Financial Management for Projects and Contracts

Financial Management for Projects and Contracts

Course Overview

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 seminar 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 take this course

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

Objectives
• Communicate to all stakeholders your contribution towards project financial management
• Gain focus on overall project management to maintain project profitability and performance
• Make informed decision with respect to pricing, contract and project risk management
• Maintain overall control of projects through proper cost estimation and management

Course 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.

OUTLINE

  • Overview
    • Definition of a project and project management
    • Project and contract relationship
    • Project life cycle
    • Project stakeholders
  • Principles of contracts
    • Definition of a contract
    • Elements of a contract
    • Objectives of contract management
    • Knowing your contract
    • Scope of work
    • Terms and conditions
    • Stages of contracting
  • Pre-award phase
    • Developing the business case
    • Project charter
    • Project scope statement
    • Contracting plan
    • Locating contractors
    • Contractors pre-qualification
    • Developing the project plan
  • Project planning
    • Work breakdown structure
    • Duration and resources estimation
    • Relationships between activities
    • Network diagrams
    • Critical path analysis
    • Developing a 'Gantt' chart
    • Milestone charts
    • Resource allocation
    • Project budgeting
    • Project and contract risk management
  • Award phase
    • Evaluation plan
    • Terms and conditions
    • Fixed price contracts
    • Cost reimbursable contracts
    • Time and material contracts
  • Post award phase
    • Contract administration
    • Project status reporting
    • Managing deviations
    • Tools used to manage projects and contracts
    • Variation orders
    • Handling claims
    • Dealing with disputes
    • Breach of contract

Certificates

A Certificate of Completion will be issued to those who attend & successfully complete the programme.

Schedule

  08:30 – 10:15 First Session

 10:15 – 10:30 Coffee Break

10:30 – 12:15 Second Session

 12:15 – 12:30 Coffee Break

12:30 – 14:00 Third Session

 14:00 – 15:00 Lunch

 Fees

 The Fee for the seminar, including instruction materials, documentation, lunch, coffee/tea breaks & snack is: