Management Adv Services
There are no prerequisites

Course Description

Through better project management, you can reduce or eliminate failed projects and reduce the costs associated with successful ones, increasing enterprise effectiveness in providing the maximum value to shareholders. This course is designed to provide you with a deep understanding of the applications and importance of project management. You will learn how to assess a project with respect to time, costs, and resources in order to effectively and efficiently reach your goals. In addition, you'll learn become familiar with the five processes involved in project management that are essential to being an expert project manager.

This course generally follows the framework within the Project Management Institute's Project Management Body of Knowledge (PMBOK). The material, however, places a financial focus on projects as a way to accomplish desired changes in the enterprise in a coordinated and predictable way for favorable outcomes. Topics covered include economic feasibility, life-cycle costing, target costing, and earned value analysis.


Delta Publishing

For many years, Delta Publishing has offered a wide variety of continuing education courses for financial professionals. Topics covered by Delta’s courses include accounting, financial management, budgeting, investments, financial statement reporting, business management, IFRS, ethics, valuations, real estate, and business writing. The diversity and breadth of Delta’s course offerings make the company a prolific and unique contributor to the CPE world. Delta’s well-credentialed authors and contributors have also been published in numerous academic and professional journals and quoted by some of the leading financial media outlets.

Course Specifics

Management Adv Services
Jul 26, 2017
There are no prerequisites

Compliance Information

Qualifies for CA Fraud: No

Learning Objectives

Upon successful completion of this course, participants will be able to:

Chapter 1

  • Summarize the steps involved in managing a project
  • Describe what the PMI is and what they do
  • List the nine knowledge areas and briefly describe what each is

Chapter 2

  • List key questions to be asked when it comes to planning and controlling a project
  • Conduct the initial meeting
  • Assemble the project team
  • Put together a feasible budget
  • Describe how to obtain senior management buy-in
  • Detail time-schedule preparation
  • Outline project scorecard metrics
  • Terminate the project

Chapter 3

  • Define a project and list its attributes
  • Outline the key constraints within which a project must be managed
  • Describe how a project is 'born'
  • Define a project life cycle
  • Explain the steps involved in the project management process
  • State the benefits of project management

Chapter 4

  • Diagram WBS and its levels
  • Explain how to use the WBS
  • Assign responsibility
  • Estimate time, costs, and resources
  • Reach consensual estimating

Chapter 5

  • Define a Gantt chart
  • Define dummy activity
  • Compute the Critical Path
  • Compute the earliest start time, the earliest finish time, the latest start time, and the latest finish time
  • Define and explain the PERT/COST and the Critical Path Method (CPM)
  • Discuss the concept of crashing
  • Select the most appropriate project management software

Chapter 6

  • Outline the characteristics of a project control system
  • Diagram the steps in the project control process
  • List what the project review report should contain
  • List certain factors that are believed to be critical to project success

Chapter 7

  • Explain why some projects overrun the budget
  • Develop cost estimates and project budgeting
  • Outline the project budgeting process
  • Perform earned value analysis
  • List and describe popular cost performance metrics
  • Control costs
  • Manage cash flow
  • Discuss how software assists project management

Chapter 8

  • State why a life cycle costing approach is appropriate for project costing
  • Construct the life cycle budget
  • Explain the target costing process for a new product
  • Differentiate between cost-plus pricing and target pricing

Chapter 9

  • List and describe the types and special features of capital budgeting decisions
  • Discuss the time value of money concept
  • Calculate, interpret, and use four project evaluation techniques
  • State how income tax factors affect investment decisions
  • Calculate after-tax cash flows - initial outlay, differential cash flows, and terminal cash flow
  • Discuss the effect of MACRS (Modified Accelerated Cost Recovery System) on capital budgeting decisions
  • Determine the cost of capital
  • Conduct an economic feasibility study for a new information system project

Chapter 10

  • Describe the goal of project risk management
  • List and illustrate each of the risk analysis tools for project management
  • Explain, step by step, how to perform a simulation for project risk analysis

Chapter 11

  • Describe suggestions for enhancing personal communications, such as face-to-face discussions, phone conversations, letters, and memos
  • Outline various types of project meetings and suggestions for effective meetings
  • List formal project presentations and suggestions for effective presentations
  • List and explain project reports and suggestions for preparing useful reports

Table of Contents

Chapter 1 – Overview of Project Management

Learning Objectives

The Steps in Managing a Project

Define the Problem

Develop Solution Options

Plan the Project

Execute the Plan

Monitor and Control Progress

Close the Project

Exhibit 1

The Steps in Project Management

The Project Management Body of Knowledge (PMBOK®)

