PCCA Journal|1
st
Quarter 2013
18
for all types of communication require constant attention to
enhance sharing of information. Little, if any, time and fewer
resources are devoted to this important aspect of operations.
The challenge becomes just keeping up with one’s day job,
let alone any time for leadership messages and sharing of
direction so important in organizational growth and develop-
ment.
Customer Service Manager
Customer service for CFOs is easier than it appears. The
right questions are “Who are my customers?” and “What are
their needs?” CFOs who are effective have answers to both
questions and are responsive to internal and external users of
financial information. Constantly seeking input from the us-
ers allows the CFO to adjust reporting practices, systems, and
procedures to accommodate the users. CFOs who monitor
and measure their success on delivery and customer satis-
faction find increased satisfaction in the roles they play in
organizational success.
As with any service, technology changes, rule and regula-
tion changes, growth, and a number of other external factors
can alter the customer service component of the business
to its end users. CFOs who keep flexible and stay on top of
market developments always have an easier time adjusting to
changing market conditions. The inflexible manager who has
done things the same way for the past 30 years will find his
or her service and relevance in the modern contracting firm
of little value.
The CFO who views the CEO as his or her only customer
worth servicing is providing both a disservice to that CEO
and a liability to the organization at large. Such a view
generally comes coupled with a corollary of “Catch ’em do-
ing bad,” when it comes to the operational managers of the
company. That CFO is emphasizing ambush rather than arm-
ing the company’s managers to work more effectively. Such a
CFO would do well to take an extended course in the “Leader
as Servant” philosophy—or find other work.
Educator and Trainer
CFOs who can paint clear pictures of the financial picture
and communicate financial performance to nonfinancial
managers are valuable assets. Accountants have their own
unique language that all accounting types understand. The
issue is that the accountant’s language is not user-friendly
to the nonfinancial manager. Course after course has been
presented on financial management for the nonfinan-
cial manager with limited success. What is needed is the
customer-service approach mentioned earlier to present
financial information in ways those nonfinancial managers
understand. The financial people in the organization should
take responsibility for educating the operations personnel on
financial reporting for contracts as it relates to their role in
project management. Over time, the balance of training and
educating users creates a consistent understanding of finan-
cial practices in the contracting organization. As important as
the concept is, few, if any, project personnel receive sufficient
training from colleges and universities on financial reporting
practices for contractors. With technology, graphics allow
financial departments the ability to “paint the picture” for the
operations personnel. The better the understanding, the more
effective the systems and decisions that support excellent
financial management practices will be in the end.
Technology Innovator
Technology comes at a high cost, but not having the proper
technology and supporting structure drives up the cost of
doing business substantially. Because of the dollars in-
volved, the CFO typically has substantial input, if not final
authorization authority, over the selection of an IT system
or determination if an IT system needs replacement. As with
most aspects of the construction industry, IT decisions are
important elements of sound risk management. CFOs must
understand the risks, whether they result from within the
company or from outside sources. Internal risks consist of
company culture, technological sophistication of personnel,
system selection, implementation, training, and support as
well as the suitability of hardware infrastructure expected
to accomplish tasks. External risks consist of natural disas-
ters, external service providers, malicious attacks, and other
threats beyond the company’s control.
Common risk management and mitigation approaches,
such as risk-cascade modeling, heat mapping, and scenario
planning, among others, can be used to identify risks, evalu-
ate the likelihood of occurrence, and consider the significance
of the consequences. These techniques place the focus of ef-
forts on the highest value targets. Decisions such as the level
of internal administration versus outsourcing; cloud comput-
ing versus internal data management; document management
solution alternatives; and tasks, such as developing a disaster
recovery plan, are all products of appropriate analysis.
Legal Compliance Officer
CFOs are part-time lawyers. Laws of some jurisdictions, if
not multiple jurisdictions, affect almost any action taken by
CFO Feature
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