Every project manager needs to be financially-savvy to ensure they are making the best decisions for their project. This goes beyond managing to a budget for the project. This includes creating project budgets, analyzing the viability of a project budget supplied to you, budgets, and understanding the connection between project budgets overall organizational financial plans. When you understand financial concepts, you are in a better position to recognize opportunities for managing costs and enabling for the project you are leading to contribute positively to the bottom line.
This workshop will increase your comfort level in reviewing and interpreting financial and budget information and use that understanding to make decisions on your project and have more effective conversations with sponsors regarding project budget deficiencies. You’ll be able to gain faster approval for project ideas and changes when you present the information in financial terms so a decision can be made at the leadership level.
Topic covered include:
- Accounting and Finance Basics
- Understanding the Accounting Cycle
- The Link between Project Budgets and Organizational Budgets
- Understanding where your project budget fits into the big picture
- Cost Accounting
- Fixed vs Variable Costs
- Budgeting Basics
- Making Better Budget Decisions
- Using Financial Tools to Make Better Project Decisions
Bring a calculator to the workshop.
Applies Towards the Following Certificates
- Project Management : Electives