Financial Management for Projects & Contracts
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This course equips participants with the financial tools and techniques needed to manage project and contract finances effectively. It covers budgeting, cost control, financial analysis, and contract financial management to ensure project success and profitability.
Objectives
By the end of this course, participants will be able to:
- Understand the financial principles of project and contract management.
- Develop accurate project budgets and forecasts.
- Monitor project financial performance and control costs.
- Analyze financial risks and opportunities within contracts.
- Ensure financial compliance and reporting accuracy in projects.
Who Should Attend?
- Project managers and financial controllers
- Contract managers and procurement professionals
- Finance professionals involved in project management
- Anyone responsible for budgeting, cost control, and financial reporting in projects
Course Outline
Day 1: Introduction to Financial Management in Projects
- Financial principles and concepts for project management
- The role of finance in project and contract success
Day 2: Budgeting and Forecasting for Projects - Developing detailed project budgets and cost estimates
- Forecasting techniques for project financial performance
Day 3: Cost Control and Financial Monitoring - Tools and methods for tracking project costs
- Variance analysis and financial reporting
Day 4: Contract Financial Management - Managing financial aspects of contracts and subcontracts
- Evaluating contract terms and conditions from a financial perspective
Day 5: Financial Risk Management and Compliance - Identifying and mitigating financial risks in projects
- Ensuring compliance with financial regulations and standards