William J. Scott, P.E.

This program is registered with the AIA/CES for continuing professional education. As such, it does not include content that may be deemed or construed to be an approval or endorsement by the AIA of any material of construction or any method or manner of handling, using, distributing, or dealing in any material or product. Questions related to specific materials, methods, and services will be addressed at the conclusion of this presentation. PDH Online | PDH Center 5272 Meadow Estates Drive Fairfax, VA 22030-6658 Phone & Fax: 703-988-0088 www.PDHonline.com www.PDHcenter.com An AIA/CES Registered Continuing Education Provider (#J681)

Course Overview

In today's shrinking world with increasing competition and the financial markets' increasing pressure on corporate earnings, project managers are being required to meet customer satisfaction, profitability, cash flow and company strategic goals all at the same time. Although the push for better, faster, cheaper has always been around, we as project managers have generally been able to live within the world that has been our projects with little regard for the goings on outside our projects. But.comanizations are constantly being challenged and changed - flatten, downsized, merged, etc. - in the ultimate game to increase shareholder value. As many.comanizations are becoming more project-based, it is imperative that the project manager understand not only the best ways to execute within his projects but also how these projects fit in to the financial and strategic objectives of the company as a whole.

Just like projects, businesses are executed according to plans. As a matter of fact, starting a business in the first place is undoubtedly a project. Managing a business toward specific objectives during a given period of time can even be considered a project. The analogies abound.

Also, like nearly all projects, the primary objective in business is financial gain. We have all heard from management that we are in business to make money. We may develop and market software, build the world's tallest skyscrapers, or manufacture toilet paper; but our common objective is to make a profit.

But, how is this accomplished? And, how do our projects fit within the financial structure of our companies? All good questions.

This course will give you a brief introduction to the basic business accounting principles used in companies. It will also provide an in-depth discussion and analysis of project financial and cost management processes. Finally, it will address the internal project financial reporting required to integrate your project results into the company's financial results.

This course includes a multiple choice quiz at the end, which is designed to enhance the understanding of the course materials.

Learning Objective

At the conclusion of this course, the student will learn:

• Why people are resistant to change;
• The seven Project Management System elements;
• How to effect change;
• Project Management Characteristics;
• Five key Project Management Concepts;
• Nine Project Management Benefits;
• Eleven Project Management Premises;
• Nine obstacles to change;
• Five Project Management Realities;
• Eight sources of power and influence;
• Organizational characteristics;
• Role of top management;
• Role of functional management;
• Role of project manager;
• Role of project team members;
• What an effective project manager must do;
• How to manage conflict;
• Skill requirement for effective project management;
• Thirteen guidelines for solving problems;
• Eleven rules for effective project management;
• The fourteen rules for wining proposals;
• The ten rules of competitive assessment;
• Why projects fail;
• The eight steps in project planning;
• The purpose of project planning;
• Five categories of major work assignment;
• Fundamentals of resource estimating;
• The five principals of estimating;
• The two sources of scope creep;
• Five ways to control scope creep;
• Precedence tables, what they are and how to use them; and
• Six steps of the procurement process.
  

Intended Audience

This course is addressed to:

• Project Managers
• Project Managers in Training
• Project Engineers
• Project Team Members
• Functional Managers
• Support Personnel
  

Course Content

Module #2: Project Financial Management

Module #3: Project Procurement Management

Module #4: Project Cost Management

Module #5: Project Financial Reporting

Module #6: Summary Lessons

The course content is in PDF format in each module. You need to open or download those documents to study this course.

Quiz

Once you finish studying the above course content you need to take a quiz to obtain the PDH credits.