Project Financial Management

by John Taylor
access120 days access
cpd hours4 CPD hours

This course will enable you to:

  • Understand the various stages of planning and implementing a project
  • Predict and prevent problems during a project
  • Review, revise and update financial models
  • Anticipate revised outcomes and report them to management

As a finance manager you are familiar with creating budgets, forecasts and monitoring against a budget. But do you have what it takes to take on the financial management of a project?

This course provides an overview of the role and responsibilities of a project finance team throughout the different stages of planning and implementing a project. It explores how you anticipate and prevent problems that may arise during the course of a project, and result in overruns and helps you recognise time delays that could prove costly.

It looks at a range of techniques that are useful to the project finance team throughout the different stages of a project. You will end up with a set of tools you will need to review, revise and update financial models, anticipate revised outcomes and report to management.

Approaches and documentation

  • What is the role of a project finance team?
  • Why do projects fail?
  • What are the main approaches to project management?
  • What is a project initiation document?
  • What is a project management plan?
  • What is a work breakdown structure?
  • What are the inputs and outputs of the WBS?
  • What should a completed WBS include?
  • What do you need to consider if the project is a joint venture?

Cost estimates and budgets

  • Why should the finance team evaluate tenders?
  • Why is it important to communicate with the technical team?
  • What is a cost management plan?
  • What do you need to consider when estimating costs?
  • How do you review the reliability of cost estimates?
  • How do you prepare budgets?
  • What calculations do you need to know?
  • How do you account for the cost of funding the project?
  • What do you need to know about the project management software?

Time management and delays

  • Why is time management important?
  • What is a Gantt chart?
  • What is critical path analysis?
  • What are the key components of a CPA diagram?
  • How do you draw a CPA diagram?
  • How do you deal with time delays?
  • What is the critical chain method?
  • How might the critical chain method affect costs?
  • What is a reason code analysis?
  • What are the financial effects of time delays?

Risk, uncertainty and financial performance

  • What are the principles of managing risk and uncertainty?
  • What is the Monte Carlo analysis?
  • What are key performance indicators?
  • How should you manage financial information?
  • What is earned value management?
  • How do you monitor cash flow?
  • What are the overall objectives of the finance project team?

John is a Chartered Accountant who spent many years advising small and medium-sized businesses across the North of England. He specialised in dealing with the particular problems faced by large family-owned companies. John joined Bradford College where he taught a wide range of students from diverse backgrounds and with varying levels of ability. John later joined Leeds Met University where he specialised in teaching auditing on ACCA professional courses and Forensic Accounting at Masters level. He is now a freelance author and lecturer.

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ACCA partner with to provide high quality CPD for members. As an ACCA member, you are required to complete at least 40 relevant units of CPD each year, where one unit is equal to one hour. 21 units must be verifiable; the other 19 can be non-verifiable.

Verifiable CPD
Your course counts as verifiable CPD, if you can answer "yes" to these questions:

  1. Was the learning activity relevant to your career?
  2. Can you explain how you will apply the learning in the workplace?

You select courses that meet these criteria, and as you complete each course you get a CPD certificate so you can provide ACCA with the evidence that you undertook the learning activity.