Overview

Effective financial management is essential for the success of any project, ensuring that all financial resources are used efficiently to achieve project objectives. Non-financial managers play a crucial role in managing finances within their business functions, which underscores the importance of acquiring essential financial skills.

This five-day training program on project financial management for non-financial professionals aims to equip these managers with a foundational understanding of key financial principles and enhance their financial decision-making abilities in today’s dynamic business environment. This course will enable managers to recognize how their decisions impact the financial performance of their organizations.

Program Objectives

• Understand the principles, techniques, and practices of financial management in project contexts.
• Apply budgeting principles effectively to manage project finances.
• Evaluate and utilize different budget forms and financial tools.
• Monitor and control project expenditures.
• Prepare for financial uncertainties and emergencies.

Learning Outcomes

By the end of the training you will be able to:

• Understand the sources and availability of financing for an organization.
• Familiarize yourself with relevant financial information within the organization.
• Plan, develop, implement, and control the budget.
• Analyze financial statements to assess performance.
• Implement effective cash management practices.
• Comprehend how various business decisions impact the organization’s performance.

Target Delegates

This Project Financial Management seminar is perfect for project managers, team leaders, and professionals engaging in project management without a financial background, yet who need to effectively manage project finances.

Planned Program

Day 1: Financial Management in NGOs

• Foundations of financial management
• Importance of financial management in projects
• The finance function and its relation with other business functions
• Project financial management cycle
• Good practice systems: the building blocks of financial management
• Key supporting policies and standards

Day 2: Project Financial Planning and Project Budgeting

• The Financial planning process
• Functions and types of budgets in projects
• Practical approaches to building good project budgets
• Donor budget regulations/requirements
• Budget change/modifications

Day 3: Cash Flow Management

• Cash flow forecasting
• Consolidated budgets and budgeting for core costs
• Elements of cash flow
• Cash Vs Profit
• Managing cash
• Bank Accounts management
• Project payments supporting documents

Day 4: Cost Management

• Use of cost data in decision making
• Types and Elements of Costs
• Cost Structures and Methods – Costing services and products
• Procurement
• Project cost allocations
• Administrative cost allocations

Day 5: Financial Reporting in Projects and Measuring Financial Performance

• Principles and Objectives of Financial Accounting
• Types of Accounts
• Financial Statements: Income Statement, Balance Sheet, Cash Flow Statement
• Financial ratios
• Budget monitoring
• Cash flow monitoring

Training Approach

This training is delivered by our experienced trainer who is an expert in his respective fields. The instruction includes a combination of practical activities, presentations, group work, and case studies. Participants will also receive training notes and additional reference materials.