8 Hrs
4268+ Enrollments
Understanding Project Budget and Accounting
This course is an excellent resource for project managers who want to develop the skills and knowledge necessary to manage project finances effectively. It covers topics such as budget preparation, accounting principles, financial analysis, cost control, and financial reporting.
8 Hrs
4268+ Enrollments
Understanding Project Budget and Accounting
Project Budget
Overview of Course
The "Understanding Project Budget and Accounting" course provides a comprehensive understanding of budgeting and accounting principles for project management. This course is designed to help you develop an in-depth understanding of the fundamentals of budgeting and accounting, which are essential skills for managing projects successfully.
Course Highlights
Learn essential budgeting and accounting principles for project management
Understand budget preparation, accounting principles, financial analysis, cost control & financial reporting
Key Differentiators
Personalized Learning with Custom Curriculum
Training curriculum to meet the unique needs of each individual
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Trusted by over 100+ Fortune 500 Companies
We help organizations deliver right outcomes by training talent
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Flexible Schedule & Delivery
Choose between virtual/offline with Weekend options
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Our learning platform provides leading virtual training labs & instances
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Real-world Projects
We work with experts to curate real business scenarios as training projects
Skills You’ll Learn
#1
Develop budgeting and accounting skills necessary for managing projects effectively
#2
Understand the principles of financial analysis and control
#3
Learn to create, manage, and analyze project budgets
#4
Develop financial reporting skills for project management
Training Options
Corporate Training
On Request
Everything in 1-on-1 Training plus- Custom Curriculum
- Extended access to virtual labs
- Detailed reporting of every candidate
- Projects and assessments
- Consulting Support
- Training aligned to business outcomes
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- Improve employee morale, job satisfaction, and retention rates.
- Reduce employee turnovers and associated costs, such as recruitment and onboarding expenses.
- Obtain long-term organizational growth and success.
Course Reviews
Curriculum
- Definition of project budgets
- The purpose of project budgets
- Benefits of having a project budget
- Consequences of not having a project budget
- Direct costs
- Indirect costs
- Variable costs
- Fixed costs
- Marginal costs
- Sunk costs
- Identifying stakeholders
- Defining roles and responsibilities
- Outlining procedures and policies
- Determining cost estimating methods
- Establishing a change control process
- Establishing a reporting structure
- Definition of cost accounts
- Importance of cost accounts
- Types of cost accounts
- Cost account structure
- Cost account management
- Cost estimating techniques
- Creating a cost estimate
- Determining budget reserves
- Allocating budget to project tasks
- Creating a budget summary
- Definition of baseline
- Importance of baseline
- Establishing a baseline for the budget
- Approval and sign-off of the budget baseline
- Definition of performance measures
- Importance of performance measures
- Types of performance measures
- Creating performance measures
- Monitoring performance measures
- Definition of cost control
- Importance of cost control
- Controlling project costs
- Monitoring actual costs
- Taking corrective actions.
Contact Learning Advisor
Meet the instructor and learn about the course content and teaching style.- Make informed decisions about whether to enroll in the course or not.
- Get a perspective with a glimpse of what the learning process entails.
Description
Target Audience:
- Project Managers
- Financial Analysts
- Business Analysts
- Entrepreneurs
Prerequisite:
- Basic knowledge of accounting and finance
Benefits of the course:
- Develop essential budgeting and accounting skills for project management
- Improve your financial analysis and control skills
- Develop the ability to create, manage, and analyze project budgets
- Gain financial reporting skills for project management
Exam details to pass the course:
- There is no exam for this course.
Certification path:
- Project Management Institute (PMI)®️ Certified Associate in
- Project Management (CAPM)®️
- PMI®️ Project Management Professional (PMP)®️
- PMI®️ Agile Certified Practitioner (PMI-ACP)®️
Career options after doing the course:
- Project Manager
- Financial Analyst
- Business Analyst
- Cost Accountant
- Budget Analyst
Why should you take this course from Skillzcafe:
Why should you take this course from Skillzcafe:
Industry experts teach this course- Flexible learning options with online classes
- Learn at your own pace
- Access to course materials even after course completion
FAQs
The course duration is 8 hours.
Yes, this course is designed for beginners who want to learn the basics of project budgeting and accounting.
This course is available online and is self-paced.
No, there is no certification after completing the course. However, you can take the PMI®️ CAPM®️, PMP®️, or PMI-ACP®️ certification exams after completing this course.
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