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PROJECT MANAGEMENT ACCOUNTING

Location
Dubai, UAE
Date
From Date: 07-Jul-2025   
To Date: 11-Jul-2025
Duration
5 days
Language
ENGLISH
Discipline
PROJECT MANAGEMENT & CONTRACT MANAGEMENT
Introduction

This course is designed to provide participants with a foundational understanding of the principles and practices of accounting within the context of project management. It covers the key aspects of budgeting, cost estimation, financial control, and performance monitoring that are essential for managing project finances effectively.

Objective

By the end of the course, participants will be able to understand

  • Understand the role of accounting in project management.
  • Develop project budgets and cost estimates.
  • Implement financial controls for project management.
  • Monitor and track project performance against budgets.
  • Apply project accounting principles to ensure financial success in projects.
Audience
  • Project Managers
  • Finance Managers involved in project-based work
  • Team Leaders and Project Coordinators
  • Professionals looking to improve their understanding of project financial management
Content

Day 1: Introduction to Project Management Accounting

  • Overview of project management accounting
  • Key financial concepts in project management
  • Importance of budgeting and financial planning in projects
  • Role of financial controls in project management

Day 2: Budgeting and Cost Estimation

  • Principles of project budgeting
  • Methods of cost estimation (analogous, parametric, bottom-up)
  • Tools for cost estimation and forecasting
  • Developing a cost baseline for projects

Day 3: Financial Control in Project Management

  • Setting up financial controls in project management
  • Tracking and monitoring project expenses
  • Managing changes to the project budget
  • Financial reporting for project managers

Day 4: Performance Monitoring and Reporting

  • Key performance indicators (KPIs) for project financial management
  • Variance analysis (cost variance and schedule variance)
  • Reporting financial performance to stakeholders
  • Adjusting project plans based on financial performance

Day 5: Advanced Project Accounting Techniques

  • Earned Value Management (EVM) overview
  • Cost forecasting and project financial health indicators
  • Managing cash flow in projects
  • Best practices for project financial management

 

 

NOTE:

Pre-& Post Tests will be conducted.

Case Studies, Group Exercises, Group Discussions, Last Day reviews, and assessments will be carried out.

 

Certificate

Define Management Consultants Certificate of course completion will be issued to all attendees.

Methodology

A highly interactive combination of lectures and discussion sessions will be managed to maximize the amount and quality of information and knowledge transfer. The sessions will start by raising the most relevant questions and motivating everybody to find the right answers. You will also be encouraged to raise your own questions and to share in the development of the right answers using your own analysis and experiences.  Tests of multiple-choice type will be made available on daily basis to examine the effectiveness of delivering the course.

Very useful Course Materials will be given.

  • 30% Lectures
  • 30% Workshops and work presentation
  • 20% Group Work& Practical Exercises
  • 20% Videos& General Discussions
Fees
• $5,500 per participant for Public Training includes Materials/Handouts, tea/coffee breaks, refreshments & Lunch

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