Objective of finance training for Project Managers and non-financials.
ECS offers this one-day online Essential Finance Training for Project Managers and Non-Financials course to provide non-financial and project managers with a sound understanding of finance principles and tools, enabling them to make informed financial decisions and contribute effectively to project success.
Course approach:
The virtual (online) course incorporates a mix of lectures, interactive discussions, case studies, and practical exercises to ensure active engagement and practical application of finance concepts in the context of non-financial and project management roles.
Lecturers:
Brett Morse is a Chartered Accountant with over 25 years of experience in financial services, project management, and management consulting.
Mohammed Bhamjee is a Chemical engineer with over 15 years of experience in project management, engineering, and management consulting.
Cost:
R3 350 excl vat per delegate or R3 000 excl vat per delegate for 3 or more from the same organisation
Content of finance training for Project Managers and non-financials:
Session 1: Introduction to Finance Basics (1 hour)
1.1 Overview of Finance
Importance of finance in business
Key financial terms and concepts
1.2 Role of Non-Financial and Project Managers in Finance
Understanding the impact and importance of financial decisions on projects
Importance of financial literacy in managerial roles
Session 2: Financial Statements Decoded (2 hours)
2.1 Understanding the Balance Sheet
Assets, liabilities, and equity
Reading and interpreting balance sheet components
2.2 Deciphering the Income Statement
Revenue, expenses, net income, amortisation & depreciation
Analysing income statement for performance assessment
2.3 Cash Flow Statement Essentials
Operating, investing, and financing activities
Cash flow implications on project decisions
2.4 Practical exercise
Session 3 – Financial Ratios and Analysis (1 hour)
3.1 Liquidity Ratios
Current ratio, quick ratio
Application in project management
3.2 Profitability Ratios
Return on investment, profit margin
Evaluating project profitability
3.3 Leverage and Solvency Ratios
Debt-to-equity ratio, interest coverage
Impact on project financing decisions
Session 4: Budgeting and Cost Control (2.5 hours)
4.1 Introduction to Budgeting
Importance of budgeting in project management
4.2 Creating and Managing Budgets
Budget development process
Monitoring and controlling project costs
4.3 Variance Analysis
Understanding and interpreting variances
Strategies for effective cost control
Approved and unapproved changes
Session 5: Case Study (0.5 hour)
5.1 Real-life Scenario
Application of finance concepts in a project-related situation
5.2 Q&A and Wrap-up