Project Planning and Budgeting
This course can be customised to client requirements.
For fees and relevant details please contact Customer support firstname.lastname@example.org or call
+44 207 724 6007
This course has been designed to provide delegates with an introduction to the principles of project finance and skills required to prepare project budgets.
It will focus on ensuring a solid understanding of the key factors underpinning budget preparations, the process of constructing a project budget and the skills required to negotiate and communicate your budget effectively.
This course is delivered as Online Training. Learn more about our approach.
Who should attend
This course is suitable for delegates with little knowledge and experience of finance but are seeking to move into project development or project finance areas.
Previous participants have included engineers, accountants, and middle/senior managers.
Preparing a budget for your project
- Developing your project plan: gathering and analysing data
- Creating an operating plan: managing staff numbers and other resources in the light of your project
- Risk assessment to minimise project costs
Constructing project budgets
- The difference between capital budgets and operational budgets
- Planning revenues: Why budgets overstate revenue and bringing realism in revenue estimates.
- Planning costs: variable and fixed costs; absorbing fixed costs
- Cost estimation and forecasting techniques – the importance of cash flow
- Understanding where costs may be hidden in contracts
- The pricing process and determining a budget
Communicating your budget effectively
- Negotiating the budget process: top-down targets v realism
- Choosing floor targets, stretch targets, and expected results: selecting targets to influence staff behaviour
- Summarising budget information effectively; identifying what is and is not controllable by a manager
At the end of the course delegates will be able to:
- Interpret project plans and gather key information
- Assess risks which can impact on project costs
- Construct a project budget
- The importance of cost control and forecasting cash flow
- Negotiate and communicating your budget
- Project Management