Financial and Basic Accounting Principles for Project Manager

Course Description:

This course provides participants with information and tools on how to get a better handle on the important area of financial management. The course addresses finance-related concepts and techniques to effectively manage projects and programs. The course also provides understanding about corporate finance and basic accounting principles. The course covers techniques related to project reporting and decision making process, as well as financial indicators and corporate financial reports.

Learning Objectives:

At the end of this course, you will be able to:

Articulate to stakeholders the financial status of the project

Explain aspects of corporate accounting

Gain focus on and maintain control over project estimates, profitability and performance

Show the connection between corporate finances and the impact on projects

Analyze the financial aspects of projects

Make informed decision with respect to pricing, contract, progress and project risks

Use financial information within a project environment to predict/influence final results

Recognize the project manager’s financial responsibilities.

Agenda:Introduction and OverviewBenefits of project management

Project contracting and procurement

Key terms

Financial cycles

Project Accounting and Financial BasicsDetermine project’s financial needs

Roles and responsibilities

Financial statements and balance sheets

Income statement, revenues and expenses

Cash flow statement

Basic accounting

Depreciation

Financial Justification and the Project Business Case

Portfolio management: aligning strategy and projects

Project decision points and gating

The project business case

Measure, Control and Forecast – Financial and Profitability Measurements

Financial principles and common financial metrics

Review of purposes, measurements and sentiments

Applying Finance and Accounting Principles to Project Management (including a review of Earned Value Management)Project cost estimates and forecasting

Measuring project performance

Project financial performance and profitability

Status reports

Earned value management.

Certificate:

Once after the training we will provide you the course completion certificate.

Who can attend?

Project Managers

Project practitioners

Individuals taking part in managing budgets

Individuals who seek to improve their knowledge of basic accounting and financial concepts