Financial management in projects (5 cr)

Evaluation scale

0-5

Content scheduling

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

Objective

The object of the course
This course provides you with key knowledge and skills for the financial management and leadership of projects. You study the principles and practices needed in project management.

Course competences
• Learning to learn: The student is able to acquire, critically assess and produce information while taking into account the perspectives of different fields.
• Operating in a workplace: The student is able to utilise the opportunities of technology and digitalisation in development and management..
• Proactive development: The student Is able to develop new customer-oriented, sustainable and economically viable solutions, anticipating the future.

The learning objectives of the course
You understand the importance of financial thinking in project management. You apply economic theories and methods in practical project management situations, enabling you to make cost-effective and informed decisions. You develop your skills in planning, implementing, and monitoring projects. You identify, analyze, and manage risks associated with projects.

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 covered.

Materials

Mäntyneva, M. (2016). Hallittu projekti: jäntevästä suunnittelusta menestykselliseen toteutukseen.
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.
Pinto, J. K. (2016). Project Management: Achieving Competitive Advantage, 4th edition, ISBN 978-0-13-379807-4, by, published by Pearson Education, Inc.
Yescombe, E. R. (2013). Principles of project finance. (e-kirja)
Videos of Eduhouse

Teaching methods

Webinars in Zoom
Literature
Video material
Exercises and assignments (independent and done in pairs or groups)
Guidance and feedback

Exam schedules

The course does not include an exam.

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 135h
Webinars 8h
Familiarization with literature and videos 40h
Exercises and assignments 87h

Assessment criteria, satisfactory (1)

Sufficient 1
You recognize 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 identify the basic principles of investment calculations. You tell about the basic principles of project risks. You name the key factors related to project financing and cash flow.

Satisfactory 2
You understand processes related to project business operations from the point of view of the financial management of projects and the effects of processes on project profitability. You present the basic principles of investment calculations. You explain in your own words the basic principles of project risks. You describe the key factors related to project financing and cash flow.

Assessment criteria, good (3)

Good 3
You illustrate processes related to project business operations from the point of view of the financial management of projects and the effects of processes on project profitability. You present the basic principles of investment calculations. You introduce the basic principles of project risks. You illustrate the key factors related to project financing and cash flow.

Very good 4
You delineate processes related to project business operations from the point of view of the financial management of projects and the effects of processes on project profitability. You analyze investment calculations. You illustrate how project’s risk management is part of cost-effective project management.
You integrate the key factors related to project financing and cash flow.

Assessment criteria, excellent (5)

Excellent 5
You evaluate illustrate processes related to project business operations from the point of view of the financial management of projects and the effects of processes on project profitability. You assess investment calculations which you have made. You plan how an organization's project risk management can be developed and renewed. You compare the key factors related to project financing and cash flow.

Qualifications

Profitability, contribution margin thinking, activity-based analysis, performance measurement, key figure analysis, investments, budgeting, cash flow, forecasting, sensitivity analysis

Further information

The assessment of the course is based on the following credits done individually, in pairs or in groups:
1) exercises and assignments (100%, 5 ECTS)