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.
Conference 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.
Conference 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.
Conference 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 Madrid
Madrid is a city that combines its enduring history with its cosmopolitan atmosphere to create a destination that favored amongst tourists from around the world. This is a city that is very much bursting at the seams with life and its vibrant atmosphere, cultural attractions and connection with history ensure travelers have everything they could possibly want from a European city break. At the end of a flight to Madrid, there are sites to see, picturesque streets to roam and, of course, excellent shopping opportunities to explore. Visitors can immerse themselves in Madrid's fantastic local culture, its peerless art scene and world acclaimed fine dining. In fact, there is very little that Madrid doesn't have to offer.
Things to do and places to visit in Madrid
The only problem travelers will encounter during their visit to Madrid is knowing what to do first. Sampling the mouth-watering tapas, strolling through one of the many excellent museums or even simply soaking up the atmosphere are all excellent options. Spend a sunny day wandering through the splendid squares or marvel at the intricate architecture of the churches.With so many options, flights to Madrid are great for people of any age or inclination.
When visiting Madrid, be sure to:
- See the superb collection of art is the Museo del Prado.
- Stroll down the Gran Via.
- Enjoy the atmosphere of the Plaza Mayor.
- Wander through the stunning gardens of the Parque del Buen Retiro.
- See the beautiful mansion of the Museo Lazaro Galdiano.
- Find quirky fashions in the Fuencarral market.
- Try some of the many different tapas dishes.
- Visit the statues of Don Quixote and Sancho Panza in the Plaza de Espana.
- See the breathtaking Basilica de San Francisco El Grande.
- Wander the Casa de Campo park, which is five times the size of Central Park.
- Shop in the luxury boutiques of the Golden Mile.
- Look for bargains at the El Rasto flea market.
- See Picasso's Guernica in the Reina Sofia museum.
- Snack on churros with chocolate.