Project cost and finance management. Project finance management What does financial project management include

In a market economy, the cost factor becomes decisive in the implementation of the project and the evaluation of its results, so the cost is one of the main objects in project management.

The cost management function includes a preliminary estimate of costs associated with the project, determination of cost estimates, sources of financing and project budget, cash flow planning, revenue and profit forecasting, control over spending and receipt of funds, and making decisions in cases of cost overruns and other deviations. from financial plans.

The main task of cost management is to comply with the budgetary framework of the project, and receive the expected profit from its implementation. Cost management should be based on methods for determining the effectiveness of investments in projects in an unstable economy, the formation of which has not yet been completed. Methods

and cost management techniques in market conditions are widely covered in the literature.

The distribution of a project's cost over its life cycle is uneven and usually structured.

Depending on the stage of the life cycle of the project and the objectives of the assessment, various types and methods of assessing the cost of the project are used. Based on the purposes of assessments, the accuracy of such assessments also varies.

Estimating costs begins with defining the resource and work structure of the project.

These tasks are solved within the framework of project planning, and the cost management system (cost estimation module) should receive the results of this process.

The cost of the project is determined by the resources required to perform the work, including: equipment (purchase, rent, leasing); fixtures, devices and production facilities; working labor (staff employees hired under a contract); consumables (stationery, etc.); materials; training, seminars, conferences; subcontracts; transportation, etc.

All costs can be classified as: direct and overhead costs; recurring and one-time; fixed and variable on the basis of dependence on the amount of work; overtime pay.

A project cost estimate is essentially an estimate of all the costs required for the successful and complete implementation of a project. These costs may have different representations, colored by different economics.

meanings. At the same time, the differences between such representations are sometimes very subtle.

There are three types of costs: liabilities; budget costs (estimated cost of work, distributed over time); actual costs (cash outflow).

Based on the structure of the project life cycle, its cost includes

all the following components:

Research and development costs: conducting pre-investment studies, cost-benefit analysis, system analysis, detailed design and development of prototype products, preliminary evaluation of project products, development of design and other product documentation;

Production costs: production, assembly and testing of project products, maintenance of production facilities, logistics, staff training, etc.;

Construction costs: production and administrative premises (construction of new or reconstruction of old ones);

Current costs: wages, materials and semi-finished products, transportation, information management, quality control, etc.;

Removal of products from production: costs for the re-equipment of production facilities, disposal of residues.

The process of managing the cash flows of an enterprise is based on certain principles, the main of which are:

The principle of informative reliability. The creation of an information base presents certain difficulties, since there is no direct financial reporting based on uniform methodological principles of accounting.

The principle of ensuring balance. Cash management

Enterprise flows deal with many of their types and varieties, considered in the process of their classification. Their subordination to the common goals and objectives of management requires ensuring the balance of the company's cash flows by types, volumes, time intervals and other essential characteristics. The implementation of this principle is associated with the optimization of the company's cash flows in the process of managing them.

The principle of ensuring efficiency. The cash flows of the enterprise are characterized by a significant unevenness of the receipt and expenditure of funds in the context of individual time intervals, which leads to the formation of significant amounts of temporarily free cash assets of the enterprise. In essence, these temporarily free cash balances are in the nature of non-productive assets (until they are used in the economic process), which lose their value over time, from inflation and for other reasons.

One of the most important and difficult stages of enterprise cash flow management is their optimization.

Optimization of cash flows is the process of choosing the best forms of their organization in the enterprise, taking into account the conditions and characteristics of the implementation of its economic activities.

The main goals of optimization are:

Ensuring the balance of cash flows;

Ensuring the synchronism of the formation of cash flows in time;

Ensuring the growth of the company's net cash flow. The main objects of optimization are: positive

cash flow; negative cash flow; balance of monetary assets; Net cash flow.

