Finance Essentials for Project Professionals

A new short course in the essentials of finance specifically tailored for those interested in the financial success of projects

Course Overview

We aim to provide participants with the knowledge to demystify the often confusing and sometimes intimidating world of Finance. Our focus is to keep things simple, practical, flexible and fun!

This course is targeted to people who may not possess formal Finance qualifications yet their role requires them to speak the language of Finance every day with Project Sponsors, Senior Management, Finance staff and other key project stakeholders.

Unlike generic ‘Finance for the non- Finance manager’ courses, this course has been designed specifically for the Project Professional, by Project and Finance Professionals with an emphasis on relevancy, practicality and immediate application in the workplace.

Our highly experienced facilitators are driven to simplify complex concepts and achieve the right balance between theory and practice. We strive to optimise engagement and encourage open discussion in a non-threatening environment.

Our primary goal is to ensure participants walk away from this short course with a full understanding of the fundamentals of Finance and immediately realise the benefits in their work as a Project Professional.

    Course Content

  • Introduction to Finance
    • All you need to know about debits and credits
    • Profit and Loss, Balance Sheet – what do they really tell you?
    • Capex vs. Opex
    • Core Financial Terminology
    • The Accounting Cycle
    • Internal Control
  • Absorption Costing
    • Fixed, variable, direct, indirect costs
    • The Labour Rate
  • Project Initiation
    • Investment strategy
    • Evaluation criteria
    • Risks and Contingency
  • Project Planning
    • Preparing a bottom up budget
    • Work Breakdown Structures
  • Project Execution
    • Reforecasting and cost management
  • Project Monitoring and Control
    • Reporting Actual Costs
    • Accruals
    • Cost Control Terminology
    • EVM
    • Variance Analysis
  • Project Closure
    • Essential Financial records
    • Lessons Learned
Please be advised all participants will be provided with a detailed course workbook and copies of electronic templates.

Learning Outcomes

ETM’s expectation will be that ALL participants walk away from our short course with the following:

  • A sound understanding of the core principles of Financial Management including:
    • Familiarity with Financial ‘jargon’
    • The ability to easily interpret Financial Statements and identify performance trends
    • Insight into the mind of your CFO!

In addition to:

  • A sound understanding of Best Practice Project Financial Control including:
    • The know-how to create a realistic budget and forecast
    • The ability to analyse Project Financial Status Reports
    • Strategies to address particular types of budget variances

Duration?

Two consecutive days.

Who Should Attend?

This course is suited to anyone involved in Projects who wants to improve their financial literacy and know how to confidently manage the financial performance of projects. Participants could include existing project managers, organisational managers, team leaders, business analysts, project officers.

Cost?

$990 (includes GST) per person.

Corporate Delivery?

A specific short course can be designed for corporate clients. Prices are available on request. Please contact the ETM team at corporate@etmmanagement.com.au or call on +61 3 9556 1407.

finance

ETM Management Training is a specialist organisation providing ‘world class’ training programs for project leaders.

 

“If you think training is expensive try ignorance”

Peter Drucker