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. |