Chapter 1 Review Questions

Chapter 1 Review Question Answers and Rationales

Chapter 2 – Planning and Controlling Projects

Learning Objectives

Key Questions to be Asked

Conducting the Initial Meeting

Assembling the Project Team

Team Assignment

Job Assignment

Delegating Duties

Conflict Resolution

Self-Directed Work Teams

Obtaining Senior Management Support

Developing a Feasible Budget

Detailed Time-Schedule Preparation

Project Scorecard

Terminating the Project

Chapter 2 Review Questions

Chapter 2 Review Question Answers and Rationales

Chapter 3 – Project Management Concepts and Process

Learning Objectives

Project Life Cycle

Types of Contracts

The Project Management Process

Benefits of Project Management

Chapter 3 Review Questions

Chapter 3 Review Question Answers and Rationales

Chapter 4 – Using the Work Breakdown Structure to Plan a Project

Learning Objectives

A Simple Example

Guidelines for Developing the WBS

Uses of the WBS

Consensual Estimating

Improving Estimating Ability

Chapter 4 Review Questions

Chapter 4 Review Question Answers and Rationales

Chapter 5 – Project Scheduling

Learning Objectives

Project Scheduling Models

Gantt Charts

Program Evaluation and Review Technique (PERT)

Rules of Network Construction

Summary of PERT Procedure

Steps to be Followed in Determining the Critical Path

The Critical Path Method (CPM) Model:  PERT/COST

Normal Solution

Normal Time Solution CPM Network

Crash Solution

Determination of Minimum-Cost Crash Solution

Management Use of CPM

Computer Software for Project Management

Below is a sample list of project management software.

Selecting a Project Management Software Package

A Caveat

Chapter 5 Review Questions

Chapter 5 Review Question Answers and Rationales

Chapter 6 – Project Control and Evaluation

Learning Objectives

Characteristics of a Project Control System

Project Review Meetings

Project Evaluation

Purposes of Project Evaluation

Conducting the Project Process Review

The Process Review Report

Critical Success Factors

Chapter 6 Review Questions

Chapter 6 Review Question Answers and Rationales

Chapter 7 – Project Control Using Earned Value Analysis

Learning Objectives

Why Do Some Projects Overrun the Budget?

Project Budgeting and Cost Estimates

How Do You Prepare Project Budgeting?

The Whys of the Concept of Earned Value

Forecasting Project Parameters Using Earned Value Methodology

Cost Control

Managing Cash Flow

Project Management Software

Chapter 7 Review Questions

Chapter 7 Review Question Answers and Rationales

Chapter 8 – Life Cycle Costing and Target Costing

Learning Objectives

Cost Reduction

Whole-Life Product Cost

Role of Target Costing

Life Cycle Budget

Does the Product Add Value to the Company and to Your Customer?

The Value Chain of the Business Functions

Target Costing

Unit Cost

Chapter 8 Review Questions

Chapter 8 Review Question Answers and Rationales

Chapter 9 – Economic Feasibility Study For a Capital Investment Project

Learning Objectives

What are the Types of Investment Projects?

What are the Features of Investment Projects?

Understanding the Concept of Time Value of Money

How Do You Calculate Future Values—How Money Grows?

Future Value of an Annuity

What is Present Value—How Much Money is Worth Now?

Present Value of Mixed Streams of Cash Flows

Present Value of an Annuity

Use of Financial Calculators and Spreadsheet Programs

How Do You Measure Investment Worth?

1. Payback Period

2. Net Present Value

3. Internal Rate of Return

Can a Computer Help?

4. Weighted Scoring Model

How Do Income Taxes Affect Investment Decisions?

How to Calculate After-Tax Cash Flows

How Does MACRS Affect Investment Decisions?

What to Know About the Cost of Capital

Cost of Debt

Cost of Common Stock

Cost of Retained Earnings

Measuring the Overall Cost of Capital

Economic Feasibility Study for an IT Project

Chapter 9 Review Questions

Chapter 9 Review Question Answers and Rationales

Chapter 10 – Managing Project Risks

Learning Objectives

Timeline Risks

Buffer Management

Budget Risks

Portfolio Risk

Risk Analysis Tools for Project Management

Probability Distributions

Risk-Adjusted Discount Rate

Certainty Equivalent Approach

Sensitivity Analysis

Decision Trees


Using Software to Assist in Project Risk Management

Chapter 10 Review Questions

Chapter 10 Review Question Answers and Rationales

Chapter 11 – Project Communication and Documentation

Learning Objectives

Personal Communication

Oral Communication

Written Communication


Types of Project Meetings

Status Review Meetings

Problem-Solving Meetings

Before the Meeting

During the Meeting

After the Meeting


Preparing for the Presentation

Delivering the Presentation


Types of Project Reports

Progress Reports

Final Report

Preparing Useful Reports

Project Documentation and Controlling Changes

Key Project Documentation

Initiating Documents

Planning Documents

Execution and Control Documents

Close-Out Documents

Chapter 11 Review Questions

Chapter 11 Review Question Answers and Rationales


The Project Management Institute (PMI®) and Certifications

Professional Standards


PMI® Certifications

Project Management Professional (PMP®)

Certified Associate in Project Management (CAPM™)



Final Examination

Answer Sheet

Course Evaluation

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