Project economics, 2 day course

Background

A sensible account plan must be built, and grants need to be controlled. A budget must be established, ordering and invoicing must be controlled. Only few companies have strong project accounting in their financial system. In reality, this often results in individually created Excel models being used.

Purpose

The participants are given an understanding of what is needed to create an overview and manage the project economy, as well as the methods for building and following up on project accounting.

Content

In order to learn and understand the principles and terms of project economy, the participants themselves have to work out a complete project account plan using professional tools.

The basic accounting principles will be presented along with important parameters such as liquidity, financing and yield.

We will also examine common ways of analysing the project economy of larger projects by calculating e.g. Net Present Value (NPV) and Return on Investment (RoI). A short explanation will be given on how to make project calculations and experience databases.

The course will focus on the following subjects:

• Building a plan for project accounting
• Working out a complete set of project accounts
• Going through the basic principles of company accounting and the important parameters
• Performing economic analyses for a project
• Working out project calculations and experience databases

Target group

Project employees who create budgets and control expenditures and who are responsible for economic decisions and analyses, or who communicate with people making economic decisions.

Requirements

It is a prerequisite that the participants have basic understanding of project management. Knowledge of economy management tools is not a necessity.

Fee

The course is only offered as company specific training. Please contact us for more information on prices and booking.