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Apply finance concepts for smart project management
Rating: 4.0 out of 5(352 ratings)
5,821 students
Created byShilpa Khire
Last updated 11/2017
English

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.

Course content

4 sections • 29 lectures • 2h 41m total length

  • Introduction and course outline3:26

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

  • Understanding Financial Statements4:20

    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.

  • Understanding Balance Sheet3:29

    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 the Income Statement - Part 12:17

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

  • Understanding the Income Statement - Part 24:51

    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.

  • Case study - Avoid reduction in headcount using P&L statement8:10

    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.

  • Understanding growth or profitability measures5:53

    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.

  • Cash profit is not equal to book profit and why do we need both?5:16

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.

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