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Financial Management for Projects and Contracts



This training program explores the financial metrics that are commonly used and also examines the less frequently thought-of economic impact of typical operating decisions and actions. Building on your competencies, you will examine the inner mechanics of how finance and accounting can impact your project.

Program Objectives:

At the end of this program, the participants will be able to:

  • Enhance communication with accounting and financial personnel, and analyze accounting and financial data effectively.

  • Expand project scheduling and cost control by incorporating additional financial metrics and tools to minimize project financial risk.

  • Develop and apply tools for comparing project financial returns, understanding how finance influences organizational decisions and project performance evaluations.

  • Learn standard financial analysis tools linking project management to corporate strategic goals, with case studies and exercises to apply these techniques effectively.

Targeted Audience:

  • Project and Contract managers.

  • Financial managers.

  • Procurement managers and specialists.

  • Project coordinators and administrators.

  • Business analysts.

  • Engineers and construction managers working on projects.

  • Anyone else responsible for the financial aspects of project management and contract administration.

Program Outlines:

Unit 1:

Fundamentals of Finance:

  • Financial accounting concepts and generally accepted accounting principles, including reading and understanding financial statements.

  • Financial analysis and managerial accounting techniques, along with business case considerations.

  • Exploring cost versus revenue, profitability measures such as ROS, ROA/EVA, and ROE.

  • Understanding the time value of money, discounted cash flows, and fixed versus variable versus semi-variable costs.

  • Examining direct versus indirect costs and conducting break-even analysis.

Unit 2:

Contract Profitability - Pricing:

  • Pricing strategy and tactics, including profit planning and cost estimating.

  • Exploring cost-based, market-based, and value-based pricing methods.

  • Setting profit objectives and understanding market structure.

  • Assessing follow-on business opportunities and managing risks effectively.

  • Utilizing financial metrics like Z score for risk assessment.

Unit 3: 

Asset Management - Cash is King

  • Cash and Timing of cash flows.

  • Accounts receivable.

  • Inventory. and Equipment.

  • Revenue recognition.

  • Financing arrangements.

Unit 4:

Terms & Conditions (Ts & Cs) - Best Prices:

  • Value, cost, and risk.

  • Asset-friendly Ts and Cs.

  • Unfavourable Ts and Cs.

  • Metrics to evaluate.

Unit 5:

Cost Estimating What Works Best:

  • Cost estimating methods.

  • Planning and scheduling.

  • Making sense of historical data.

  • Experience curves.

  • Relationship between cost estimating and pricing.

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