Finance for Project Managers

Overview

Financial decisions made by senior managers are often dependent on the data provided by project managers. The extent and timing of predicted costs and income are critical in cash flow management as is the accurate reporting of variance and predicted consequences. This course allows the project manager to see the story from the accountants’ perspective and highlights the importance of good planning and reporting in running a successful organisation.

Prerequisites

This course is aimed at project managers and/or support staff that need to have a thorough grounding in financial management and the provision of financial information (reporting) on projects.

Delegates will learn how to

• Assess financial stability, profitability and productivity by preparing and analysing profit and loss accounts and balance sheets
• Develop forecasts and monitor and control costs on projects
• Appreciate cash-flow and profit and how they are managed
• Differentiate between types of costs and costing methods
• State the principles of Value Management and Through Life Costing
• Assess the economic viability and commercial profitability of projects through investment appraisal

Course Outline.

• Legal framework and fundamental accounting principles
• The balance sheet and profit and loss account
• Costs and types of costing
• Through life costing
• Budgeting, monitoring and cost control
• Value management
• Key financial ratios and investment appraisal