Procept courses accredited by the CCA for Gold Seal certification credits

Financial and Basic Accounting Principles for Project Managers

Financial and Basic Accounting Principles for Project Managers

This 2-day course provides participants with information and tools on how to get a better handle on the important area of financial management.

The course addresses financial related concepts and techniques to effectively manage projects and programs, as well as providing a foundation for understanding corporate finance and basic accounting principles.

The course covers techniques related to project reporting and decision-making process, as well as financial indicators and corporate financial reports.

LEARNING OBJECTIVES

By the end of the session, participants will be able to:

  • Articulate to stakeholders the financial status of the project
  • Explain aspects of corporate accounting
  • Gain focus on and maintain control over project estimates, profitability and performance
  • Show the connection between corporate finances and the impact on projects
  • Analyze the financial aspects of projects
  • Make informed decision with respect to pricing, contract, progress and project risk management
  • Use financial information within a project environment to predict and influence the final results
  • Recognize the project manager’s financial responsibilities

 

WHO SHOULD ATTEND

Project managers, project practitioners, anyone taking part in managing budgets as well as those who seek to improve their knowledge of basic accounting and financial concepts.

PREREQUISITE

There is no prerequisite for this course. It functions as a stand-alone course.

MATERIALS

You will receive a course binder.

WHAT YOU WILL LEARN

Introduction and Overview

  • Benefits of project management
  • Project contracting and procurement
  • Key terms
  • Financial cycles

 

Project Accounting and Financial Basics

  • Determine project’s financial needs
  • Roles and responsibilities
  • Financial statements and balance sheets
  • Income statement, revenues and expenses
  • Cash flow statement
  • Basic accounting
  • Depreciation

 

Financial Justification and the Project Business Case

  • Portfolio management: aligning strategy and projects
  • Project decision points and gating
  • The project business case

 

Measure, Control and Forecast - Financial and Profitability Measurements

  • Financial principles and common financial metrics
  • Review of purposes, measurements and sentiments

 

Applying Finance and Accounting Principles to Project Management (including a review of Earned Value Management)

  • Project cost estimates and forecasting
  • Measuring project performance
  • Project financial performance and profitability
  • Status reports
  • Earned value management

 

Recap