Introduction
Projects are planned in any organization to meet the strategic objective of the organization. When an organization makes any investment, it is done keeping in mind that maximum return on investment is received. This becomes very important for the project team to understand the concepts of Project finance which would help them to manage the project better.
This Xcelerate Training Institute course will enhance your knowledge on Project Finance. This course is designed to cover all the aspects of Finance related to projects and project management beginning from initiation to close out of the project.
Learning Objectives
- Understand the importance of projects to the organizational strategy
- Familiarize about how the project cost is calculated and managed during the project life cycle
- Understand the different methods used to calculate and estimate the cost of the project
- Work on methods to understand how the price is calculated for a project and how is it different than the cost of the projects
- Different types of Contracts and their impact on the cost
- Acquire the knowledge of monitoring the actual cost of the project
- Clarify the concepts of Earned Value Analysis
- Methods of Forecasting the project cost
- The best way of communication to be carried out by the project team
Training Methodology
Xcelerate Training Institute Solutions appoints experienced trainers from relevant domains to deliver the training with the help of audio-visual presentations. Since Xcelerate Talent Solutions lays great stress on bespoke training solutions, the course content is thoroughly examined by the trainers before each session to check the relevance to the training audience.
Trainee participation through group activities, tasks, role-plays and case study discussions form an integral part of the training program. Experiential learning is also given equal significance within the format of training.
Benefits For Your Organization
- The team will understand that the project they are working on is linked to the strategic objective of the organization
- The preparation of project cost will be transparent, and the project team will also be involved in the same
- Project Finance will be handled more professionally, and the cash flow will be better managed
- Adherence to all the project management plan and all the components related to it
- Better and effective cost management which would enhance the better management of finance
- Structured communication about Project finances between different parties at all the stages of the project
Benefits For You
- Understanding more about the importance of the project related to organization strategy
- More understanding about how the Project Estimate is prepared
- Clarity of what factors should be emphasized while preparing the Project Estimate
- Project cost allotted at all the stages of the Project life cycle
- Improved attention to details of the costing and scheduling of the project
- Greater confidence when accessing the Budget and Cost Control
- Able to manage the stakeholders better who are in your projects
- Better understanding about different types of contracts
- Enhanced knowledge about Earned value analysis and forecasting Cost
- Amplified skills while closing out of Project
Target Audience
- Any personnel who is a part of a project at any stage
- Senior Project Team member who wants to learn about Project finance
Course Outline
Introduction
- Introduction to Project
- Project Life Cycle
- Difference between Operations and Projects
- Importance of a Project in the Strategic objective of the organization
Cost and Cost Elements
- What does cost constitute;
- Cost categories
- Direct and Indirect Cost, Fixed & Variable Cost
- Cost Accounting
- Cost Trending
- Life cycle costing
Pricing and Costing
- Tools for Pricing
- Pricing Strategy
- Return on investments
- Economic Cost
Cost Categories
- Material
- Labour
- Engineering Designs
- Tools, Machinery and Equipment
Economic Cost
- Types of Cost
- Changes in cost
- Taxes
- Depreciation and Depletion
- Economic Analysis Techniques
Cost Estimation
- Different methods of Cost estimation
- Estimation Accuracy
- Structuring the Estimate
- Managing and Controlling Resources
Cost Calculation for a Project
- Preparing Budget
- Controlling Cost
- Earned Value Analysis
Contracts
- Different Types of Contracts
- Advantages and disadvantages of contracts
Economic Analysis
- Financial and Cash Flow Analysis
- Investment Decision Making