The basis for optimizing the cash flows of an enterprise is to ensure a balance between the volumes of positive and negative

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The workshop reveals the content of modern effective methods of project management. Approaches to building a project management system in its interaction with the strategic goals and objectives of the company are considered.
Also, the seminar is devoted to the financial components of project management, namely, practical technologies for financial management of commercial projects, project financing schemes, budgeting and financial control technologies for projects, techniques for evaluating the effectiveness and cost of a project, as well as the features of innovative project management.

The target audience

Seminars are intended for executives, managers and professionals involved in improving the activities of enterprises, banks, companies and groups; strategic and organizational development, interested in increasing the control and manageability of the company.

Target

The main attention is paid to projects for improving and developing the activities of the organization, as well as practical technologies for goal setting and project planning; building an effective project team, distribution of responsibility and delegation of authority; project execution control, project risk management and changes in the course of project implementation.

Program

1st day

"Management of projects for the development and improvement of the enterprise"

Project management of corporate development
The concept of the project. What goals and objectives are effectively implemented through projects. How to draw a line between current and project activities. Classification of projects. Approaches, standards and methods of system project management. Life cycle and phases of the project. The main objects, processes and procedures of project management.

Organization and project management
The main problems of project management in Russian companies. Project initiation. Goal setting and project planning. Development of a hierarchical structure of work. Building an organizational structure for project implementation. Construction of network models and project schedule. Resource planning. Development of a resource and financial plan for the project. Implementation and control of the project. Tracking, system of indicators and reporting on the project. Building and managing a project team. Typical roles and functions of project participants. Completion of the project. Motivation system for project participants.

Creation of a project management system in the company - PMS
Processes and organizational structure of the EMS. Communication and interaction with the strategic management system. Planning, evaluation and ranking of projects. Accounting and distribution of project resources. Project office. Design regulations. Review and classification of project management software.

Management of project risks and changes during project implementation
Project analysis and identification of project risks. Analysis, assessment and ranking of risks. Typical risk management strategies. Development of a risk management plan. Typical change management activities for the implementation of project results.

2nd day

"Project financial management and investment design"

Financial planning of the project. Business planning. Investment design
Investment and commercial projects. Purpose and preparation of the business plan and other documents. Sections of the business plan. Mistakes and recommendations. Basic plans, reports, analytical charts for the project. Cash flow plan. Profit and loss plan. balance plan. Features of financial management of investment projects

Budgeting and financial control of the project
Scheme of budget management. Outlines of budgeting. Types of budget reports, allocation of income and expenditure items. The cycle of budget management. financial responsibility centers. Implementation of budgeting.

Evaluation of the effectiveness of the project.
Discounting and the value of money. Structure and price of capital, assessment of the cost of financing. Indicators for measuring the effectiveness of the project. NPV. IRR. NCF. P.I. PP. Analysis of indicators. Scenario analysis. Break-even analysis. Sensitivity analysis. Analysis and risk management.

Project Cost Estimation
Aspects of cost. Basic approaches to cost estimation. Assessment methods. Evaluation of individual elements of the project. Impact of the project on the value of the company.

Project financing schemes
Sources of financing. Financing schemes. Internal and external financing. Debt and equity financing. Long-term and short-term financing. Mixed finance. Specific financing schemes. Factors in choosing financing schemes.

The process of attracting external financing to the project
Project management cycle to attract external investment.

Features of innovation project management
Venture financing. Cycle of the innovative project. Forms of organizing the implementation of innovative projects. Protection and evaluation of intellectual property.

Additional Information

Information materials:
The cost of participation includes meals (2 coffee breaks, lunch), teaching aids and CD-1 "Business Processes". Contains examples of business process models from various business sectors and information and methodological materials, as well as chapters of the book "Secrets of successful enterprises: business processes and organizational structure", corresponding to the topics of the seminar.

Only seminar participants receive a 15% discount on the purchase of the organizer book "Secrets of Successful Enterprises: Business Processes and Organizational Structure" and CD solutions.

