Why Every Project Managers must do Financial Modeling

As a project management professional, you need to work with several individuals in many different roles. As a project manager, you’re inferred to be a leader, and know how to read body language, negotiate, and other infinite skills. Project Managers can be able to build, review or analyze project finance models at all levels. Practice Finance Modelling will give you the tools you need to build and analyze robust and transparent cash flow based financial models and significantly increase your Excel efficiency as well.

Skills required for Project Managers:

As the project manager, you are responsible for planning, budgeting, and document all aspects of the specific project you are working on. Project managers need to work closely with management team to make sure that the scope and direction of each project are on schedule or not. From education perspective project managers require various skills depending upon the field of work you do. Skills that must have in you is leadership skill, time management skill, Budgeting skill and analytical skill. The roles and duties of project managers are as follows.

  • Coordinating employees with the third parties/vendors for the immaculate execution of projects and  ensuring all projects are delivered on-time and within budget
  • Measure project performance using appropriate system tools and techniques
  • To be a successful project manager you must have the solid technical background or hands-on experience in software development and web technologies
  • Project Managers distributes budgeted money equally to all the parts of the project to run the project’s activities flawlessly.
  • As a project manager, you make recommendations on what insurance policies to take for a project and prepare a risk management reports when an insured event occurs.
  • You are liable to use a spreadsheet application and know how to handle with the data and numbers.
  • You must have to work smarter with keyboard shortcuts, create complex financial models, mine data like an expert and display your findings beautifully.
  • You need to prepare spreadsheets to help budget calculations, sum adjustments. Basically which means you must have a strong knowledge of financial modeling.

Although financial modeling skill set have a beneficial impact on making better business decision, but it is not taught us in any finance or accounting courses. Financial modeling helps to reach at optimal business solutions by analyzing various parameters.

What is Financial Modeling?

Financial Modeling is used for future planning of company’s long term goals according to different situations that may arise. The output of a financial model is used for decision making and performing financial analysis. Most of the financial analysts have to work with large amount of data as well as numbers. Almost each one of them uses MS Excel to create financial models to analyze and plan financial statements. A supremacy over financial modeling will give all the financial analysts an edge over others as they can do their work faster and accurately.

What will you learn in Financial Modeling?

The purpose of Financial Modeling is to build financial model which can enable you to take better financial and budgeting decision. Financial Modeling helps reach at optimal business solutions by analyzing various parameters such as operations, investment, financing and valuation. Financial modeling usually relates with corporate and quantitative finance applications. In financial modeling you will learn various aspects of business such as

How financial modeling helps to Project Managers?

Whether you work in information technology, healthcare, manufacturing, e-commerce, energy, construction or business services – all of these industries are in need of project management talent. 

Project managers takes initiatives to remain market competitive that positively impact on company’s business plans and business goals. If you are looking for more growth in your career, financial modeling skill set will definitely help you. After getting trained in financial modeling, Project managers can understand the business knowledge correctly and deliver value and benefits to the organization, the client and the employees. 

Not only the better career opportunities but also a huge salary hike you will get after completing the financial modeling training from a reputed institute. Average salary of 10 lakhs per annum a project manager will have after getting the financial modeling certification.

Project managers require to handle business projects in order to accomplish such varied goals as leading teams, satisfying clients, balancing budgets, meeting deadlines. This type of skills are developed only when you take part in a structured training of financial modeling.

If you have finalized your goal of attaining the Financial Modeling Certification, the next step is to enroll in a good institution that provides training for Financial Modelling and you don’t need too far to search for it. EduPristine provides training for the Financial Modelling Course that will help you to get a kick start in your career.

EduPristine: Trusted by Fortune 500 Companies and 10,000 Students from 40+ countries across the globe, it is one of the leading International Training providers for Finance Certifications like FRM®, CFA®, PRM®, Business Analytics, HR Analytics, Financial Modeling, and Operational Risk Modeling. EduPristine has conducted more than 500,000 man-hours of quality training in finance.