Training Schedule
Financial Management for Projects
Course Category: Project Management Courses
Duration: 1 day
Price: 595 + VAT
Type: Public, In-House
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Course Overview
By the end of the course participants will have a better understanding of the principles and techniques for:
- Ranking project proposals against the business priorities
- Project business cases and investment appraisal techniques
- Identifying and measuring benefits and costs
- Sensitivity analysis
- Project governance and decision making
- Tracking project costs and project progress
- Re-assessing the business case
- Post-implementation reviews
- Benefits realisation
Based on the course content, the delegates will be able to manage the financial aspects of projects with more certainty and assess the financial management of projects under the control of other people.
Course Synopsis
Introduction
• A brief overview of the project life cycle
• The difference between projects and normal business
Exercise – Quiz
An opportunity for involvement of the delegates and for them to start to think of the subject matter
Project proposals and business priorities
• Project start-up procedures
• Project categorisation and strategic alignment
• The approach to approving projects
The project business case
• A description of the essential elements of a project business case
• Evaluating benefits
• Cost identification
• Estimating techniques
• Cost/benefit analysis techniques
• Sensitivity analysis
• Contingency and ownership
Group work - A workshop based exercise on business cases
Project governance
• Project roles and responsibilities
• Decision making
• Contract terms and conditions with third parties
• Change control procedures
• Standard policies and procedures (e.g. financial)
Project tracking, forecasting and KPIs
• Assessing the completion of work
• Tying payments to contractual terms
• Recording costs (internal and external) and accruals
• Reconciliation with the general ledger
• Measuring variances (actual vs budget) and understanding the causes
• Forecasting project outcomes
• Reassessing the business case
• Activity-based indicators
• Reports to the project board
• Exception planning
Group work - A workshop based exercise on project tracking
Post-implementation reviews
• The purpose and importance of the review
• When to conduct PIRs
• How to conduct PIRs
Benefits realisation
• Evaluating the changes to BAU required for success
• When benefits realisation planning starts
• The accountability of the sponsor
Group work - A workshop based exercise on benefits realisation
Conclusions
• Key learning points of the day
• Actions to take away
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