Project Scheduling, Cost Planning & Accounting Skills

ICTD International Centre for Training and Development

ICTD International Centre for Training and Development

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Who should attend

Executive & Section Head level in the company

About the course

After completion of this training program, delegates will be able to:

  • Grasp a thorough understanding of the wide range of financial terms and concepts
  • Apply the financial concepts and policies behind the management decision processes
  • Recognize the impact of effective working capital management on company cash flow
  • Control business operations through effective budget management and be able to assess and control the impact of day-to-day business activities on a company’s profitability
  • Communicate effectively with financial executives and top management and be able to interpret and analyze financial statements
  • Understand the project, the process & the manager
  • Understand how you involve people in your project
  • Defining exciting project outcomes
  • Motivating the project management team
  • Communication as a project management tool
  • Practical tools and techniques
  • Moving projects on to a successful outcome
  • The course has developed in order to plan, co-ordinate and control the complex and diverse activities of modern industrial and commercial projects.
  • The purpose of this course is to foresee or predict as many dangers and problems as possible; and to plan, organise and control activities so that the project is completed as successfully as possible in spite of all the risks.

## Course Outline

Overview

  • What is Accounting
  • Concept and Importance of Finance
  • Elements of Finance
  • Risk & Return Parameters

Review of Financial Terms and Concepts

  • Determining the structure of Financial Statements
  • Relating the income statement to the balance sheet and cash flow statement
  • Budgeting Process

Overview of Time Value of Money

  • The Interest Rate
  • Simple Interest
  • Compound Interest
  • Amortizing a Loan
  • Compounding More Than Once per Year

Financial Statements

  • The Income Statement
  • Defining Revenue, Cost of sales, Gross Profit
  • The conceptual nature of profit
  • Differentiating between capital & revenue expenditures
  • The effect of inventory valuation on profitability
  • Overhead and Administrative expenses

The Balance Sheet

  • Subcomponents of Assets, Liabilities and Equity
  • Distinguishing between Fixed and current assets
  • Intangible assets (Good well, etc.)
  • Depreciation and amortization
  • Provisions, Reserves, Accruals, & prepayments

Analysing and interpreting statements

  • Utilising appropriate ratios to ascertain financial strength and viability
  • Anatomy of the return on Investment
  • Evaluating levels and ratios of liquidity, efficiency and profitability
  • Assessing leverage levels
  • Assessing and evaluating capital & cost structure
  • Market value ratios
  • Vertical, Horizontal & Trend Analysis

Cash Flow Statement

  • Reconciling the differences between profit & cash
  • Identifying the key elements of the cash flow statement
  • Determining cash inflows & outflows for operating/investment/funding activities

Working Capital Management

  • Forecasting future cash flow
  • Controlling inventory levels
  • Managing receivables and payables
  • The dangers for over-rapid expansion

Cost Planning

  • What is management accounting?
  • Collecting and analyzing costs
  • Types of cost analysis: by type, by location, by behavior, by purpose
  • What are overheads, and how should we analyze them?
  • What is the Cost of Production - Marginal and Total Costing explained
  • What is inventory, and how does it affect the cost of production?
  • Methods of valuing inventory – FIFO, LIFO, and AVCO explained
  • How to measure the break-even point and the margin of safety

Budgeting

Setting Budgets

  • Why do we need Budget?
  • Working within the context of the strategic plan
  • Forecasting sales & revenues
  • Calculating cost of sales and overhead
  • Creating the master budget

Monitoring Budgets

  • Actual vs. Budget
  • Calculating & Interpreting variances
  • Diagnosing the causes of variances

Capital Budgeting and Valuation

  • Concept of capital budgeting
  • Determining initial costs
  • Valuation Techniques
  • Capital Budgeting Methods:
  • Average Rate of Return
  • Payback Period PBP
  • Net Present Value NPV
  • Profitability Index PI
  • Internal Rate of Return IRR

Project Scheduling

  • What is and what is not project?
  • How are projects different from operations?
  • What is a project manager?
  • What are the essential skills of the project manager?
  • Why project fail / success?
  • Terms project manager use (Top 10)
  • What is the project management?

Project Management Framework

Project Life cycle

  • Project Definition
  • Project Planning
  • Project Execution
  • Project Closing

Competing project constraints

  • Time - Resources
  • Cost - Quality
  • Scope - Risk

  • Project and strategic planning

  • Multi-phased project

  • Project Milestone

  • Project Deliverables

  • Project Scheduling Using M.S. Project

  • Gant Chart

  • Pert

  • Floating

  • Critical Path Method (Crashing, Fast Tracking)

  • What is Scenario analysis?

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Project Scheduling, Cost Planning & Accounting Skills at ICTD International Centre for Training and Development

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