Description
Learn in a classroom environment with your peers, virtually, with an instructor online.
Course Length: 2 Days
Target Audience: General
About the Course
Do you manage both project schedules and budgets, but do not have insight into how actual results relate to the approved budget? Do you desire to have more clarity about the relationship between your project’s performance with the accounting and financial systems in your organization? Do you need to understand financial and accounting terminology to bridge the gap between the “world of finance” and the “world of project management?
Organizations have a need to manage-by-projects, because projects are the means to deliver on strategic goals and objectives. Therefore, the project manager must have an understanding of the financial world of investments to ensure the organization will realize expected business value. This requires a foundation in the principles of accounting and finance to comprehend how the project’s contribution provides an organization with a competitive advantage. Learn what you must do to give your organization the assurance it needs that its investment in your project will realize business value.
Learn what you must do to give your organization the assurance it needs to know that its investment in your project will realize business value.
Learning Objectives
At the end of this program, you will be able to:
- Explain the aspects of classical corporate accounting and finance effects on managing projects
- Determine how your project fits into the corporate income statement, balance sheet, and cash flow statement
- Analyze the financial aspects of managing projects
- Use earned value management as the basis for decision making throughout the project life
- Recognize the importance of the project manager’s financial responsibilities
- Focus on what PMs do and should be doing, in support of accounting and finance
- Use financial information within a project environment to meet financial results
- Track and analyze the project’s financial status and forecast with the goal of realizing benefits
- Generate work performance data to ensure a project’s outcome aligns with financial metrics
Course Overview
- Getting Started
- Foundation Concepts
- Projects as Investments
- Accounting and Finance World: Standards, Principles and Practices
- Accounting and Finance World: Economic Selection Methods
- Project Management World
- Summary and Next Steps
Supplement Material
A student manual is available for the learner to follow during the instructor’s presentation.
Benefits to the participants
Throughout the activities, the learners will look at how accounting is used in projects as well as learning various financial skills.
Course Evaluation
A course evaluation will be completed by the learners once the course is finished.
Note: The course outline may be subject to change.
