Financial & Basic Accounting Principles for PM Training in Detroit, MI

Certificate: Course Completion Certificate

Language: English

Duration: 2 Days

Credits: 16

Course Delivery: Classroom/ Virtual Live/On-Site

Offers: Groups of 5 - 10 people 10% Discount | Groups of 11 - 20 people 15% Discount

Course Overview:

This course provides participants with information and tools on how to get a better handle on the important area of financial management. The course addresses finance-related concepts and techniques to effectively manage projects and programs. The course also provides understanding about corporate finance and basic accounting principles. The course covers techniques related to project reporting and decision making, as well as financial indicators and corporate financial reports.

Target Audience:

• Project Managers
• Project practitioners
• Individuals taking part in managing budgets
• Individuals who seek to improve their knowledge in basic accounting and financial concepts

Learning Objectives:

At the end of this course, you 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 risks
• Use financial information within a project environment to predict/influence final results
• Recognize the project manager’s financial responsibilities

Prerequisites:

It is recommended that the participant has basic knowledge/understanding of project management foundations and principles.

Course Materials:

Students will receive a course manual with presentation slides and reference materials.

Examination:

There is no exam for this course.

Technical Requirements:

For eBooks:

Internet for downloading the eBook

Laptop, tablet, Smartphone, eReader (No Kindle)

Adobe DRM supported software (e.g. Digital Editions, Bluefire Reader)

eBook download and activation instructions

Agenda:

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

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Host or Publisher Mangates