Kenya: Project Financial Planning and Forecasting

About ASPM.
The Africa School of Project Management (ASPM) was established in the year 2000 in Kenya as a membership based proffesional management organisation.The school was formed to address capacity building needs among development partners, donor organizations, Government agencies, International and private sector firms in Africa.

The school has been pivotal in capacity building in South Sudan, South Africa, Botswana, Eritrea, Ethiopia, Kenya, Uganda, Congo, Somalia,Liberia,The Gambia, Tanzania, Pakistan, Burundi and Rwanda. The school has trained over 12,000 staffs who are involved in different projects and also conducted surveys, evaluations and research in different projects and businesses in Africa.

The Program is designed to help the Delegates:

 Understand the principles of financial planning, forecasting and the practical problems and how to overcome them.

 Understand how economic outcomes of an organization’s decisions are planned for and reflected in the organization’s financial reports.

 Communicate more effectively with the financial executives in the organization.

 Improve financial vocabulary and acquire ability to understand and interpret financial information.

 Increase comprehension of current analytical financial planning and forecasting practices and techniques.

 Learn to use financial forecasting information in managerial decision-making.

 Discuss current financial problems with a view to generating viable solutions.

Course Content

The fundamentals of Financial Planning and Forecasting

This will address questions such as:

 What is a financial plan?

 What is the difference between planning and forecasting?

 Why is planning an important concept in managing an organization?

 Who is responsible for the financial planning function in the organization?

 Why is it important for organizations to control costs?

 Uncontrollable costs – do they exist?

 Who has the responsibility for cost management in the organization?

 How does an organization planning for its costs and revenues?

 Which are the financial statements and how do they interrelate?

 Which factors should be considered in forecasting?

 Which techniques are used in financial forecasting?

 What is a Cash flow forecast/Cash budget?

 What is an Income Statement? How can we project it out for 5 years?

 What other important items can be projected?

 What the non- financial aspects of forecasting?

Financial Planning and forecasting

 Definition of terms; Financial planning, Financial Forecasting

 Responsibilities for financial planning

 Cost management; Cost Reduction and Cost Control

 Financial Management system; financial records, Statements and monitoring.

 Qualitative and quantitative aspects of Budgeting

Forecasting and budgeting of Cash Flows

 Projected cash inflows

 Projected cash outflows

 Cash balances and cash deficits

 Cash Budget preparation

Forecasting and budgeting of labour costs

 Planning labour costs

 Recording direct and indirect labour costs

 Budgeting for labour costs

 Monitoring of labour costs

Flexible budgets: concepts, development and application

 What is flexible budgeting?

 Income and Expenditure projections

 Budget variances (income, expense and surplus/deficits)

 Use of sensitivity analysis

 Importance of flexible budgeting in practice

Forecasting models

Time-series models

 Smoothing and extrapolation

 Seasonal adjustment

 Stochastic time-series

 The autocorrelation function

 Random Walks

 Co-integrated time-series

 AR, MA, ARMA, and ARIMA models

 Diagnostic checking

Forecasting and Budgeting of capital expenditures

 Difference between capital and revenue expenditure

 Organization of capital expenditure budget approval systems

 Need for capital project monitoring

Simulation models for financial planning

 The simulation process

 Evaluating simulation models

 Model estimation

 Vector Auto regressions

 Limited data

 Dynamic models

 Stability and Oscillations

 Multipliers and dynamic response

 The impulse response function and vector auto regressions

 Stochastic simulation

Modern applications of budgetary control system

 The financial planning and forecasting process as a control system within an organization

 The behavioral aspects of accounting control systems

 Responsibility budgeting, accounting & control

 Zero based budgeting (ZBB) technique

 Activity based management (ABM)

Kindly drop us mail at info@aspm.co.ke or apply through the online form..http://www.aspm.co.ke/index.php/online-application The tuition fee is US D 2,500 for two weeks training.This caters for;

• Six hours training every day
• Training materials on soft / hard copy or both
• Certificate
• Meals-Tea at 10Am, Lunch, Tea at 4pm
• One Tour or visit to our National parks/Zoo
• Airport transfer