• To provide practicing Project Managers with appropriate Financial Skills and to improve confidence in terminology and basic financial management.

• To equip project managers with the necessary financial skills and tools to successfully evaluate the impact of a project on an organisation's profitability and cash flow viability. 
• To enhance the confidence of project managers in administering the critical area of financial planning and assessment.
• To enable project managers to liaise effectively with their Finance Department in a credible manner that fosters greater team spirit and commitment to the goals of the organisation.
• To promote a thorough understanding of the basics of financial management in a clear, concise, 'jargon' free and plain English fashion!

Budgets

 

• The need for financial planning
• Financial terminology and concepts - accruals, depreciation, prudence, consistency
• Nature of uses of budgets
• The budgeting process
• Types of budget - profit and loss, cash flow forecast, balance sheet projections
• Compiling budgets
• Monitoring and review procedure

 

Income and Expenditure

 

• Revenue versus capital expenditure
• Cost behaviour - fixed and variable costs
• Costing - methods of apportionment (absorption/marginal)

 

Analytical Tools

 

• Break even point
• Variance analysis

 

Core Financial Measurements

 

• Payback Calculation Method
• Net Present Value (NPV)
• Discounted Cash Flow (DCF)
• Internal Rate of Return (IRR)
• Return on Capital Employed (ROCE)