“There is nothing more difficult to take in hand, more perilous to conduct, or more uncertain in its success, than to take the lead in the introduction of a new order of things.” Machiavelli’s thoughts on project management 500 years are equally relevant to anybody involved delivering high value complex projects today. And when the pressure is on capital funding project managers will increasingly find that they need a good understanding of the financial aspects of project management to cope with the responsibilities placed upon them to deliver value for money. This intensive course provides the opportunity to cover the key financial aspects of project management and apply them to successful project management.
At the end of the course delegates will:
- Understand, analyze and interpret financial statements and use them as tools in assessing the financial strength of project proposals;
- Understand the vital difference between profit and cashflow and how they provide two yardsticks for successful project delivery;
- Master the key financial principles of planning and delivering a successful and profitable project
- Accounting principles and financial statements
- Measuring project performance objectives
- Working capital management and cashflow improvement
- Project financial basics
- Project financial appraisal techniques
- Public and government sector project approval methods
- Capital allocation methods for competing projects
- Common methods for financial evaluation of projects
- Return on investment (ROI) approach and payback method
- Net present value (NPV) and discounted cashflow (DCF) techniques
- Preparing winning project bids and proposals
- Project budgeting and contingency funds
- Using Work Breakdown Schedules for accurate forecasting
- Effective pricing and discounting methods
- Managing project cashflow with milestone payments
- Monitoring and controlling project costs
- Principles of effective project cost management and control
- Identifying the cause of project overspends and maintaining financial targets
- Managing Risk
- Understanding the nature and cause of risk
- Developing effective financial risk management systems
Our mission is the development of potentials in individuals and organizations in emerging economies. We believe that economies develop when entities within it are performing to their highest potential.
People matter to us. We are committed to understanding our clients so that we can serve them better. Our ultimate goal is to foster mutually beneficial longterm relationships with each of our clients that is built on trust.
Our faculty members are experts within their fields, and are supported by a network of dynamic back-office staff. We actively encourage collaboration and knowledge sharing, recognizing that winning ideas come from collaborative thinking. With the wealth of knowledge within our teams and our collaborative ethos, we create an atmosphere that is conducive to learning for all our delegates.