WHAT YOU WILL LEARN

- Financial accounting and budgeting procedures
- Applied Finance, Short & Long term
- Engineering Economic Analysis Techniques
- Capital budgeting and resource planning
- Financial Risk Analysis
- Procurement and contract procedures; contract management

At the conclusion of the course, the students will be able to:

1. Interpret balance sheets and income statements (P & L’s)
2. Apply cash flow techniques
3. Understand business plan fundamentals and key components
4. Evaluate of the contents of business plans
5. Apply inventory control procedures and supply chain management
6. Use methods of supply analysis, procedures such as JIT, to monitor inventory and ensure sufficient supplies
7. Understand financial constraints
8. Identify available and alternative funding sources
9. Develop funding proposals and implement funding plans
10. Calculate economic equivalence, inflation, purchasing power of money
11. Perform cost estimation
12. Apply engineering economic analysis techniques such as NPV and ROI
13. Interpret engineering economic analyses
14. Develop financial projections (cost of capital, working capital management, profitability and liquidity, cash flow analysis, tax effects, equipment, facilities, and equity)
15. Establish capital resource requirements
16. Understand capital rationing
17. Measure return on investment
18. Establish and monitor a capital budget
19. Apply tools and techniques of risk analysis
20. Perform risk analysis and interpret results
21. Assess the financial risks of introducing new technology into various markets, and selecting appropriate business models
22. Communicate results and recommendations
23. Understand contract procedures and regulations
24. Provide proper documentation of contracts
25. Understand the Uniform Contract Format (UCF)
26. Prepare contracts
27. Interpret contracts
28. Manage contracts
29. Interact with contract personnel

WHO SHOULD ATTEND

All engineering managers responsible for finance and procurement issues.