Professional Project Managers expanding their accountability and aligning their focus with delivering large, complex and/or long-term Projects for external customers, face a common challenge-acceptance of financial responsibilities which go beyond traditional Cost Control management.
Skilled Program Managers leveraging their knowledge and expertise in delivering Projects in Time per Budget now themselves determine the Time and management of Budgets to meet customer requirements and making their Project-Based businesses profitable.
This programme uniquely combines Project financials and Project Management methodology. Audience are introduced to financial terminology and provided with practical experience to develop a Project Budget, which meets financial targets of the Key Stakeholders.
The course consists of two parts:
- Presentation, where participants gain understanding of fundamentals: 'Why?', 'What?', and 'How?' and theoretical knowledge for Project Budget Planning
- Practical exercises to cement the learned material: Project Sales Structure, Budget Development and Financial Analysis
The Way Financiers think
Is my business sustainable?
Do I make or lose money?
Who are my Debtors and Creditors?
What is my Working Capital?
How strong is my Cash Flow?
How much are my Risk Funds?
Is my Price competitive?
Shall I start another business?
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The Way Project Managers think
Is my Project defined?
How much can I spend?
Who are project's stakeholders?
What are my Resources?
How strong is my Team?
What is my Risk Mitigation strategy?
Is my project in Time?
Shall I start another Project?
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In Project-Oriented businesses, Project Managers need Financier's thinking, and Financier's need Project Manager's methodology.
WORKSHOP OBJECTIVES
- Understand the Activity-Based Costing model, applicable to Projects
- Identify, understand and develop the Scope Management Plan
- Familiarise themselves with Financial terminology
- Understand fundamentals of the Project financial sustainability and targets
- Gain technique to develop Project Budget
- Understand the role of a scope change control system
- How a Work Breakdown Structure (WBS) should be organised and developed
- Gain a comprehensive understanding of the types of risks that threaten projects
- Knowledge of strategies used to recognise risks, assess possibilities and potential impacts, and ways to respond
- Tools and techniques to identify, analyse, rank, quantify and manage risks
COURSE OUTLINE
- Project Initiation definition
- Scope verification
- Scope Management Plan
- Scope change control system
- Work Breakdown Structure (WBS)
- Overview of Risk Management and process
- Risk Planning
- Risk Identification and Analysis
- Qualitative Risk Management
- Quantitative Risk Management
- Risk response development, monitoring and control
- Project -oriented business
- Key Stakeholders
- Financial parameters
- Terminology & Definitions
- Cost Accounts
- Risks and Contingency Allowance
- Project Cost & Budget
- Sales Structure & Profit Allocation
- Financial Analysis
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Project Costs and Payments |
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Revenue Realisation |
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Profit & Lost forecast |
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Debtors & Creditors |
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Work in Progress (WIP) |
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Working Capital |
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Cash Flow Forecast |
- Project Sales Structure
WHO SHOULD ATTEND
- Project Owners
- Experienced Project Managers
- Program Managers
- Project Directors
- Business Development Managers
If you have any queries or would like to request our complete brochure, please email us at enquiry@ssg-apac.com
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