| Overview
The two previous Authentic Learning Tasks (ALTs) focused on the
basic skills and tools involved in financial management: the analysis
of financial data using static displays such as balance sheets and
income statements.
This ALT introduces you to another important financial analysis
skill: the analysis of financial data through or across time using
dynamic financial displays. This type of analysis functions as a
fiscal reading of a company’s financial health, allowing past
financial data to be compared to present financial data. These comparisons
allow a project manager to detect and observe past anomalies and
forecast future financial behavior. In addition, data analysis that
is through or across time helps the project manager take corrective
action in order to rectify current financial problems and avoid
future problems.
In this ALT, you are introduced to basic cumulative summary (CS)
charts as a means for analyzing a company’s financial status
across time. Working in teams, you use cumulative financial expenditure
data—both actual and budgeted—to assess the current
financial health of an engineering project. In addition, you use
the data to forecast the future likelihood of an overrun or underrun.
After completing this ALT, you should be able to demonstrate the
following competencies:
- Recognize the basic elements of financial reporting
(Comp. 1).
- Interpret basic financial data and reports (Comp. 2).
- Provide input to and use the results of activity based accounting
and/or financial tracking systems (Comp. 3).
- Use financial principles to manage projects, budgets, and processes
(Comp. 4).
Materials and Equipment
No materials or equipment are needed to complete this ALT.
Safety and Disposal
No special safety or disposal procedures are required.
Pre-Activity
To prepare for the activity:
Self Assessment
Reassess your personal
budget.
Activity
In your team, perform the following steps
to complete the activity:
- Refer to Instruction Sheet: WTN Projects, and complete Data
Sheet: Analysis of WTN Projects.
- Refer to Instruction Sheet: Dynamic CS Chart, and complete Data
Sheet: Dyanmic CS Chart.
Post-Activity
Your team should now post its results from the activity to the
Discussion Board.
Assignment
There are no instructions to prepare for ALT #4: Basic Statistical
Process Control Charts.
Assessment
Your facilitator may use Assessment Sheet: Basic Cumulative Summary
Charts to evaluate your results from the activity and your posting
to the Discussion Board.
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Financial Management
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