The BMTG Masterclass in Financial Management for Projects & Contracts (2 Days)

Masterclass Overview

With increasing competition and focus on corporate earnings, project and contract managers are held accountable, not just for achieving technical and scheduling goals, but also for meeting profitability targets and other cost related measures.

This MasterClass explores the financial metrics that are commonly used and also examines the less frequently thought of financial impact of typical operating decisions and actions. Building on your competencies, you will examine the inner mechanics of how finance and accounting can impact your project.

During this Masterclass you will cover:

  • Key elements of finance and accounting relevant to good project and contract management
  • Time value of money considerations and the importance of cash
  • Evaluation criteria for Requests for Authorisation (RFA)
  • Best practices to manage contact pricing
  • Link risk to costing and performance evaluation

This MasterClass uses a combination of participative seminars, discussions, case studies and problem solving to ensure that delegates learn and develop the confidence to use the various principles and techniques.

Training Methods

  • This two-day MasterClass is a highly interactive and participative workshop that is designed to give senior executives an understanding of and the practical ability to use the key business financial skills to improve their business decision making.
  • The learning approach followed in this MasterClass to introduce the topics with a short presentation, and follow up with short exercises to reinforce the learning.
  • These exercises will be either short games, quizzes or practical exercises all designed to allow participants to fully understand the key financial elements related to project and contract management.

MasterClass Structure

Fundamentals of Finance

  • Financial accounting concepts
  • Generally accepted accounting principles
  • Reading and understanding financial statements
  • Financial analysis
  • Managerial accounting

Project evaluation

  • Time value of money
  • Discounted cash flows
  • Direct vs. indirect costs
  • Fixed vs. variable vs. semi-variable costs
  • Break-even analysis

Contract Profitability - Pricing

  • Pricing strategy and tactics
  • Follow-on business
  • Risk
  • Z score
  • Market structure
  • Follow-on business

Asset Management - Cash Is King

  • Cash
  • Timing of cash flows
  • Accounts receivable
  • Inventory
  • Equipment

Cost Estimating Cost estimating methods

  • Planning and scheduling
  • Making sense of historical data
  • Experience curves
  • Relationship between cost estimating and pricing

 

Benefits of Attending

By Attending This Highly Interactive MasterClass You Will Be Equipped With The Skills To:

  • Communicate more effectively with accounting and financial personnel
  • Read, understand, and analyse accounting and financial data
  • Expand your work in project scheduling and cost control to encompass additional financial metrics and tools
  • Minimise project financial risk
  • Develop and apply tools for comparing project financial returns
  • Understand how finance often drives organisational decisions and evaluations of project performance

 

Who should attend?

This programme provides a user-friendly environment to develop the knowledge and techniques of finance related to project and contract management that are valuable for:

  • Project Professionals
  • Project Managers
  • Contract Professionals
  • Commercial Executives

Plus any Project and Contract Personnel who need to establish a firm understanding of finance would find this programme extremely beneficial.

Trainers

Meet Your MasterClass Director: Jeff Lockhart MBA, DMS, FRSA, FCICM, FCMI, FITOL

JeffJeff Lockhart is an international training consultant, specialising in Finance, Business Administration and Management Development.

Jeff studied at Sheffield Business School in the United Kingdom obtaining a Post Graduate Certificate in Management (PgC) in 1992, a Diploma in Management Studies (DMS) in 1995 and a Masters Degree in Business Administration (MBA) in 1996.

Jeff is a Fellow of the Royal Society for the Arts, Manufactures and Commerce (FRSA), the Chartered Institute of Credit Management (FCICM), the Chartered Management Institute (FCMI), and the Institute of Occupational Learning (FITOL). Mr Lockhart is also a PRINCE2 certified Project Manager.

He is a highly experienced Financial Manager and Management Consultant, with extensive knowledge of finance and business management within a multi-disciplined and multi-cultural environment. He has held several senior level positions for industry-leading international businesses and, since 2001, has operated as a consultant to businesses in the UK, Azerbaijan, Russia, Bulgaria, Kuwait, Oman, Kingdom of Saudi Arabia, United Arab Emirates, Qatar, Malaysia, China, USA, and New Zealand.

 

Upcoming Course Dates *

*Also available In-House
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