Business Management Skills for Project Managers
- 1.4 CEU/14 PDU/Credits/Units
- MDP115Course Code
- This course is part of the Project Management Advanced Certificate Program, a program geared toward project managers looking to obtain the skills that are expected of them in order to advance to higher-level project management positions.
Project managers are in a position to influence the financial performance of their organizations. Project managers also have a need to communicate the value of their projects to senior managers in a common language. This course helps project managers understand common business financial terms, and assess how their projects influence organizational performance.
Who should attend
Project and program managers who want to increase their effectiveness by gaining a better understanding of the language of business.
What you will achieve
- The ability to communicate project parameters, such as scope, cost and schedule, in business terms
- A deeper understanding of your projects impact on your business or organization
- More effective communication with key stakeholders in your organization
- A greater understanding of the financial value of your project
- An improved understanding of the financial impacts of typical project decisions on scope, cost, and schedule.
What you will learn
- How Does a Business Run? — Using a combination of lecture, case study and simulation tools, you will define the basic business cycle, cash flow, investments and returns and related business terminology
- How Does a Business Measure Success? — define three critical financial reports, their contents, and what purpose they serve
- How Do Investors Measure Success? — define common financial analysis metrics and how they measure value and success for investors
- How Does Your Project Impact the Business? — how project cost and schedule changes impact return on investment
- Basic Financial Modeling — how to use an investment spreadsheet to conduct financial sensitivity analysis
- Building a Business Case for Your Project — how to capture costs and benefits and assess the financial impact on the business unit
- Selling Your Project — how to quantify the value of your project in financial terms and communicate the value to the management team to secure approval
- Assessing the Financial Impacts of Project Decisions — how to use financial measures to make better business decisions.
Please note that prices are subject to change without notice.