To qualify the students in the project financial and budgets management and to assess the interface between the financial and others project’s areas.
To provide the students the possibilities to understand the cost estimates, financial quantification, etc. The course will also define and present the projects investment concepts and the project selection criteria.
Training content
At the end of the course the student will be able to:
- Compose the project’s financial structure
- Distinguish different types of project costs
- Determine the cost implications in the project scope and schedule changes
- Make the direct project cost / benefit calculation
- Buy different projects through the Net Present Value
- Determine the project Breakeven through the project schedule and budget
- Do a pre-project analysis and determine the investment’s financial viability
More Information
Wish to get more information on the training Cost and Financial Management in projects?
Fact sheet
- Course duration [?]
- 16 hours
- Number of participants [?]
- Minimum 20 students per class
- Target audience
- Project managers, project team members, PMO members, cost managers, buyers and others stakeholders interested in the project management process.
- Requirements
- Desirable project management knowledge.
- Language(s) [?]
- Portuguese, English and Spanish
- Local
- Provided by the contractor. Worldwide attendance.
- Certification and PDU [?]
- All training participants will receive a participation certificate with 16 PMI's PDUs.
(PMI R.E.P. activity number: Macro006)
Teaching Methodology Top ↑
Macrosolutions had developed the market's most awarded dynamics, concerning the projects training.
In this course, the following dynamics will be used:
- My Cooking Project
- Dynamic based on the elaboration of a quick dinner for guests to demonstrate the importance of establishing the appropriate strategies for managing the project and the inherent risks to every decision making and also to the manager risk profile. More.
- Case studies
Ricardo Vargas throughout his career as a project manager and an expert in that area has selected a relevant set of case studies and exercises that allow the participants to associate real and fictional cases the to daily work.
All case studies are appropriate to the nature of the client and the training audience.
- Videos selection
In order to facilitate the student learning, videos that cover various parts of movies, commercials, home videos, etc. are used in the classroom environment to fix concepts and associate technical issues with the reality of work and also to introduce new concepts.
They are short videos with direct focus on specific topics, tools and cases.
- Group Work
Several studies and exercises will be proposed by the instructor in order to present a particular topic or discuss a particular approach to project management.
Throughout the training the teamwork will be encouraged and strengthened as a mean for the group to learn.
- Simulators
To discuss some mathematical and statistical approaches, the instructor will perform specific mathematical simulations to estimate the expected results for the risks, schedules, costs, among others. They are computational methods that use mathematical concepts, operational research and statistics as a conceptual basis.
- Learning Exercises
During the training, students perform concepts retaining quick exercises. Usually the exercises are quick and direct and involve some kind of mathematical calculation.
Courseware
The courseware to be received by the students will consist of slides, articles and lists of exercises, and it may also contain the following special products by Ricardo Vargas:
- Book Project Management: Establishing Competitive Advantages
- Book Practical Guide to the Project Plan
- 5 Minutes PM Videocast. Practical classes with Ricardo Vargas. DVD distributed worldwide by Microsoft that celebrates the Microsoft Project 2010 launch.
Exclusive student access area
In addition to the exclusive printed material, all participants will have access to the courseware’s electronic version, to the files of exercises and to the work done in the classroom.
The access is given through the restricted site that is available and prepared by the Macrosolutions team considering each course that we provide.
This initiative is a pioneer in the educational market and also anticipates trends related to the documents’ electronic management
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Training basic program
- ‣ Course opening
- 1. The context of project financial management
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- Presentation
- The different types of costs
- Income
- Price formation
- Operating profit
- 2. The relationship between quality x costs x schedule
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- Direct relationship
- Priority differences among projects
- Cost x Time relationship
- Cost x Performance relationship
- 3. The Project Phases
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- The 5 project phases
- The 5 project phases
- The overlapping of phases in the PMBOK
- The interference of the phases in the project cost management
- The 42 processes that constitute the PMBOK – 4th Edition
- 4. The Project Cost Management processes
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- Cost estimating
- Budgeting
- Cost Control
- 5. Cost Estimating
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- Detailed estimating
- Analogy
- Parametric
- Monetary adjustments
- 6. Qualitative Financial Management Tools and Project Selection Tools
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- Project selection
- Present value
- Benefit cost analysis
- Net present value
- Break-even point
- Fast tracking
- 7. Cost control, in Investment Projects
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- Definition
- Order of magnitude control
- Pre-project analysis
- Price formation in investment projects
- ‣ Course close-out
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Supported standards and methodologies
Project Management Institute (PMI) PMBOK Guide Yes PMI Practice Standard for Estimating Yes PMI Practice Standard for Earned Value Management Yes PMI Practice Standard for Configuration Management — PMI Practice Standard for Risk Management — PMI Practice Standard for Work Breakdown Structure Yes PMI Practice Standard for Scheduling Yes PMI Standard for Portfolio Management — PMI Standard for Program Management — PMI Project Manager Development Competency Framework — Organizational Project Management Maturity Model (OPM3®) — UK Office of Government Commerce (OGC) PRINCE2 (Projects in Controlled Environments) Yes MSP (Managing Successful Programmes) — M_O_R (Management of Risks) — P3M3 (Portfolio, Programme, and Project Management Maturity Model) — P3O (Portfolio, Programme and Project Offices) — MoP (Management of Portfolios) — MoV (Management of Value) — Scrum Alliance Scrum Methodology — International Project Management Association (IPMA) ICB® IPMA Competence Baseline —