Location

Russia, Moscow, st. Hotel, 3 (m. Petrovsko-Razumovskaya)

30. Project Cost and Financing Management

Key Definition

Project Cost and Financing Management(Project Cost and Finance Management)- the project management section, which includes the processes necessary for the formation and control of the implementation of the approved project budget. Consists of resource planning, cost estimation, budgeting and cost control.

body of knowledge

The project cost and financing management process includes:

□ Development of the concept of managing the cost and financing of the project:

Development of a strategy for managing the cost and finances of the project (defining goals and
tasks, criteria for success and failure, limitations of 74 assumptions);

Conducting economic analysis and justification of the project (marketing,
assessment of cost and sources of financing, forecast of implementation);

General economic evaluation of the project;

Development of an enlarged financing schedule;

Determination of requirements for the cost and financing management system in
project;

Concept approval.

□ Cost and financing planning in the project:

Resource planning and determination of their quantity required for successful
project implementation;

Estimation of the project cost (based on the developed estimate documentation,
expert assessments, etc.);

Formation of the project budget,

Development of a financing plan, which should correspond to the formed
project budget:

Development of a cost and financing management plan for the project.

□ Organization and control of project implementation by cost:

Distribution of functional duties and responsibilities in accordance with
cost and financing management plan for the project;

Implementation of the cost and financing management system in the project;

Accounting for actual costs in the project;

Formation of reporting on the state of the cost and financing of the project.

□ Analysis of the state and regulation of the cost of creating a project:

Current audit of the state of the project in terms of cost and finance;

Determining the degree of project implementation by cost indicators
(carried out on the basis of an analysis of actual costs and estimated cost
executed works);

CHAPTER 1. KNOWLEDGE AND EXPERIENCE

Analysis of deviations in the cost of work performed from the estimate and budget:

Analysis of various factors influencing positive and negative deviations;

Preparation and analysis of corrective actions;

Forecasting the state of the project work in terms of cost;

Making decisions on regulatory impacts to bring the performance of work
project at a cost in line with the budget.

□ Completion of cost and finance project management:

Economic analysis and evaluation of results;

claims resolution and conflicts;

Preparation of the executive estimate and financial report;

Final settlements and closing of financing;

Formation of the archive.

Main literature

Voropaev V.I., Galperina Z.M., Razu M.L., Sekletova G.I., Yakutia Yu.V. et al. Program and project management / Edited by Razu M.L. Module 8. In the 17-module program for managers "Management of Organizational Development". - M.: Infra-M, 1999. - S.392.

Voropaev V.I. Project management in Russia. - M.: Alane, 1995. - S.225.

Mazur I.I., Shapiro V.D. et al. Project Management: A Handbook/ Edited by AI. Mazur and V.D. Shapiro. - M.: Higher school, 2001. - S.875.

Ilyin N.I., Lukmanova I.G. etc. Project management. - St. Petersburg: DvaTri, 1996. - P. 610.

Lobanova E.N., Limitovsky M.A. Financial management. Module 14. In the 17-module program for managers "Management of the development of the organization." -M.: Infra-M, 1999.

Guide to the world of project management / Per. from English. - Yekaterinburg: USTU, 1998. - S. 192.

Archibald R.D., Managing High-Technology Programs and Projects. 2nd ed. -New York, NY: John Wiley & Sons, 1992.

Cleland D.I., King W.R., Project Management Handbook. 2nd ed. - New York, NY: Van Nostrand Reinhold, 1988.

ICB - IPMA Competence Baseline. Version 2.0. IPMA Editorial Committee: Caupin G., Knopfel H., Morris P., Motzel E., Pannenbacker O.. - Bremen: Eigenverlag, 1999. - p.l 12.

Ireland L.R., Quality Management for Projects & Programs. - Drexel Hill, PA: PMI, 1991.

Kerzner H., Project Management: A Systems Approach to Planning, Scheduling, and Controlling. 6th ed. - New York, NY: John Wiley & Sons Inc., 1997.-p. 1200.

Project management - Fachmann. - Eschbom: GPM und RRW, 1991. - VI, V2, pp.1130.

