Financial Management in Projects
Ensuring cost control, avoiding budget overruns and delivering expected value
Organisations invest a large amount of money in project developments based on financial assumptions that should protect their assets. In the actual context, project managers have a certain accountability to ensure proper use of capital assigned to them and to meet all project objectives. To put it short, time is money!
The training Financial Management in Projects will give insights on the most important elements of financial management: budgeting vs. accounting, cash flows, variance analysis and lessons learned.
Gain focus on overall financial project management to maintain project profitability and performance
Maintain overall control of projects through proper cost estimation and management
Provide insights on project financial management best practices, tools and techniques
Make informed decision with respect to pricing, contract and project risk management
1. Introduction to financial management in projects
2. Project budgeting, accounting and charging
3. Tracking and reporting on project financial statements
a. Budget limits, triggers, accountability & control
b. Appraisal tools
c. Cost Variance & EVM
d. Financial dashboards
4. Managing cash flows
5. Analysing budget variances
6. Lessons learned in financial management
• Project and Programme managers responsible for managing a budget
• PMO managers reporting on project budgets or interacting with finance department
• Members of project board or project steering committee responsible for the budget control
• Basic project management methodology
Theory and concepts are illustrated by trainers with sound expertise and experience in the financial management of projects;
Group discussions with the purpose to match the relevant financial management of project issues to real life experience.