Finance for Project Managers Course
Managing the financial side of projects
The Finance for Project Managers course helps project professionals understand the financial information they need when planning, managing and controlling projects.
Participants will develop their understanding of project costs, budgets and financial terminology and consider how financial information can support decisions throughout the project lifecycle.
Improve financial control and decision-making
Effective project management requires an understanding of how decisions about resources, timescales and scope can affect project costs. Participants will consider how actual expenditure can be monitored against plans and how financial information can help identify potential issues.
The course is designed for project managers and other project professionals rather than accountants. Its emphasis is on providing practical financial knowledge that can help participants manage budgets more confidently and communicate effectively with finance teams, sponsors and other stakeholders.
Course Schedule
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Course Aims:
The "Finance for Project Managers" one-day course aims to empower project managers with the essential financial knowledge and skills needed to proficiently manage project finances, make informed financial decisions, and contribute effectively to project success within their organizations.
Course Pre-requisites:
Participants should have a basic understanding of project management principles and practices. No prior financial knowledge is required.
Course Objectives:
Upon completion of this course, participants will be able to:
1. Comprehend fundamental financial concepts relevant to project management.
2. Analyze project budgets and financial statements effectively.
3. Make well-informed financial decisions to optimize project performance.
4. Recognize and mitigate financial risks in projects.
5. Communicate with financial stakeholders in a clear and concise manner.
Course Content:
Module 1: Introduction to Finance for Project Managers
- Exploring the role of finance in project management
- Key financial terminology and principles
Module 2: Project Budgeting
- Creating project budgets
- Techniques for cost estimation
- Monitoring and controlling project budgets
Module 3: Financial Statements and Reports
- Interpreting financial statements (Income Statement, Balance Sheet, Cash Flow Statement)
- Project financial reporting essentials
Module 4: Financial Decision-Making
- Assessing project financial viability
- Capital budgeting techniques (NPV, IRR, Payback Period)
- Cost-Benefit Analysis (CBA) for projects
Module 5: Risk Management and Finance
- Identifying financial risks in projects
- Strategies for mitigating financial risks
- Developing contingency plans
Module 6: Communication with Financial Stakeholders
- Effective communication with finance professionals
- Presenting project financial information convincingly
- Handling financial inquiries and concerns adeptly
Module 7: Case Studies and Practical Exercises
- Real-world project finance scenarios
- Hands-on budgeting and financial analysis exercises
- Group discussions and collaborative problem-solving activities
Module 8: Course Wrap-Up and Next Steps
- Recap of key takeaways
- Action plan for applying financial knowledge to future projects
- Access to supplementary resources for ongoing learning
Public Schedule
Private Virtual Training (Teams / Zoom)
Contact us for pricing
Private Onsite Training (at your offices)
Contact us for pricing
Note
All prices exclude VAT at 20%.
VAT registration number: 450 4347 14
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