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Financial and Basic Accounting Principles for Project Managers

Procept Associates Ltd.
Training overview
Professional Course
E-learning
2 days
Start dates
Online
Start anytime

Course description

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.

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.

Training content

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

Certification / Credits

Credits: 14 PDUs/CEUs

Learning Outcomes

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

About Procept

Procept Associates Ltd.

Since 1963, Procept (and its subsidiaries) have trained over 1 million people from over 17,000 organizations. We focus on developing competencies in project management, change management, agile management, leadership, business analysis, IT and data management, as well as soft skill...


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