Finance for Project Managers

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.

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Course Pre-requisites:

Participants should have a basic understanding of project management principles and practices. No prior financial knowledge is required.

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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.

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Course Content:

Module 1: Introduction to Finance for Project Managers

- Exploring the role of finance in project management

- Key financial terminology and principles

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Module 2: Project Budgeting

- Creating project budgets

- Techniques for cost estimation

- Monitoring and controlling project budgets

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Module 3: Financial Statements and Reports

- Interpreting financial statements (Income Statement, Balance Sheet, Cash Flow Statement)

- Project financial reporting essentials

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Module 4: Financial Decision-Making

- Assessing project financial viability

- Capital budgeting techniques (NPV, IRR, Payback Period)

- Cost-Benefit Analysis (CBA) for projects

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Module 5: Risk Management and Finance

- Identifying financial risks in projects

- Strategies for mitigating financial risks

- Developing contingency plans

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Module 6: Communication with Financial Stakeholders

- Effective communication with finance professionals

- Presenting project financial information convincingly

- Handling financial inquiries and concerns adeptly

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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

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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

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