Enable students to acquire a sound understanding of the financial and accounting principles, and apply these principles for decision making and control purposes in a commercial business environment. Provide students with an appreciation of the concepts and techniques of project management with particular reference to their use in an engineering and technological organisational environment.
Financial Management: The nature and role of accounting information in a modern commercial environment, financial model of a business organisation, comparison of financial and management accounting, types of company, sources of finance, the working capital cycle. Introduction to company accounts and the interpretation of a set of company accounts using key financial ratios. Capital investment appraisal net present value and internal rate of return. Breakeven analysis and cost behaviour. Absorption costing and marginal costing; cost allocation and apportionment; Budgetary control and cash-flow forecasting; Standard costing and variance analysis.
Project Management: Project selection and specification, The project life cycle, The role of the project Manager, Project organisation and responsibilities, Matrix organisations, Managing people, materials and machines, Co-ordination and control, Scheduling and sequencing, Critical Path Analysis, PERT, Effective and ineffective project teams, Cost estimation and control, Work breakdown structures, Case studies of successful and unsuccessful projects in Engineering and Technological orientated organisations and analysis of the management lessons