Introduction

In today's competitive and fast-evolving business landscape, technical excellence alone is no longer sufficient for professionals in engineering, project management, and other technical fields. A solid understanding of financial principles, project finance, and investment appraisal is crucial for making informed decisions, securing project funding, optimizing resource allocation, and demonstrating tangible value to stakeholders. Engineers and technical experts are increasingly expected to contribute to strategic financial discussions, evaluate project viability, and manage budgets effectively. This essential training course focuses on Finance for Engineers, Project & Technical Professionals, bridging the gap between technical expertise and financial acumen, empowering participants to confidently navigate financial statements, understand project economics, and articulate the financial implications of their technical decisions.

This comprehensive training course delves into core financial concepts, accounting principles, and financial statement analysis specifically tailored for non-finance backgrounds. Participants will gain practical skills in budgeting, cost control, project appraisal techniques, and risk assessment, learning how to apply financial metrics to real-world engineering and project scenarios. We will explore various financing options for projects, the importance of cash flow management, and how to effectively communicate financial information to senior management and investors. By the end of this training course, you will possess the financial literacy and analytical tools to enhance your project leadership, drive profitability, and advance your career in any technical or project-driven organization.

Target Audience

• Engineers (all disciplines)
• Project Managers
• Technical Specialists
• R&D Professionals
• Operations Managers
• Product Development Leads
• Consultants in Technical Fields
• Anyone transitioning into a management role

Course Objectives

• Understand fundamental financial concepts and terminology.
• Learn to interpret key financial statements: Income Statement, Balance Sheet, Cash Flow Statement.
• Master the principles of budgeting and cost control for projects and operations.
• Develop skills in financial analysis and ratio interpretation for performance assessment.
• Understand the concept of time value of money and its application.
• Learn various project appraisal techniques (NPV, IRR, Payback Period).
• Explore different sources of project financing and capital structuring.
• Develop skills in assessing and mitigating financial risks in technical projects.
• Understand the impact of taxation and depreciation on project profitability.
• Learn to prepare and present compelling financial justifications for projects.
• Improve communication skills when discussing financial aspects with stakeholders.

DURATION

10 Days

COURSE CONTENT

Module 1: Fundamentals of Finance and Accounting

• Introduction to financial management concepts.
• Overview of basic accounting principles.
• The relationship between finance, accounting, and business strategy.
• Key financial vocabulary and jargon.
• The importance of financial literacy for technical professionals.

Module 2: Understanding Financial Statements

• Deconstructing the Income Statement (Profit & Loss).
• Analyzing the Balance Sheet: Assets, Liabilities, Equity.
• Interpreting the Cash Flow Statement (Operating, Investing, Financing).
• How these statements reflect an organization's financial health.
• Practical exercises in reading real-world financial statements.

Module 3: Budgeting and Cost Control for Projects

• Principles of budgeting: planning, allocation, and monitoring.
• Different types of budgets (e.g., operating, capital, project).
• Techniques for cost estimation and cost control in projects.
• Variance analysis: understanding deviations from budget.
• Strategies for managing project expenses effectively.

Module 4: Financial Analysis and Performance Ratios

• Introduction to key financial ratios: liquidity, profitability, solvency, efficiency.
• Calculating and interpreting financial performance metrics.
• Benchmarking against industry standards and competitors.
• Identifying financial strengths and weaknesses.
• Using ratios for decision-making and performance improvement.

Module 5: Time Value of Money (TVM)

• The concept of present value and future value.
• Discounting and compounding techniques.
• Calculating net present value (NPV).
• Understanding the internal rate of return (IRR).
• Practical applications of TVM in project evaluation.

Module 6: Project Appraisal and Investment Decisions

• Overview of project appraisal techniques: NPV, IRR, Payback Period, ROI.
• Comparing different investment opportunities.
• Conducting sensitivity analysis and scenario planning.
• Decision criteria for accepting or rejecting projects.
• Case studies in capital budgeting decisions.

Module 7: Project Financing and Capital Structure

• Different sources of project finance: equity, debt, grants.
• Understanding project financing structures (e.g., non-recourse, limited recourse).
• The cost of capital and its impact on project viability.
• Principles of capital allocation for technical projects.
• Introduction to Public-Private Partnerships (PPPs) in financing.

Module 8: Cash Flow Management for Projects

• Importance of cash flow forecasting.
• Differentiating between profit and cash flow.
• Strategies for optimizing cash inflows and outflows in projects.
• Managing working capital effectively.
• Avoiding cash flow problems in project execution.

Module 9: Financial Risk Management in Projects

• Identifying and assessing financial risks (e.g., cost overruns, revenue shortfalls, currency risk).
• Techniques for mitigating financial risks (e.g., hedging, contingencies).
• Quantitative and qualitative risk analysis for projects.
• The role of insurance in project risk management.
• Developing risk response strategies.

Module 10: Taxation, Depreciation, and Economic Impact

• Basic concepts of corporate taxation.
• Understanding depreciation methods and their financial impact.
• How tax incentives can influence project economics.
• Analyzing the economic impact of technical projects.
• Factors affecting the financial feasibility of innovations.

Module 11: Financial Justification and Communication

• Structuring compelling business cases for projects.
• Developing effective financial proposals.
• Presenting financial data to non-financial audiences.
• Communicating project value in financial terms.
• Techniques for negotiating project budgets and funding.

Module 12: Integrating Finance into Project Leadership

• The role of financial acumen in project leadership.
• Making data-driven financial decisions.
• Fostering a cost-conscious culture within technical teams.
• Aligning technical goals with financial objectives.
• Personal finance considerations for technical professionals.

Training Approach

This course will be delivered by our skilled trainers who have vast knowledge and experience as expert professionals in the fields. The course is taught in English and through a mix of theory, practical activities, group discussion and case studies. Course manuals and additional training materials will be provided to the participants upon completion of the training.

Tailor-Made Course

This course can also be tailor-made to meet organization requirement. For further inquiries, please contact us on: Email: info@skillsforafrica.org, training@skillsforafrica.org  Tel: +254 702 249 449

Training Venue

The training will be held at our Skills for Africa Training Institute Training Centre. We also offer training for a group at requested location all over the world. The course fee covers the course tuition, training materials, two break refreshments, and buffet lunch.

Visa application, travel expenses, airport transfers, dinners, accommodation, insurance, and other personal expenses are catered by the participant

Certification

Participants will be issued with Skills for Africa Training Institute certificate upon completion of this course.

Airport Pickup and Accommodation

Airport pickup and accommodation is arranged upon request. For booking contact our Training Coordinator through Email: info@skillsforafrica.org, training@skillsforafrica.org  Tel: +254 702 249 449

Terms of Payment: Unless otherwise agreed between the two parties’ payment of the course fee should be done 10 working days before commencement of the training.