Course Overview
Course Description
This intensive 5-day course equips project managers and finance professionals with advanced skills in financial management for projects and contracts. Participants will learn to effectively budget, control costs, manage risks, and optimize contract terms to ensure project profitability and success.
Learning Objectives
- Develop proficiency in project financial planning and budgeting
- Master techniques for cost estimation, control, and analysis
- Learn to identify, assess, and mitigate financial risks in projects
- Gain expertise in contract pricing, negotiation, and management
- Understand key financial metrics and their impact on project performance
Course Modules
Day 1: Fundamentals of Project Finance
- Introduction to financial management in project contexts
- Financial accounting concepts and principles
- Reading and analyzing financial statements
- Time value of money and discounted cash flows
Day 2: Project Budgeting and Cost Control
- Developing comprehensive project budgets
- Cost estimation techniques and best practices
- Implementing effective cost control measures
- Earned Value Management (EVM) principles
Day 3: Financial Risk Management in Projects
- Identifying and assessing financial risks
- Risk mitigation strategies and contingency planning
- Financial modeling and scenario analysis
- Managing currency and interest rate risks
Day 4: Contract Pricing and Negotiation
- Contract types and their financial implications
- Pricing strategies for different contract structures
- Negotiation techniques for favorable contract terms
- Managing change orders and contract modifications
Day 5: Financial Performance and Reporting
- Key financial metrics for project success
- Creating and interpreting financial reports
- Cash flow management and forecasting
- Financial close-out procedures for projects
Practical Wins for Participants
- Ability to create accurate and comprehensive project budgets
- Skills to negotiate more favorable contract terms
- Techniques to identify and mitigate financial risks effectively
- Improved decision-making using financial data and analysis
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