International Institute for Learning, Inc.
PM Core and Intermediate Courses

Accounting and Finance Principles for PM Practitioners
Manage the Financial Outlook of Your Projects

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Course No.:
2 Days
14 PDUs / 1.4 CEUs
IIL Virtual Classroom
Course No.:
Four 3-hour sessions
12 PDUs / 1.2 CEUs
Course Level:
A good working knowledge of project management, as well as some experience managing projects

About the Program
Do you often feel that you are using different numbers to track costs, must support different cost structures and charts of accounts and also must meet different time frames? Are you unclear about the relationship between your project’s cost system and budget and the accounting and financial systems in use in your organization?

With the increase in use of the managementby- projects concept, projects today are not just viewed as a cost to organizations but are viewed as an investment. The project manager now requires a broader focus in order to ensure that the project will produce a greater return to the organization. Each project professional must have a thorough grounding in principles of accounting and finance in order to determine the project’s contribution to economic value and to ensure that the project results in a competitive advantage with maximum cash flow.

Learn what you must do to ensure that no last-minute, unplanned costs, expenses or allocations affect your projects’ financial outlook.

Who Should Attend
This program is designed for project and program managers, as well as team members with little or no knowledge of corporate or project management accounting and finance.

Performance Focus
The goal of the course is to equip you with the necessary knowledge, skills and techniques to control the financial profitability of your projects and ensure that your projects meet the financial goals of your organization.

What You Will Learn
You’ll learn how to:

  • Describe the reason for doing projects
  • Understand the basics of project management
  • Understand the cost needs of the project team
  • Understand the financial needs of the company
  • Describe how these two apparent conflicting worlds really do reconcile
  • Perform simple financial/accounting analysis
  • Perform simple project performance analysis
  • Understand how cash flow and project performance baselines are different
  • Reconcile and work within those differences
  • Focus on what you are doing now as well as on what you should be doing
  • Course Overview
    Getting Started

    • Introductions
    • Course Structure
    • Course goals and objective


    • Benefits of project management
    • Project focus versus organizational focus
    • Accounting and finance in the organization
    • The project manager’s financial responsibility

    The Project Management World

    • Financial management
    • Focus on project management
    • Project life cycles
    • Budget cycles
    • Unified Project Management® Methodology (UPMM)
    • Project decision checkpoints
    • Filtering/pipeline process
    • Triple constraints in project management
    • Project estimating
    • Project budgeting

    The Financial Management World

    • Focus on financial management
    • Financial cycles
    • Budget cycles
    • Project decision checkpoints
    • Filtering/pipeline process
    • Triple constraints
    • Basic financial principles
    • Example profitability measures
    • Return on investment (ROI)
    • Return on equity (ROE)
    • Present value (PV)
    • Internal rate of return (IRR)
    • Break-even analysis
    • Cost versus revenue
    • Cost types

    Merging the Two Worlds

    • Budget cycle versus project life cycle
    • Financial and project management
    • The two worlds together
    • Project performance
    • Status reporting
    • Earned value analysis


    • What did we learn, and how can we implement this in our work environments?
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