Accounting and Finance Principles for PM Practitioners
Manage the Financial Outlook of Your Projects
Do you often feel that you are using different
numbers to track costs, must support different
cost structures and charts of accounts and
also must meet different time frames? Are
you unclear about the relationship between
your project’s cost system and budget and the
accounting and financial systems in use in your
organization?
With the increase in use of the management-by-projects concept, projects today are not
just viewed as a cost to organizations but are
viewed as an investment. The project manager
now requires a broader focus in order to ensure
that the project will produce a greater return
to the organization. Each project professional
must have a thorough grounding in principles
of accounting and finance in order to determine
the project’s contribution to economic value
and to ensure that the project results in a
competitive advantage with maximum cash
flow.
Learn what you must do to ensure that no
last-minute, unplanned costs, expenses or
allocations affect your projects’ financial
outlook.
Prerequisites
A good working knowledge of project
management, as well as some experience
managing projects
Course Level
Intermediate/Advanced
Who Should Attend
This program is designed for project and
program managers, as well as team members
with little or no knowledge of corporate or
project management accounting and finance.
Performance Focus
The goal of the course is to equip you with the
necessary knowledge, skills and techniques to
control the financial profitability of your
projects and ensure that your projects meet the
financial goals of your organization.
What You Will Learn
You’ll learn how to:
Describe the reason for doing projects
Understand the basics of project
management
Understand the cost needs of the project
team
Understand the financial needs of the
company
Describe how these two apparent conflicting
worlds really do reconcile
Perform simple financial/accounting analysis
Perform simple project performance analysis
Understand how cash flow and project
performance baselines are different
Reconcile and work within those differences
Focus on what you are doing now as well as
on what you should be doing
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Course Overview
Getting Started
Introductions
Course structure
Course goals and objectives
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Introduction
Benefits of project management
Project focus versus organizational focus
Accounting and finance in the organization
The project manager’s financial responsibility
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The Project Management World
Financial management
Focus on project management
Project life cycles
Budget cycles
Unified Project Management® Methodology
(UPMMTM)
Project decision checkpoints
Filtering/pipeline process
Triple constraints in project management
Project estimating
Project budgeting
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The Financial Management World
Focus on financial management
Financial cycles
Budget cycles
Project decision checkpoints
Filtering/pipeline process
Triple constraints
Basic financial principles
Example profitability measures
Return on investment (ROI)
Return on equity (ROE)
Present value (PV)
Internal rate of return (IRR)
Break-even analysis
Cost versus revenue
Cost types
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Merging the Two Worlds
Budget cycle versus project life cycle
Financial and project management
The two worlds together
Project performance
Status reporting
Earned value analysis
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Summary
What did we learn, and how can we
implement this in our work environments?
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Take advantage of the flexibility, customization, focus and control that onsite training offers and let us tailor a course or program to align with your
company’s mission, values and unique business needs. We can deliver any course to your team or organization in a private format - at your location, at
one of our training sites or in a virtual setting. Email us at onsite@iil.com for a free consultation today or visit www.iil.com/onsite for more information.
VIRTUAL CLASSROOM: Dynamic and fully interactive, a live, online version of this course is led by an instructor and conducted in real time.
#8810 / Four 3-hour sessions
CEU Credits: 1.2 / PDU Credits: 12
Price: USD 850
#5007 / 2 Days
CEU Credits: 1.4 / PDU Credits: 14
Price: USD 1295
ON-DEMAND LEARNING: Set your own pace with a recorded online version of this course and log on when and where you learn best.
#PA8810 / Four 3-hour sessions
CEU Credits: 1.2 / PDU Credits: 12
Price: USD 850
