Apply finance concepts for smart project management
4.2 (308 ratings)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
5,690 students enrolled

Apply finance concepts for smart project management

Learn to read financial statements and make meaningful interpretations for business decisions in the age of big data.
4.2 (308 ratings)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
5,690 students enrolled
Created by Shilpa Khire
Last updated 11/2017
English
English [Auto]
Current price: $13.99 Original price: $19.99 Discount: 30% off
5 hours left at this price!
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This course includes
  • 2.5 hours on-demand video
  • 2 downloadable resources
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
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What you'll learn
  • Understand the basics of financial statements that are useful for a project manager.
  • Understand the important financial concepts useful in business.
  • Use these financial analysis techniques in an innovative manner in the age of big data.
  • Learn various project evaluation techniques such as Net Present Value (NPV), Return on Investment (ROI), Pay Back Period and how to apply them for making the right business decisions.
  • Learn how to keep a track of your project by proper forecasting, budgeting and variance analysis.
Requirements
  • There are no pre requisites to attending this course. Anyone who wants to understand about financial statements can take this course. But more specifically, this course is extremely useful to the following categories of people :
  • 1. Business managers, project managers who want to take the help of financial statements for important business decisions.
  • 2. Enterpreneurs who want to pitch their idea to to investors, venture funds can use financial statements to justify their proposition.
Description

What do you do when you have to present a comparative project profitability to your boss? Can you have a quick glance at the financial statements of your company or your project and talk about the the ROI, gross margins, net margins? Can you quickly spot the places where your project needs improvement? If you face all these questions, you have come to the right place. In this course, we will learn:

1. How to speak the language of finance.

2. Learn to understand financial statements and make a meaningful interpretation of effective business decisions.

3. Understand various project evaluation techniques such as Net Present Value, Internal Rate of Return, Earned Value Analysis, Pay Back Period and many others.

4. Use these techniques to compare your company or project with the rival company or projects

5. Carry out budgeting, forecasting and variance analysis at each step of the project.

6. Use financial data to defend budget requests.

7. Avoid running out of cash.

8. Avoid putting too much faith in the numbers.


Who this course is for:
  • This course is mainly intended for project managers, business managers and any other non technical executives who would like to learn the use of financial statements for making smart business decisions.
  • Anyone who would like to use financial data analysis techniques in the age of big data for evaluating the quantitative impact on various projects.
Course content
Expand all 29 lectures 02:19:28
+ Understand and apply financial concepts for making effective business decisions
8 lectures 37:42

In this lecture, the students will understand about the course structure and its objectives in detail.

Preview 03:26

In this lecture, we will look at the different types of financial statements and also understand the different areas in which this knowledge can be useful to the project manager.

Preview 04:20

In this lecture, we will understand

1. What is a Balance Sheet

2. What are its different components

3. How is it prepared

4. How is it useful to a project manager.

Understanding Balance Sheet
03:29

In this lecture, we will understand broadly about the Profit & Loss statement and its main components.

Understanding the Income Statement - Part 1
02:17

In this lecture, we will look at the expanded version of the Profit & Loss account, understand how it is prepared and study every line item in detail.

Understanding the Income Statement - Part 2
04:51

This is practical case study where we will be applying the concepts studied in the last lecture and understand how a project manager was able to achieve a reduction in the headcount using his financial knowledge - The P&L statement.

Case study - Avoid reduction in headcount using P&L statement
08:10

We will look at the different ways of measuring the growth or profitability of a project. E.g. revenue growth, increase in the profit margin etc.

Understanding growth or profitability measures
05:53
+ Ratio Analysis, Cash Flow and other Profitability Measures
4 lectures 19:02

This lecture shares some practical tips to help a project manager improve the cash position of his business and thereby improve profitability.

How to improve the cash flow position of a project ?
05:08

This is a very important concept that can be useful to managers at all times. Return on Investment will help managers to explain their current project returns or justify a new business idea.

Return on investment (ROI)
04:47

Capex and Opex are are two commonly used terms in businesses. These terms are used very often by the management and may be extremely confusing to non finance managers. Understanding these terms will help the manager to put up a very effective case for budget sanction in front of his boss.

Preview 04:35

A very practical discussion of various day to day business scenarios and how to overcome them using financial knowledge which we have acquired in this course.

Case studies to help you solve everyday practical problems in workplace
04:32
+ Project Evaluation Techniques
11 lectures 40:59
Project Evaluation Techniques - introduction
02:55
Present Value
04:32
Understanding discount rate
02:41
Net Present Value
05:03
Opportunity Cost
03:06
Internal Rate of Return
04:41

Students will learn how to calculate Cost Benefit Analysis (CBA) and how to analyze projects using this method.

Cost Benefit Analysis
03:05

Students will learn how to calculate the pay back period for any project investment with the help of an example along with the  pros and cons of this method.

Pay Back Period
03:01
Earned Value Analysis
02:43
Earned Value Analysis - calculation of variances
04:38
Earned Value Analysis - calculation of performance index
04:34
Project Evaluation Techniques
3 questions
+ Forecasting, Budgeting and Variance Analysis
6 lectures 41:45
Forecasting, Budgeting and Variance Analysis - Introduction
03:44

Students will understand how forecasts are prepared at the top level. Having an understanding of how these forecasts are prepared will help managers to meet their revenue targets.

Forecasting
06:08

Students will understand how to prepare budgets for a project. They will understand the difference between direct and indirect costs and how a proper allocation of costs can help in keeping costs under control.

Budgeting
06:26

Students will understand how preparation of a proper budget can make the process of variance analysis very easy.

Variance Analysis
03:08
Case Study - Project Evaluation Techniques
13:44
Using Excel for calculation of PV,NPV and IRR
08:35