Course Description
Project managers play a key role in developing the long-term financial goals of a company or an organization in ensuring a profitable future for the firm. In today’s competitive business environment every project manager needs to accountable for the bottom line. Whether it’s justifying a new hire, the purchase of new equipment, creating a project budget, or presenting relevant revenue projections and expenses– having a working knowledge of financial management will greatly improve the project manager’s chances of running a successful project.
Designed for Project Management Professionals, this course will provide you with the cutting-edge insights on the financial management framework used worldwide. This indispensable knowledge of financial management will help you to manage your project in a superior and efficient manner.
This program covers key finance technique for project managers through a series of dynamic presentations, cutting edge videos, exciting group activities, and real-world applicable case studies.
At the end of the program, you will leave the course with confident in dealing with the financial aspect of your projects.
Upon completion of this training course you will recieve your certificate which has been fully accredited by Qualifi, an official UK government recognized awarding body.
Benefits of an Internationally Accredited Certification
Our accredited courses have been independently assessed to ensure a consistent and high quality
Our accreditation provides proof that we comply with industry best practices.
Our accreditation demonstrates that our presenters have vast technical knowledge and experience.
Studies have shown that individuals that attain international accreditation/certification are more likely to achieve higher salaries and be promoted over those individuals that are not.
Key Takeaways
Become familiar with key documents and terminology used in business finance
Gain confidence and skill in decision-making and working with financial managers
Learn the essentials of budgeting and cash-flow analysis
Perform fundamental financial ratio analysis
Understand the process of financial control for a project
Use earned value analysis to establish cost performance index and schedule performance index for your projects.
*Successful completion of the course materials, and exam makes you a Certified Financial Management for Project Managers (FMPM)™ . You can use the designation of FMPM™ on your resume and business card.
Agenda
Topics That Will Be Covered
Overview of Project Management
History of Project Management
Definition of a project
Project life cycle
Key knowledge areas of project management
Why do projects fail
Case Study: The Trophy Project
Project Planning and Scheduling
Scheduling and Planning (Work breakdown structures)
Gantt and PERT Charts
Critical Path of project activities
Project Scope Management
Controlling the project
Controlling schedules and budgets
Organizational requirements for project control
Earned value metrics (EVM)
Group Activity: Controlling project costs and durations using earned value techniques
Introduction to Financial Management
Goals of financial management
Cash cycle of the enterprise
Reporting the results: the four financial statements
Financial Statement Analysis
Profit & Loss Account (In the US called an Income Statement)
Balance Sheet
Cash Flow Statement
Fixed costs and break-even analysis
Understanding changes in owner’s equity and financial position
Measurements of business performance: ratio analysis – profitability, liquidity, working capital efficiency, gearing and return on investment
Financing a project
Case Study: Participants will calculate key financial ratios for a typical company.
Project budgeting and methods to evaluate cash flows
Factors affecting discount rates
Capital budgeting
Weighted average cost of capital (WACC)
Payback period
Net present value (NPV)
Internal rate of return (IRR)
Case Study: Chevron Case Study – Decision Making in an Uncertain World
Project Risk Management
Risk management
Qualitative and Quantitative risk analysis
Scenario Analysis
Decision Tree Analysis- Evaluating payoffs and risks of different projects
Sensitivity Analysis – determine how sensitive a project is to particular risks
Group Activity: Build a decision tree to evaluate projects
The Capital Asset Pricing Model (CAPM)
Risk characteristics and components
Principle of diversification
Beta: a formal metric of risk
The Capital Asset Pricing Model (CAPM) relationship between risk and expected return
The Security Market Line and expected return for individual investments
Case Study: Project Evaluation-Tortuga Fishing Equipment Company
*PERSONALITY PROFILING TEST VALUED AT $275 IS INCLUDED IN THIS PROGRAM.
*EARN PROFESSIONAL DEVELOPMENT UNITS TOWARDS MAINTAINING YOUR RELEVANT CERTIFICATION/LICENSE.
*EARN (PROFESSIONAL DEVELOPMENT CREDIT) UPON SUCCESSFUL COMPLETION OF THIS PROGRAM TOWARD SHRM.
Audience
Who Should Attend This Program
This course is designed for non-financial managers of all functional areas of an organization including:
- Project Managers
- Executive Managers
- Managing Directors
- Operations Managers
- Team Leaders
- Supervisors
- General Managers
Comments
Delegates must meet the following criteria to be eligible for certificate of completion:
Attendance – delegates must attend all sessions of the course. Delegates who miss more than two hours of the course sessions will not be eligible to sit for the Certified Financial Management for Project Managers (FMPM) Examination.
Successful completion of the course exam– Upon completion of this training course you will receive your certificate which has been fully accredited by Qualifi Limited; a UK recognized awarding organization (Ofqual registration 04619981).