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 project. It also introduces essential management accounting concepts and techniques for effective project financial planning and control. Additionally, the module covers investment appraisal methods, sources of project financing, and performance evaluation techniques, enabling informed financial decision-making and enhancing overall project success.

When this module is delivered in Overseas Programmes , it is delivered in a 1-week (FT) or 2-weekend (PT) blocks, instead of the standard 4-week block format.

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 Financial Management; Financial Statements; Capital vs Revenue Expenditure; Cost Estimation Techniques, Costing Methods, Cost Control, Budgetary Control Systems; Sources of Financing Projects, Investment Appraisal; Project Evaluation; Financial Reporting; Financial Performance;

Learning outcomes

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

• Work within a team to analyse the financial performance of a project using appropriate metrics to form evidence-based conclusions.
• Collaborate in a team to differentiate and justify the suitability of cost estimation technique(s) and examine project costs to enhance financial planning.
• Apply investment appraisal methods to assess project feasibility and recommend decisions that align with strategic objectives.
• Critically evaluate and defend suitable financing source(s) to fund a project by synthesising relevant literature to provide a clear opinion.

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.

Kerzner, H. (2023) Project management metrics, KPIs, and dashboards: a guide to measuring and monitoring project performance. Fourth. Hoboken, New Jersey: John Wiley & Sons.

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, Estimation, Cost Control, Project Evaluation, Understanding of Financial Statements, Financial Analysis

Transferable skills

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