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Key2Careers.net          Management Training

Financial Management for Project and Contract Managers

 

Duration: 3 Days (10 am to 5 pm with one hour lunch break)

Cost: $ 1999 + GST

Course Outline

Learn How To

  • Communicate more effectively with accounting and financial personnel
  • Read, understand and analyze accounting and financial data
  • Expand your work in project scheduling and cost control to encompass additional financial metrics and tools
  • Minimize project financial risk
  • Develop and apply tools for comparing project financial returns

 

Course Synopsis

In today's world of increasing competition and focus on corporate earnings, project and contract managers are held accountable not just for achieving technical and schedule goals, but also for meeting profitability and other financial goals. This course explores the financial metrics that are commonly used and examines the not-so-obvious financial impact of typical operating decisions and actions. Building on competencies developed in the core management curriculum, you'll examine the inner mechanics of how finance and accounting can impact your project.

You'll learn about common financial analysis tools in the project environment that link project management to broader corporate strategic goals. Case studies and projectrelated exercises give you the opportunity to apply these proven tools and techniques. You'll see how finance often drives organizational decisions and evaluations of project performance. You'll also learn how operating decisions regarding pricing, terms and conditions, and asset management directly and significantly affect the financial health of your organization.

This three-day course is so packed full of vital topics that many students refer to it as a "mini-MBA experience" and even veteran MBAs have praised it highly. Take advantage of this opportunity to get a firm grasp of the financial management issues that can affect your projects.

 

Course Topics

  1. Fundamentals of Finance
    1. Financial accounting concepts
    2. Generally accepted accounting principles
    3. Reading and understanding financial statements
    4. Financial analysis
    5. Managerial accounting
    6. Business case consideration
    7. Cost vs. revenue
    8. Profitability measures
      • ROS
      • ROA/EVA
      • ROE
      • IRR
    9. Time value of money
    10. Discounted cash flows
    11. Direct vs. indirect costs
    12. Fixed vs. variable vs. semivariable costs
    13. Break-even analysis
  2. Contract Profitability—Pricing
    1. Pricing strategy and tactics
    2. Profit planning
    3. Cost estimating
    4. Cost-based pricing
    5. Market-based pricing
    6. Value-based pricing
    7. Profit objective
      • Market structure
      • Follow-on business
      • Risk
      • Z score
  3. Asset Management—Cash is King
    1. Cash
    2. Timing of cash flows
    3. Accounts receivable
    4. Inventory
    5. Equipment
    6. Revenue recognition
    7. Financing arrangements
  4. Terms and Conditions (Ts and Cs)—Best Practices
    1. Value, cost and risk
    2. Seller-friendly Ts and Cs
    3. Unfavorable Ts and Cs
    4. Metrics to evaluate
  5. Cost Estimating—What Works Best
    1. Cost estimating methods
    2. Planning and scheduling
    3. Making sense of historical data
    4. Experience curves
    5. Relationship between cost estimating and pricing

For more information on above course, please call us at 416-926-0616 or e-mail to marketing@key2careers.net