PCCA Journal|1
st
Quarter 2013
17
she tends to excel because of the balance of risk
that a CFO brings to the organization. The type of leader who
balances risk and reward is more likely to build a success-
ful contracting business. The industry itself is mature and
loaded with competition. Some competitors in the industry
exist without a business purpose. Return on investment,
stock appreciation, and other monetary incentives are foreign
concepts to these firms. The more progressive firms today are
investing in training to build skill sets of both managers and
leaders. Coaching and development programs are focusing on
growing the next generation of these managers and leaders,
including those who aspire to become CFO.
Communicator
CFOs who excel are great communicators. Communication
skills contribute to the success of any leader or manager.
Many construction industry executives have little, if any, for-
mal training in communications. What to communicate, how
to communicate, methods of communication, confrontational
skills, negotiating skills, salesmanship, mediation skills, and
other important communication abilities are, for the most
ls learned through on-the-job training by managers
and leaders. CFOs must deal with the economic reality of the
organization. The CFO needs to be able to confront difficult
situations and follow through to gain understanding of the
economic reality. This determination of reality sometimes is
unpopular and can cause significant internal friction. “Kill
the messenger” reaction has caused the demise of more
than one CFO. There is a delicate balance between being
approachable and being susceptible to manipulation. Being
approachable is both acceptable and highly desirable in
resolving complex transactions that arise during the construc-
tion process. Allowing oneself to be manipulated by opera-
tional managers is never acceptable. Stakeholders rely on the
accuracy of the financial reporting process.
The CFO requires a high emotional quotient (EQ) for
effectiveness. People skills are some of the best and most
value-adding abilities managers and leaders have in their
arsenal. Building work groups that deal with and manage the
voluminous level of detail in the accounting process is vital
for CFOs. High turnover causes excessive cost and disruption
to the accounting process. Staffing is constantly increasing
for growing construction organizations. Methods and systems
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