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Project Financial Management: Learning Outcomes

This course offers a comprehensive approach to understanding the importance of financial management in managing projects and programs

General Description:

This course is designed to equip project managers with the critical skills and knowledge required to effectively manage resource costs associated with their projects while delivering quality outcomes on a timely basis.  Specifically, the course introduces a number of management accounting concepts and techniques that can be used to analyze how projects consume resources, create value for a firm and its customers, and how this value may be enhanced. During this course students should learn accounting concepts and the accounting cycle as they apply to projects, understand and analyze financial statements, plan and manage project revenue and cash flows, engage in project budgeting and project cost control including variance analysis, analyze project financing options, and evaluate capital investment projects.  

Learning Outcomes

Upon successful completion of this course students will be able to:

  • Explain the role of accounting as an information system and its use to make economic decisions;
  • Explain cost concepts, undertake cost estimation and cash flow forecasting for a project and subsequently translate this into project budgets and plans;
  • Apply management accounting tools for project cost and budgetary control, as well as performance evaluation;
  • Manage project cash flows and analyse financial statements;
  • Learn independently and to assume responsibility for the learning process;
  • Learn within teams – to co-operate with team members, to assume leadership and to manage differences and conflicts