An Intensive 5-day Training Course
Financial Management for Projects & Contracts
- Format: Classroom, Live/Online
- Duration: 5 days
- Language: English
- Accredited: CPE, KHDA Certified training courses
With increasing competition and focus on corporate earnings, project and contract managers are held accountable, not just for achieving technical and scheduling goals, but also for meeting profitability targets and other cost related measures.
This EuroMaTech Financial Management for Projects and Contracts training course explores the financial metrics that are commonly used and also examines the less frequently thought of financial 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.
By attending this EuroMaTech training course, delegates will understand:
- Key elements of finance and accounting relevant to good project and contract management
- Time value of money considerations and the importance of cash
- Evaluation criteria for Requests for Authorisation (RFA)
- Best practices to manage contact pricing
- Link risk to costing and performance evaluation
This Financial Management for Projects and Contracts training course aims to enable participants to achieve the following objectives:
- Communicate more effectively with accounting and financial personnel
- Read, understand, and analyse accounting and financial data
- Expand work in project scheduling and cost control to encompass additional financial metrics and tools
- Minimise project financial risk
- Develop and apply tools for comparing project financial returns
- Understand how finance often drives organisational decisions and evaluations of project performance
WHO SHOULD ATTEND?
This EuroMaTech training course provides a user-friendly environment to develop the knowledge and techniques of finance related to project and contract management that are valuable for:
- Project Professionals
- Project Managers
- Contract Professionals
- Commercial Executives
- Project and Contract Personnel who need to establish a firm understanding of finance would find this programme extremely beneficial
Delegates will learn by active participation during the training course through the use of exercises, case studies, practical workshops, syndicate and group discussions.
The successful management of projects and contracts require more than a basic understanding of financial matters. From the evaluation of proposal viability to monitoring of performance, the ability to see things from a financial perspective is a valuable addition to the skill collection of any Project or Contract Professional.
Day 1 - Fundamentals of Finance
- Time value of money
- Discounted cash flows
- Direct vs. indirect costs
- Fixed vs. variable vs. semi-variable costs
- Break-even analysis
Day 2 - Contract Profitability - Pricing
- Pricing strategy and tactics
- Profit planning
- Cost estimating
- Cost-based pricing
- Market-based pricing
- Value-based pricing
Day 3 - Asset Management - Cash is King
- Timing of cash flows
- Revenue recognition
- Financing arrangement
Day 4 - Risk Management, Terms and Conditions
- Managing Risk
- Scenario and Sensitivity Management
- Earned Value Analysis (EVA)
- Variance Analysis
- Contract Terms and Conditions
Day 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
- Using Excel® to analyse historical data
Euromatech is a Knowledge & Human Development Authority (KHDA) approved training institute in Dubai, licensed and approved to deliver training courses in the UAE.
The KHDA is the regulatory authority in the UAE, that oversees administering, approving, supervising, and controlling the activities of various education providers in the UAE. We are proud of our commitment to ensuring quality training courses and status as a KHDA-approved training provider.
Taught by our team of highly qualified trainers, our KHDA approved training courses will provide you with an enriching learning experience and practical knowledge that will help you future-proof your career and support professional development within your organisation.