Advanced Accouting Budgeting and Finance for Project Manager #200924

• Apply advanced accounting concepts to interpret financial data and reports relevant to project budgeting and cost control.
• Develop and manage project budgets using best practices, considering future trends and potential cost drivers.
• Utilize financial modelling techniques to forecast project costs and cash flows under various future scenarios.
• Identify and manage financial risks associated with projects, incorporating future studies methodologies like scenario planning.
• Make data-driven decisions regarding project resource allocation, budgeting, and cost control strategies.
• Communicate financial information effectively to project stakeholders, fostering transparency and alignment.
• Understand the impact of emerging technologies like artificial intelligence and big data on project budgeting and financial management.
• Develop a future-oriented mindset for project financial planning, considering potential disruptions and opportunities in the project landscape.

• Project managers, team leads, and other professionals involved in project budgeting and financial management.
• Anyone interested in gaining a deeper understanding of financial principles and their application to project management in a future-oriented context.

• Pre-assessment
• Live group instruction
• Use of real-world examples, case studies and exercises
• Interactive participation and discussion
• Power point presentation, LCD and flip chart
• Group activities and tests
• Each participant receives a binder containing a copy of the presentation
• slides and handouts
• Post-assessment

Day 1: The Future of Project Management & Financial Literacy
• Welcome and program overview.
• The Evolving Landscape of Project Management: Exploring the growing importance of financial literacy for project managers in a dynamic and competitive business environment.
• Financial Fundamentals for Project Managers: Understanding core accounting principles, financial statements, and their relevance to project budgeting and cost control.
• Future Studies for Project Finance: Learning how to incorporate scenario planning, horizon scanning, and other future studies methodologies to identify potential future risks and opportunities that may impact project budgets.
• Case Study: Analysing a real-world example of a project manager who successfully leveraged financial analysis to identify and mitigate a potential future cost overrun.
Day 2: Building & Managing Project Budgets for the Future
• Project Budget Development & Cost Estimation: Learning best practices for developing project budgets, including cost estimation techniques, considering potential future cost fluctuations and disruptions.
• Work Breakdown Structures (WBS) & Financial Planning: Understanding how to develop Work Breakdown Structures (WBS) and link them to financial planning for effective project cost control.
• Cost Control Techniques & Variance Analysis: Exploring advanced cost control techniques and variance analysis methods to monitor project budgets, identify deviations, and take corrective actions as needed.
• Scenario Planning & Future-Proofing Project Budgets: Learning how to utilize scenario planning to develop flexible project budgets that can be adapted to various future economic conditions and unforeseen circumstances.
• Workshop: Participants work in teams to develop a sample project budget for a hypothetical scenario, incorporating future studies considerations and risk mitigation strategies.
Day 3: Financial Modelling & Risk Management for Projects
• Financial Modelling for Project Managers: An introduction to financial modelling techniques used to forecast project costs, cash flows, and profitability under different future scenarios.
• Identifying & Assessing Project Financial Risks: Learning how to identify and assess potential financial risks associated with projects, considering future trends and potential disruptions.
• Risk Management Strategies & Contingency Planning: Exploring various risk management strategies and contingency planning techniques to mitigate financial risks and ensure project success.
• Case Study: Analysing a case study of a project that encountered a major financial risk and how the project manager used mitigation strategies to minimize its impact.
• Interactive Exercise: Participants engage in a simulation activity where they practice identifying and responding to potential financial risks that may arise during a project lifecycle.
Day 4: Communication & Collaboration in Project Finance
• Communicating Project Financial Information: Developing effective communication strategies to present financial information clearly and concisely to project stakeholders with varying levels of financial literacy.
• Negotiation & Budgeting for Project Resources: Learning negotiation strategies to secure necessary resources within budget constraints while considering future project needs.
• Collaboration with Finance Teams: Understanding how to collaborate effectively with finance teams to ensure project budgets are aligned with organizational financial goals.
• Project Management Tools & Technology: Exploring how project management tools and technology can be leveraged to enhance financial tracking, budgeting, and communication within projects.
• Group Discussion: Participants engage in a facilitated discussion about the importance of transparency and building trust with stakeholders regarding project finances.
Day 5: The Future of Project Finance & Continuous Learning
• Emerging Technologies & The Future of Project Budgeting: Discussing how emerging technologies like artificial intelligence and big data may transform project budgeting, cost estimation, and financial management practices in the future.
• The Future of Project Management Skills: Identifying the evolving skills and knowledge required for project managers to thrive in a data-driven future with an emphasis on financial literacy and future-oriented thinking.
• Continuous Learning & Staying Updated: Understanding the importance of staying updated on the latest advancements in financial management practices, project management methodologies, and future studies techniques.
• Course Wrap-Up & Action Planning: Reviewing key takeaways from the program, addressing any remaining questions, and discussing ongoing learning and support resources.
• Action Planning: Participants develop personalized action plans outlining steps to implement their learnings within their project management practices. This may involve improving financial analysis skills, incorporating scenario planning into project budgets, adopting new financial modeling techniques, and enhancing communication strategies for project finances.