- Location: Petro Tech
- Duration: 5 Days
Course details
With increasing competition and focus on corporate earnings, project and contract managers are held accountable, not just for achieving technical and scheduling goals, but also for meeting profitability targets and other cost related measures.
This training session explores the financial metrics that are commonly used and also examines the less frequently thought of financial impact of typical operating decisions and actions. Building on your competencies, you will examine the inner mechanics of how finance and accounting can impact your project.
CONFERENCE OBJECTIVES
- Communicate more effectively with accounting and financial personnel
- Read, understand, and analyse accounting and financial data
- Expand your work in project scheduling and cost control to encompass additional financial metrics and tools
- Minimise project financial risk
- Develop and apply tools for comparing project financial returns
- Understand how finance often drives organisational decisions and evaluations of project performance.
CONFERENCE SUMMARY
Learn about common financial analysis tools in the project environment that link project management to broader corporate strategic goals. Case studies and project-related exercises give you the opportunity to apply these proven tools and techniques.
Learn how the financial health of your organisation can be significantly affected by operating decisions regarding pricing as well as terms and conditions and asset management.
CONFERENCE OUTLINE
Fundamentals of Finance
- Financial accounting concepts
- Generally accepted accounting principles
- Reading and understanding financial statements
- Financial analysis
- Managerial accounting
- Business case consideration
- Cost vs. revenue
- Profitability measures
- ROS
- ROA/EVA
- ROE
- IRR
- Time value of money
- Discounted cash flows
- Direct vs. indirect costs
- Fixed vs. variable vs. semi-variable costs
- Break-even analysis
Contract Profitability - Pricing
- Pricing strategy and tactics
- Profit planning
- Cost estimating
- Cost-based pricing
- Market-based pricing
- Value-based pricing
- Profit objective
- Market structure
- Follow-on business
- Risk
- Z score
- Market structure
- Follow-on business
- Risk
- Z score #
Asset Management - Cash is King
- Cash
- Timing of cash flows
- Accounts receivable
- Inventory
- Equipment
- Revenue recognition
- Financing arrangements
Terms & Conditions (Ts & Cs) - Best Prices
- Value, cost, and risk
- Asset-friendly Ts and Cs
- Unfavourable Ts and Cs
- Metrics to evaluate
Cost Estimating What Works Best
- Cost estimating methods
- Planning and scheduling
- Making sense of historical data
- Experience curves
- Relationship between cost estimating and pricing
Course Location
About PetroTech
Knowledge
The adage that “knowledge” is power holds very true in this industry. In order to maximize results we are constantly updating and upgrading ourselves. This commitment to ongoing skills development is one of the reasons we are success, the belief that there is a “better way to do things” is what motivates us each and every day. By aligning with us you are going to benefit from our years of expertise in real world scenarios. Classroom learning is great but there is no substitute to real world experience which is what we are bringing to the table.
Quality
Billionaire investor Warren Buffett said “price is what you pay but quality is what you get” and that expression is very true. With use we understand that your time is very valuable and you only want the best and most current industry related knowledge which is what we bring to the table. Instead of giving you massive amounts of inaccurate or outdated information you get precisely what you want, the most current knowledge so you can make truly informed decisions that will directly impact productivity and your bottom line. When results are what you are looking for then the choice is clear, we are your partners in success.
Innovation
Technology has revolutionized the way knowledge is disseminated in throughout the world, what use to take months or even years to reach the masses can be done in a few hours ! In order to remain relevant and viable we need to embrace innovations. The challenge with innovation is knowing when to implement it and what type of return you can expect from it. Instead of risking your time and resources we have the answers for you, Since we are at the vanguard of the industry whenever there is a fruitful innovation we will be there providing you with the information needed to make the right decision.
Respect
We understand you may have unique need so we provide a tailored made (bespoke for our U.K. friends) approach that will address your questions in the most conducive manner possible. Respect to us means putting your interests, your needs at the forefront of our mind. You will see how genuine we are and that you not just “some customer” you are our partner in success just as much as we are your partner in success. We firmly believe in the “golden rule”, treat others with graciousness, courtesy and respect. Come experience the difference that quality and respect makes and you will truly be amazed.
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