CFMA recently sponsored the firstConstruction Financial Management Competitionheld in Las Vegas prior to the AGC/CFMA Annual Conference. Teams of undergraduate construction management students from Colorado State University and Auburn University attempted to solve a real-life construction financial problem, complete with an in-depth report and in-person presentation of the mock project.
Teams were required to provide a two-part technical report. Section One of the report included a financial evaluation of their firm, establishing their character, capacity, and capital strength. Section Two included the cash-flow analysis of a mock project. JE Dunn sponsored the problem statement for this competition.
A judging panel representing a wealth of industry experience and perspective was organized to score the participants’ reports in two phases. The first phase included a 90-page PDF of the two-section written report. The second phase was an in-person presentation by the team and an interview with the judging panel. Teams were given 20 minutes to present, followed by a five-minute Q&A with the judging panel. Finally, to conclude the event, a feedback session was held to help refine the process and determine best options for future years.
“I can honestly say it has been one of the best experiences I have had as a student thus far. The networking, knowledge, and skills I have learned and obtained through this event will carry on for the rest of my career as a student and beyond. Rachel Norick, CSU student
"This competition allows students to be exposed to a side of project management that really is not hit upon much in a typical construction management program. Having this opportunity allows students to gain experience and develop skills to transition into their careers after graduation.” Nicholas Raymond, CSU student
“The competition puts you in a real-life situation where construction finance is utilized. This situational approach teaches us how to resolve issues and apply critical thinking skills. As a team, we take what we learn in the classroom and amplify the content to challenge ourselves and accomplish a reputable end result.” Melanie Eoff, CSU student
Participants Colorado State University Nick Raymond, Jordan Perkins, Melanie Eoff, Rachel Norick, and John Killingsworth (Faculty Advisor) Auburn University Taylor Stubbs, Hunter Whitten, Chase Merrill, Jackson Schnell, Travis Eubanks, Jeff Kim (Faculty Advisor), and J. Mark Taylor (Faculty Advisor)
Judges John Corcoran, CICPAC Caryl Coronis, NBG Steve Lords, Arizona Pipeline Co. Gordon Marshall, Tri-City Property Management Services, Inc. Joel Pennick, JE Dunn Construction Company Melanie Tucker, JE Dunn Construction Company
If you are interested in finding out more about the competition or how to get involved in future student competitions, please e-mail Brian Summers email@example.com.