“Understanding the numbers” often creates a feeling of dread in leaders who are experts in their field, but haven’t come from a financial background.
From understanding budgets, profitability and financial jargon, the ability and confidence to understand the “money side of things” is a foundation skill for managing projects and performance. Many organisations (rightly) promote people into leadership positions because they excel at their job but find it difficult to access the right support to boost their leaders understanding of the financial aspects of management.
Our new one-day ‘Financial Fundamentals’ program has been designed to demystify jargon, create relevance and understanding plus give learners what they need to do know in order to make effective decisions. By the end of the day learners will know how to; determine the resource requirements for a job, efficiently and profitably acquire and allocate resources, manage budgets, measure results and produce reports.
This program helps people to understand how the decisions they make on a daily basis can affect the project profitability and the overall bottom line.
Demystifying financial language
- Developing business acumen
- Understanding financial jargon
Developing a profitability mindset
- The real cost of business and improving site profit
- Procuring goods and services
- Managing subcontracted labour
Budgets and work orders
- Planning and projecting budgets
- Managing financial risk
- Project collaboration
Making commercial decisions
- Making decisions under pressure
- Managing variations and scope creep
Monitoring and reporting
- Monitoring performance against the agreed scope
- Reporting project outcomes
This program is built on the competencies of the nationally recognised unit BSBADM409 Coordinate Business Resources, which is a unit of the BSB40520 Certificate IV in Leadership and Management. Participants will leave with a statement of attainment for this unit, which can count towards the Certificate program.