Introductory description

This module addresses the financial management of projects. It provides a basic understanding of main financial statements, so that participants can understand and analyse financial information of a business. It also gives an introduction to management accounting concepts and techniques as an aid to effective project financial planning and control. The module introduces the financing of projects, the evaluation of capital investment projects and project risk management.

Module web page

Module aims

Outline syllabus

This is an indicative module outline only to give an indication of the sort of topics that may be covered. Actual sessions held may differ.

Introduction to Project and Business Finance; Financial Statements; Profit vs Cash; Budgetary Control Systems; Costing Techniques to ascertain, recover and control costs; Marginal Costing and Break-even Analysis; Capital Expenditure Evaluation and Financial Evaluation of Projects; Financing and Business Structures for Large Projects.

Learning outcomes

By the end of the module, students should be able to:

• Work within a team to critically analyse the financial performance of a project.
• Collaborate in a team to examine project cost and appraise project investment decision(s).
• Critically evaluate the financial source(s) used to fund a project and justify their suitability.
• Critically analyse the risk assessment of a project including the risk mitigation strategies.

Indicative reading list

Association for project management 2019, APM body of knowledge, 7th edn, Association for Project Management, Princes Risborough, Buckinghamshire.

Bamber, M. & Parry, S. 2020, Accounting and finance for managers: a business decision making approach, Third edn, KoganPage, London.

Bhimani, A., Horngren, C.T., Datar, S.M. & Rajan, M.V. 2023, Management and cost accounting, 8th edn, Pearson, Harlow, England.

Callahan, K.R., Stetz, G.S. & Brooks, L.M. 2011, Project management accounting: budgeting, tracking, and reporting costs and profitability, 2nd edn, Wiley, Hoboken, N.J.

Drury, C. 2023, Management and cost accounting, 12th edn, Cengage Learning, Andover.

Dyson, J.R. & Franklin, E. 2020, Accounting for non-accounting students, 10th edn, Pearson, Harlow, England.
Fabozzi, F.J. & Nahlik, C.F.D. 2021, Project financing: analyzing and structuring projects, World Scientific, Singapore.

Gatti, S. 2023, Project finance in theory and practice: designing, structuring, and financing private and public projects, 4th edn, Academic Press, Amsterdam.

Kerzner, H. 2022, Project management: a systems approach to planning, scheduling, and controlling, 13th edn, Wiley, Hoboken, New Jersey.

Yescombe, E.R. 2014, Principles of project finance, 2nd edn, Academic Press, Kidlington, Oxford.

View reading list on Talis Aspire

Subject specific skills

Project Financing, Budgeting, Cost Control, Project Evaluation, Understanding of Financial Statements, Cash Management.

Transferable skills

Financial/Numerical, Analysis, Communication, Teamwork, Presentation, Organisational, Planning, Critical Thinking, Problem Solving, Information Literacy, Time Management, Technology (excel).