Project Management Accounting: Budgeting, Tracking, and Reporting Costs and Profitability is meant to improve the business skills of project managers. This course contains the basics of project management accounting and finance, including insights into cost accounting, budgeting, and tracking project profitability. Most importantly, it provides project managers with a foundation of knowledge about the basics of business practices necessary to apply new skills to projects that they manage.
Upon successful completion of this course, participants will be able to:
- Identify components of a mission, objectives, and strategy as well as the elements of project initiation, planning, execution, and control
- Identify differences between costs and expenses
- Recognize project document contents and project control tools
- Select appropriate financial presentation when there is a change in accounting methods
- Identify DuPont method reasoning behind ratio analysis
- Recognize differences between different ratios and their applicability to certain scenarios
- Recall the components of financial analysis ratios, including the strategic, tactical, and operational solution model
- Identify the project management commencement steps
- Recognize opportunity and sunk costs
- Cite differences between the various agility loops
- Identify the characteristics and components of different types of cost
- Recognize costs associated with different industries
- Identify types of financing, including cost, characteristics and applicable scenarios
- Select components of the capital asset pricing model
- Recall components of project financials and how the information is compiled
- Identify the role of cash flows in preparing project budgets
- Note the steps involved in the project financial evaluation process
- Recognize the process for creating project budgets
- Identify the differences between forecasts and budgets
- Recall the planning phases of project management
- Cite the information required to make decisions regarding acceptance of projects
- Identify the steps of the risk assessment process, including required calculations for quantifying risk
- Recognize the role of project managers in project risk assessment
- Note the components of project management risk to reputation
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