Financial Management of Projects (5 cr)

Evaluation scale

0-5

Content scheduling

The course includes independent familiarization with literature and videos as well as lectures and exercises and assignments.

Lectures (wk 35-47)
Autumn break (wk 42)
Exam (wk 48)
Exam resit 1 (wk 50)
Exam resit 2 (wk 51)

To be passed need time to stydy weekly. In addition to lectures, reserve approximately 6-8 hours of time in your calendar each week for this course.

Objective

The object of the course
The outcome of the project can be unambiguously measured from the profitability point of view. This course will provide you with the key knowledge and capabilities for the financial management of projects.

Course competences
Ethics
Business competence

The learning objectives of the course
During this course, you will familiarize yourself with the financial management of project business operations and projects as well as the logic, principles and methods of financing. You are able to prepare calculations to determine the financing, cash flow, investments, costs and profitability of projects. You are able to identify and examine development targets from the perspective of enhancing the efficiency and profitability of projects. You are able to review and analyze processes related to project business operations and put forward development proposals for them. You are able to model tools for running profitable project operations.

Content

During the course, project business operations, project financing, project portfolio management, project phasing and partitioning, project timetable, resource and cost control, project reporting, risk management, cash flow and investment calculations will be discussed.

Materials

Artto, K., Martinsuo, M. & Kujala, J. (2008). Projektiliiketoiminta (2. painos). Helsinki: WSOY. ISBN 978-952-92-8534-1 (verkkoaineisto).
Pelin, R. (2020). Projektihallinnan käsikirja (8. uud. painos). Helsinki: Projektijohtaminen Risto Pelin. ISBN 978-952-67201-2-8 nidottu.
Saaranen, P., Kolttola, E. & Pösö, J. (2016). Liike-elämän matematiikka (11. uud. painos). Helsinki: Edita. ISBN 978-951-37-6971-0 (verkkojulkaisu) ja ISBN 978-951-37-6891-1 (nidottu).

Teaching methods

Lectures in a classroom in Rajakatu campus
Books
Video materials
Learning tasks
Guidance and feedback

Even though the course is offered during the day, the implementation is such that it can also be completed by part-time students

Employer connections

Possible company visitors will be confirmed during the course.

Exam schedules

Exam will be held on week 48.
Two resit examinations will be held according to Degree Regulations and the dates will be on week 50 and 51.

Completion alternatives

A corresponding course completed in another university may be accredited partially or completely. Competence acquired through informal learning may be recognized and accredited on the basis of competence test. More precise instructions can be found in Degree Regulations and in Study Guide.

Student workload

Allocation of time on various tasks and student work load in total 135 h
Lectures and exam 20 h
Independent familiarization with literature and videos 35 h
Exercises and assignments alone and in a group 80 h

During the teaching and guidance contacts you familiarize yourself with the contents of the course and you present the exercises done by your group.

Assessment criteria, satisfactory (1)

Adequate 1
You are able to name processes related to project business operations from the point of view of the financial management of projects and know which processes affect project profitability. You understand the basic principles of investment calculations and are able to prepare an investment calculation for the example company. You are able to explain in your own words the basic principles of project risks. You recognize project-related steering mechanisms and master the key factors related to project financing and cash flow.

Satisfactory 2
You are able to present processes related to project business operations from the point of view of the financial management of projects and recognize the factors related to the management of project profitability. You are able to prepare an investment calculation and cost control calculation for the example company under guidance. You recognize factors affecting project steering mechanisms in the example company and are able to name key factors in project financing and cash flow in companies operating in different industry sectors.

Assessment criteria, good (3)

Good 3
You are able to outline the basic processes of project business operations, itemize the process steps from the point of view of the financial management of projects and describe the impact of processes on profitability. You are able to prepare error-free investment and cost control calculations and apply calculation methods in support of the financial management of projects. You are able to draw up a profitability analysis based on investment calculations and cost control. You are able to define factors affecting project steering mechanisms in the example company and are able to define key factors in financing and cash flow in companies operating in different industry sectors.

Very Good 4
You are able to assess the basic processes of project business operations from the point of view of the financial management of projects. You are able to develop profitability analyses based on investment and cost control calculations. You are able to define the effects of project steering mechanisms in the example company and the significance of financing and cash flow in companies operating in different industry sectors.

Assessment criteria, excellent (5)

Excellent 5
You are able to plan the basic processes of project business operations from the point of view of the financial management of projects. You are able to plan active measures based on investment cost control calculations to influence the development of project profitability. You are able to assess the
impact of project steering mechanisms on the example company and report the actions taken based on it and the impact of financing and cash flow in companies operating in different industry sectors.

Qualifications

Basics of business mathematics and accounting.

Further information

The course is included in Business control specialization (Liiketoiminnan ohjaus). The course is recommended for the financial management and managing resilience students.
The assessment of the course is based on the following credits:
1) exercises and assignments (50 %)
2) exam (50 %)