Financial Management is a key to your organizational sustainability, encompassing all activities which have a financial impact. It provides direction, determines and clarifies accountability, evaluates resources and delivers information that can be used in planning, assessing impact and reporting. It also allows your organization to identify legal obligations through implementing good practice in accounting for finances. The role of financial managers today goes far beyond handling a multitude of daily transactions. You must also help drive company performance by sharing valuable information hidden in transactional data and adapting processes fluidly as business conditions and regulatory environments change.
In today’s increasingly complex business environment, project professionals need to be knowledgeable in all phases of the project life cycle, from the early phase of acquisition to the last phase of product delivery to the client. Among them, Project Procurement and acquisitions professionals must keep many things in mind, including contractual issues between the buyer and seller or between the developer and client or consultant. Contracting officers, Purchasing Managers, and Subcontractors are often among the players who play a vital role in achieving the overall project success.
The right combination of Financial and Procurement Management tools are essential to any organization’s success. This training gives you the right mix of knowledge from both areas and the skills you need in order to provide tight alignment between business strategies and operations while improving your financial status and other factors affecting business performance.
- Finance and Procurement Executives, Senior Managers, Procurement & Finance Managers and Professional staff from related functions
- Project Managers, Supervisors and Program Officers involved in or overseeing financial activities
- Project Managers involved in plant and equipment development projects
- Technical Personnel involved in performance specification of plant and equipment
- Quality Managers seeking to understand how suppliers are selected.
After attending this program participants will learn how to:
- Assess the financial performance and health of the firm
- Enhance their decision-making skills by understanding financial management concepts
- Assess various software applications for managing finances
- Control the flow of money through their departments
- Understand the budgeting process and forecasting techniques
- Manage their own budget, inventory and petty case
- Confidently discuss and use financial information
- Understand financial jargon
- Read and analyze a set of accounts
- Use basic financial tools
- To set up and manage procurement effectively
- To select suppliers on strict criteria
- To measure supplier performance
- To identify ways to increase procurement effectiveness and efficiency
- To use IT systems effectively to assess supplier performance
- To work across functions to improve all aspects of procurement service to its customers
- To understand the training needs of procurement personnel
- To build a motivated procurement team.
- Keys to Financial Success
- Financial Planning Principles
- Risk Management
- Cash Management
- Investment Planning
- Social Security Benefits
- Inventory Management
- Tax Management
- Retirement Planning
- The role of procurement in the organization
- Developing supplier relationships
- Reviewing supplier performance
- Managing the tendering process
- Negotiating contract with suppliers
- Understanding the needs of the users of procurement services
- Contract documentation
- Rationalizing the supplier base
- IT systems in procurement
- Detecting fraud
- Training needs of procurement personnel.
The seminar will be conducted along workshop principles with formal lectures, case studies and interactive worked examples. Relevant case studies will be provided to illustrate the application of each tool in an operations environment. Each learning point will be reinforced with practical exercises. Difficult mathematical concepts are minimized and handled in a visual way that is easy to understand with examples demonstrated.
Program Dates: 17 – 21 December 2019
Registration Closes on: 31 October 2019
Venue: Corp Amman Hotel
Program Fee: $2750
Fee Covers:Register Online
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