green Building
    • IAPMO
    • ICC
    • NFPA
  • RESOURCES
    • Media Kit
    • Advertise
    • Contact Us
    • Classifieds
    • Digital Editions
    • Behind the Wall
    • Webinars
    • ASPE Live 2022
  • PODCASTS
  • DIGITAL EDITIONS
Home » Viega Hosts PHCC Project Management Boot Camp

Viega Hosts PHCC Project Management Boot Camp

June 12, 2018
No Comments
Viega Hosts PHCC Project Management Boot Camp

From June 6-9, 23 plumbing and HVAC project managers dived deep into training offered by the Plumbing-Heating-Cooling Contractors — National Association’s Educational Foundation.

The Essentials of Project Management class is a boot camp that packs more than 40 hours of instruction into an intense program that teaches construction project managers the real-world impact of the decisions they make every day on their projects.

Viega hosted and sponsored the class at its Educational Facility in Nashua, New Hampshire.

In the cashflow session of the program, lead instructor Kirk Alter of Purdue University explained that account receivables for construction subcontractors typically run past three months thanks to poor billing practices and delays in payment from their customers.

These delayed payments require that the subcontractor essentially provide a short-term loan to these customers as the sub pays its bills without cash coming in to cover those costs.

“By contract, you have agreed to be a bank and loan this money for 30 days,” Alter said. “But act like one. Banks always collect when payment is due, immediately, not three or four months later. Banks do not lend money for free. You must calculate and charge for your cost of capital – how much it costs for you to provide that funding.”

Attendees left the session knowing the impacts of their project cash flow on the company’s finances, bonding capacity and on the strategic decisions being made by the subcontractor business owner.

The next offering of the Essentials of Project Management class will be March 13-16, 2019 in Northern Virginia. More details on the class can be found at http://phccfoundation.org/essentials or can be requested by calling (800) 533-7694.

Associations Best Practices Contractors & Installers Industry Community News
  • Related Articles

    PHCC Project Management Boot Camp Goes Virtual

    Stop It! Lessons From the PHCC Essentials of Project Management Class

    PHCC Project Management Class Successful

You must login or register in order to post a comment.

Report Abusive Comment

Most Popular

  • NIBCO Expands Industry Presence with Acquisition of Matco-Norca

  • Stories From the Mechanical Room Podcast: The Math Never Lies ft. Taco Comfort Solutions' John Barba

  • Newly Released Scorecard Ranks States for Water Efficiency and Sustainability Policies

  • New 3M Docuseries Showcases Need for Diverse and Meaningful Trade Careers

Featured Video

Flow aide

JC Whitlam Flow Aide Biodegradable System Descaler Kit

Industry Events

  • 04Feb

    ASHRAE Winter Conference

    Atlanta, GA
  • 06Feb

    2023 AHR Expo

    Atlanta, GA
  • 20Feb

    2023 WWETT Show

    Indianapolis , IN
More Events

Subscribe to our newsletters & stay updated

Subscribe & Learn More

  • Tw02 2023 cover
    Learn More
  • Pe02 2023 cover
    Learn More
  • Phc02 2023 cover
    Learn More
  • Es 2022
    Learn More
Subscribe

More from PHCP Pros

  • Editorial Team
  • Home
  • Contact Us
  • About
  • Advertise

Follow Us

© 2023 All Rights Reserved

Design, CMS, Hosting & Web Development | ePublishing