Introduction
With increasing competition and focus on corporate earnings, project and contract managers are held accountable, not just for achieving technical and scheduling goals, but also for meeting profitability targets and other cost-related measures.
This training session explores the financial metrics that are commonly used and also examines the less frequently thought of the financial impact of typical operating decisions and actions. Building on your competencies, you will examine the inner mechanics of how finance and accounting can impact your project.
Course Objectives of Financial Management for Projects & Contracts
- Communicate more effectively with accounting and financial personnel
- Read, understand, and analyze accounting and financial data
- Expand your work in project scheduling and cost control to encompass additional financial metrics and tools
- Minimize project financial risk
- Develop and apply tools for comparing project financial returns
- Understand how finance often drives organizational decisions and evaluations of project performance.
Course Summary of Financial Management for Projects & Contracts
Learn about common financial analysis tools in the project environment that link project management to broader corporate strategic goals. Case studies and project-related exercises give you the opportunity to apply these proven tools and techniques.
Learn how the financial health of your organization can be significantly affected by operating decisions regarding pricing as well as terms and conditions and asset management.
Course Outlines of Financial Management for Projects & Contracts
DAY 1 - Fundamentals of Finance
- Financial accounting concepts
- Generally accepted accounting principles
- Reading and understanding financial statements
- Financial analysis
- Managerial accounting
- Business case consideration
- Cost vs. revenue
- Profitability measures
- ROS
- ROA/EVA
- ROE
- IRR
- Time value of money
- Discounted cash flows
- Direct vs. indirect costs
- Fixed vs. variable vs. semi-variable costs
- Break-even analysis
DAY 2 - Contract Profitability - Pricing
- Pricing strategy and tactics
- Profit planning
- Cost estimating
- Cost-based pricing
- Market-based pricing
- Value-based pricing
- Profit objective
- Market structure
- Follow-on business
- Risk
- Z score
- Market structure
- Follow-on business
- Risk
- Z score #
DAY 3 - Asset Management - Cash is King
- Cash
- Timing of cash flows
- Accounts receivable
- Inventory
- Equipment
- Revenue recognition
- Financing arrangements
DAY 4 Terms & Conditions (Ts & Cs) - Best Prices
- Value, cost, and risk
- Asset-friendly Ts and Cs
- Unfavorable Ts and Cs
- Metrics to evaluate
DAY 5 - Cost Estimating What Works Best
- Cost estimating methods
- Planning and scheduling
- Making sense of historical data
- Experience curves
- Relationship between cost estimating and pricing
About London
The UK capital of London is a city that combines the old and the new. It is as equally famous for the latest fashion and innovation as it is for its impressive heritage. London's attractions range from the Royal Palace to the DIY atmosphere of its markets. It is also a picturesque city of parks and of course, the majestic Thames River. The city extends for miles beyond its ancient core and each neighborhood has its own charming atmosphere for visitors to explore. London also wears its status as a world city proudly and the influence of different cultures is plain to see in the food and fashion of the capital.
Things to do and places to visit in London
With so many attractions in London, anyone can find something to delight them. Art lovers will enjoy the world-renowned museums and galleries, most of which are free. Sports fans are spoilt for choice by the city's array of football clubs. Theatre and music fans have a vast list of venues to visit, whilst shopaholics have Harrods, Oxford Street, Camden and much more to look forward to after arranging flights to London.
Some unmissable London attractions include:
- Seeing priceless masterpieces in the Tate Britain or the National Gallery.
- Watching the changing of the guard at Buckingham Palace.
- Visiting Trafalgar Square's famous monument.
- Marveling at the Crown Jewels in the Tower of London.
- Getting a bird's eye view of the city from the London Eye.
- Tasting one of Brick Lane's famous curries.
- Browsing the exclusive shops of Knightsbridge.
- Visiting a market – Spitalfields for antiques, Camden for clothes or Borough Market for street food.
- Admiring design from around the world in the Victoria and Albert Museum.
- Looking for clues at the home of fiction's most famous detective, Sherlock Holmes.
- Strolling through one of the lovely parks, including Hyde Park, St James' Park or Kew Gardens.
- Eating Britain's most famous dish, fish and chips.
- Watching the street performers in Covent Garden.
- Enjoying the views at a South Bank cafe.