Course: Financial Management for Projects & Contracts

PROGRAMME OUTLINE

DAY 1 - Fundamentals of Finance

• Financial accounting concepts
• Generally accepted accounting principles
• Reading and understanding financial statements
• Financial analysis
• Managerial accounting
• Business case consideration
• Cost vs. revenue
• Profitability measures
• ROS
• ROA/EVA
• ROE
• IRR
• 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
• Profit objective
  • Market structure
  • Follow-on business
  • Risk
  • Z score
• Market structure
• Follow-on business
• Risk
• Z score #

DAY 3 - Asset Management - Cash is King

• Cash
• Timing of cash flows
• Accounts receivable
• Inventory
• Equipment
• Revenue recognition
• Financing arrangements

DAY 4 - Terms & Conditions (Ts & Cs) - Best Prices

• Value, cost, and risk
• Asset-friendly Ts and Cs
• Unfavourable Ts and Cs
• Metrics to evaluate

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

The Scandinavian Academy for Training Center adopts the latest scientific and professional methodologies in training and human resource development, aiming to enhance the efficiency of individuals and organizations. Training programs are delivered through a comprehensive approach that includes:

• Theoretical lectures supported by PowerPoint presentations and visual materials (videos and short films).
• Scientific evaluation of participants before and after the program to measure progress and knowledge acquisition.
• Brainstorming sessions and practical role-playing to simulate real-life scenarios.
• Case studies tailored to align with the training content and participants work nature.
• Assessment tests conducted at the end of the program to evaluate the achievement of training objectives.

Each participant receives the training material (both theoretical and practical) in printed form and saved on a CD or flash drive. Detailed reports, including attendance records, final results, and overall program evaluations, are also provided.

Training materials are prepared professionally by a team of experts and specialists in various fields. At the end of the program, participants are awarded a professional attendance certificate, signed and accredited by the Scandinavian Academy for Training Center.

Program Timings:

• 9:00 AM to 2:00 PM 

The program includes:

• A daily buffet provided during the sessions to ensure participants comfort.
• A closing ceremony on the final day to distribute certificates and celebrate participants achievements.

INTRODUCTION

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 training session 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.

WHO SHOULD ATTEND?

Anyone working within the projects and contracts departments who need to establish a firm understanding of Finance would find this training sesson extremely beneficial.  Take advantage of this opportunity to get a firm grasp of the financial management issues that can affect your projects.

PROGRAMME OBJECTIVES

• Communicate more effectively with accounting and financial personnel
• Read, understand, and analyse accounting and financial data
• Expand your 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.

PROGRAMME SUMMARY

Learn about common financial analysis tools in the project environment that link project management to broader corporate strategic goals.  Case studies and project-related exercises give you the opportunity to apply these proven tools and techniques.

Learn how the financial health of your organisation can be significantly affected by operating decisions regarding pricing as well as terms and conditions and asset management.