Financial Management for Projects & Contracts Conference

Introduction:

With the competitive landscape intensifying and corporate earnings under the microscope, the roles of project and contract managers have evolved to include a greater emphasis not only on delivering on technical and scheduling objectives but also on ensuring that profitability targets and cost-related benchmarks are met.

This professional project, contract, and financial management conference delves deep into the financial metrics that drive business decisions, providing insights into operational choices' overt and subtle financial impacts.

Through this exploration, participants in this project, contract, and financial management workshop will better understand financial management's intricacies and how they intersect with project success.

Advanced Project, Contract, and Financial Management:

This advanced project, contract, and financial management conference is poised to guide attendees through the nuances of financial project management, bridging the gap between standard project management practices and sophisticated financial strategies.

Participants in this project, contract, and financial management seminar will learn advanced techniques for enhancing contract profitability, optimizing financial project management, and fostering comprehensive comprehension of financial statements and metrics.

Targeted Groups:

• Project Managers.
• Project Management Staff.
• Project Cost Controllers.
• Finance Professionals.
• Contracts Professionals.

Conference Objectives:

Participants attending this project, contract, and financial management conference will be equipped to:

• Communicate with accounting and financial personnel with greater efficacy.
• Interpret and assess accounting and financial data with confidence.
• Integrate sophisticated financial metrics and tools in project scheduling and cost control.
• Minimize financial risks associated with projects.
• Craft and utilize analytical tools to compare financial returns on projects.
• Recognize the influence of finance on organizational decision-making and project performance assessment.

Targeted Competencies

Target competencies attending this project, contract, and financial management training will be equipped to:

• Financial awareness.
• Project management.
• Risk management.
• Cost control.
• Grasping the concept of value.

Conference Content:

Unit 1: Fundamentals of Finance:

• Financial accounting concepts.
• Generally Accepted Accounting Principles (GAAP).
• Reading and understanding financial statements.
• Financial analysis techniques.
• Managerial accounting principles.
• Considerations in developing business cases.
• Weighing cost versus revenue implications.
• Profitability measures.
• ROS.
• ROA/EVA.
• ROE.
• Investment metrics such as Internal Rate of Return (IRR).
• Understanding the time value of money.
• Concepts of discounted cash flows.
• Direct versus indirect costs.
• Fixed versus variable versus semi-variable costs.
• Principles of break-even analysis.

Unit 2: Contract Profitability - Pricing:

• Strategies and tactics for effective pricing.
• Planning for profitability.
• Cost estimating methodologies.
• Variations in pricing:
• Cost-based pricing.
• Market-based pricing.
• Value-based pricing.
• Setting profit objectives.
• Analyzing market structure.
• The importance of follow-on business.
• Risk assessment.
• The Z score is a measure of financial health.

Unit 3: Asset Management - Cash is King:

• The crucial role of cash.
• Cash flow timing.
• Optimization of accounts receivable.
• Inventory management strategies.
• Management and upkeep of equipment.
• Best practices in revenue recognition.
• An overview of financing arrangements.

Unit 4: Terms and Conditions (Ts & Cs) - Best Prices:

• The interplay between value, cost, and risk.
• Ts and Cs that are favorable to asset management.
• Identifying and mitigating unfavorable Ts and Cs.
• Metrics for evaluating Ts and Cs impact.

Unit 5: Cost Estimating - What Works Best:

• A comparison of cost-estimating methods.
• Integration of planning and scheduling.
• Utilizing historical data effectively.
• Understanding experience curves.
• The relationship between cost estimating and pricing strategies.