Project Cost and Financial Management

Course Objectives

At the end of this action-based workshop, participants will be able to:

• Identify the correct method of financial assessment for a project and understand the formula, method of calculation and analysis of results.
• Identify types of cost, definition and financial terminologies used in a project.
• Create a total project scope in a form of Work Breakdown Structure (WBS) and project schedule by using Critical Path method.
• Create a short and long term project costing and financial requirements.
• Perform project cost monitoring by using Earn Value Management (EMV) techniques and S-Curve analysis
• Perform analysis and post project assessment in terms of profit and loss (PNL)

Target Audience

This course is perfect for project directors, project managers, assistance project manager, project team members, technical team members, financial executive, business analyst and anyone who is directly involved with projects in almost every industry who wishes to achieve a better understanding of practical, formal project management methods.

Methodology

This introductory workshop will help you to be more effective in your role, and will give you a proven set of tools and techniques to use when managing projects in any industry; from initiation and planning through to execution and closeout, to help ensure project success. Participants will work in teams to plan and execute simulated projects with management tools as used by professional project managers.

Course Modules

Session 1: Introduction to Project Assessment and Selection

Session 2: Project Assessment and Selection Methods

Session 3: Introduction to Strategic Cost Management

Session 4: Cost Classification and Cost Behavior

Session 5 : Project Cost Monitoring

Session 6: Project Cost Calculation

Session 7: Project Proposal Evaluation

Course Summary & Wrap Up – Developing your Action Plan