FINANCIAL & DATA ANALYTICS IN PROJECT MANAGEMENT

Course Overview 

Financial & Data Analytics in Project Management training course explores the principles, strategies, and techniques used for costing and also periodic forecasting of key costs and revenue streams of projects.

As these costs will need to be managed and tracked as key performance indicators in projects, participants will gain a comprehensive understanding of the unique financial structures, risk management approaches, and financial reporting generated by finance department for various projects.

Project managers will need to provide financial costing and estimates essential work packages costs as reasonable as possible to avoid over runs.  The training course provides you with opportunities to learn and develop skills in financial modelling related to Project Finance and also learn to interpret data and monitor project related data analytics.

Course Objectives

On completion of the programme, participants will be able to:-

1. Understand industry structured project management principles like project charter, milestones, documentation of lessons learned.
2. Know how to analyse data based on analytics key financial indicators provided by finance team in view to contribute towards improving organisation’s performance.
3. Equip oneself with knowledge in order to effectively manage costs in project and also propose cost saving or mitigations strategies.
4. Understand the proper finance cost calculation in tender submission processes

Who Should Attend

Professionals, Senior Managers, Managers, Assistant Managers, Senior & Junior Executives who wish to understand, interpret project financials report, perform and review costing for project proposals to ensure achievement of target project Return on Investments (ROI) and other key performance indicators (KPI) analytics

Where appropriate, activities will include the following:

• Lecture & Videos
• Facilitated Group Discussions/Interactions & Gamifed Spot Quiz
• Practical exercises and case studies

Note: Laptop is needed for above learning activities using excel and business Intelligence (BI) tool access

Duration

2 Days (9.00 A.M. – 5.00 P.M.)

Course Content

The key content of the program includes the following:

Module 1: Project Management Fundamentals

• Project Finance vs Corporate Finance
• Key Stakeholders in Project Finance
• Project Management Practices: PMP Framework (PMI), Agile/Scrum Framework and relation of project finance
• Project Governance
• Project Compliance
• Project benefits and business value
• Phases in project management: initiation, planning, execution, monitoring, closure which impacts costs and revenue accounting.
• Legal and Regulatory Framework Governing Contractual Arrangements in Project Finance
• Dispute Resolution in Project Finance

Module 2: Project financials

• Understanding key financial terms for projects -OPEX, CAPEX
• Understanding and generating simple Cost Benefits Analysis (CBA) for project business case
• Project Finance Appraisal Techniques and Applications: Net Present Value (NPV), Internal Rate of Return (IRR), Payback Period for selection of projects

Module 3: Project costing and cost management

• Best practices for revenue Projections, cost Estimations ensuring Project target margin is achieved.
• Detailed Costing and estimation for work packages from top level WBS
• Economic Value Added (EVA) calculation for projects
• Costing methods and structure for decision making
• Identify project cost drivers for cost reduction.
• Different types of cost – fixed, variable costs for calculation of contribution margin.
• Debt and Equity Financing Options
• Sources of Funding for Project Finance
• Case study: Excel hands on exercises for financial modelling and predictive modeling

Module 4: Modelling project risks

• Financial modelling based on what if scenarios based on project risks.
• Risk Allocation Mechanisms Among Project Stakeholders – Contractual Arrangements and Risk Sharing
• Risk Mitigation Strategies
  • Use of Insurance
  • Use of Derivatives for Hedging Project Risk

Module 5: Project Monitoring Techniques

• Importance of data analytics and its purpose in projects
• KPIs in projects and earned value management KPIs
• Understand essentials project profitability reports

1. 1. Project financials variance analysis & how variances are calculated.
   2. Expense analysis using Work Breakdown Structure (WBS)

• Sample case study financial interpretation & group presentation exercise.

Module 6: Dashboarding

• Data visualization reporting do’s and don’ts
• Case study –
  • Dashboarding data and related analytics
    • Part 1, 2 & 3

• Group presentation