Turner J.R., The Handbook of Project - Based Management: Improving the Processes for Achieving Strategic Objectives. - Maidehead: McGraw - Hill, 1993. - p.540.

Turner J.R., Grude K.V., Thurloway L.- The Project Manager as Change Agent. - Maidehead: Me Graw-Hill, 1996.

additional literature

Holt R.N. Fundamentals of financial management. - M.: Delo Ltd., 1995.

Holt RN, Barnes SB. Investment planning. - M.: Delo Ltd., 1994.

Project and project-oriented company, economic model.
- Project (order) as a control object. Stakeholders of the project. Investment and commercial projects. Goals of the customer and project executor. Prioritization: timing, cost, quality.
- The main indicators of economic efficiency and financial stability of the organization, the levers of their management. Economic model of a project-oriented company.
- Use of organizational resources in projects: project costs and company costs. Areas of responsibility of the project manager and the head of the functional unit.
- Evaluation of the cost of project execution at full and variable costs. Methods for calculating the total cost, the variance of the bases for the distribution of fixed costs.
- Cost calculation and accounting for the use of labor resources and fixed assets of the company in projects.
- Ensuring the financial feasibility of the project. Sources of company and project financing, cost of capital. Factors affecting the need for working capital.
Project cost management at different stages of its life cycle.
- Project life cycle: planning, implementation, completion. Tasks and financial management tools at different stages of the project life cycle: budgeting, accounting, performance optimization and control. Estimate and budget of the project.
- Budgeting of project costs: composition of articles, forecasting methods, variability of cost estimates and recognition moments for individual budget articles. Optimization of costs for the purchase of raw materials and materials.
- Cost budget, income and expense budget, project cash flow budget in interconnection. Modeling the impact of management decisions of the project manager on the economic efficiency of the project.
- Monitoring and control of the budget at the stage of its execution. Earned value method as a tool for assessing the correspondence between project costs and results achieved. Calculation of free funds for the project by the indirect method.
- Project management reporting. Requirements for the composition of indicators and reporting forms. Interrelation of project results and manager's motivation.
Calculation of the cost of the project and approaches to pricing.
- Accounting and economic approaches to cost estimation. Relevant and irrelevant costs. Project sale price: strategic and tactical decision. Taking into account the market situation and the degree of utilization of the company's production capacities when determining the lower limit of the sale price of the project to the customer.
- The value of money over time. Accounting for the terms of project financing by the customer when pricing.
Development projects (investment) - planning and evaluation.
- Investment and operational phases of the project. Bringing multi-temporal cash flows to comparable values, discounting procedure. The cost of capital and the choice of discount rate. Accounting for financing conditions in the evaluation of projects involving borrowed funds.
- Project financial performance indicators: investment payback period, net present value, project internal rate of return, return on investment index. Comprehensive assessment of the project.
Project risks.
- Risk identification and ranking methods. Qualitative and quantitative risk assessment. Risk response options.
- Project risk management planning. Scenario budgeting as a risk management tool.
Financial management of a project-oriented company.
- Types of company strategies and financial management tasks to support their implementation. The role of the financial and economic service in the organization of project activities.
- Scheme of financial flows. Balancing flows in the context of projects, by type of activity: operating, investment, financial.
- Optimization of assets and sources of their acquisition. Analysis of the total financial result by stages of its formation.
- Levels of planning and control, cascading of the system of indicators. Internal management reporting system. Accounting policy of management accounting and budgeting. Tools for automating accounting and budgeting in "project" companies.

Certificate of advanced training in the amount of 32 hours (License No. 3053 dated 07/03/2017).

To obtain a certificate, you must provide:

a copy of a diploma of higher or secondary vocational education (in case of obtaining a diploma outside the Russian Federation, please clarify the need for the procedure for recognizing a foreign diploma in the Russian Federation by contact phones or e-mail)
a copy of the document confirming the change of surname (if changed).

Membership package includes: