Business Economics for IT (On-line)

This training represents the financial management from an IT perspective. Finance is the common language which allows the organization to communicate any aspect of its activities. The IT activities have financial implications too. Managing finances in area of IT is a part of overall financial management of the organization, but has specific challenges. Understanding the new business models in the IT industry and expressing them in financial terms can lead your organisation to a new level of maturity. Specific requirements and recommendations to the financial side of IT are given in international standards and best practice like ISO 20000 IT Service management systems and ITIL. Project and team leaders of IT projects face variety of problems when developing and managing budgets for waterfall- and agile- projects, and estimating the financial parameters of projects’ outcomes.

The course answers several questions:

  • What are the key financial terms needed to understand financial reports?
  • What are the key principles, rules and assumptions for reporting financial data in company?
  • What are the resources the business explore?
  • What are the sources of financing?
  • What is the wealth of the business?
  • What are the cost categories?
  • What are the IT specific cost categories and processes for managing finances, required and recommended by IT Service management standards and best practice?
  • How to budget for waterfall- and agile- projects?
  • How to apply flexible  pricing methods?
  • How to calculate return on investments in IT-projects and return on investments in information security?
  • How to use financial ratios for decision making, etc.

Target audience

The matter under discussion on this training is suitable to:

  • Owners and managers of IT organizations; waterfall- and agile project managers and team leaders; specialists in finance and account who are responsible for IT-budgeting, accounting, pricing, and financial analysis;
  • Professionals with non-economic background who need to be able to participate equally in decision making with the use of financial information;
  • Specialists responsible for the implementation and operation of service financial management practice.

Benefits for the participant

The benefits for the participants in this training are:

  • Knowledge about the financial language, principles and rules, needed to understand financial report,
  • Knowledge about specific requirements, recommendations and processes for managing finances in IT provided by IT best practice and ISO standards,
  • Knowledge how to apply financial management when working on waterfall- and agile- IT projects,
  • Practical advises how to apply financial management in area of IT,
  • Practical exercises based on realistic business cases in area of IT,
  • Complementing the knowledge acquired in the courses PRINCE2, AgilePM and AgileBA, ITIL,
  • Training resources provide in PDF,
  • Opportunity to get the international certificate EBC*L Level A Business Economics.

Training method

  • Lectures and discussions,
  • Study text, presentation, resume, activities, quizzes, case studies, exercises,
  • Implementation into real life examples and business cases,
  • Covid-19 responsible training via internet platform.

Duration

3 days.

Price

€399. Value added tax is not included.

Certificates

Certificates issued by the School of Business Competences Ltd.

The School of Business Competences, est. 2005, is accredited by:

(1) The Bulgarian National Agency for Vocational Education and Training (NAVET). The School is licenced by NAVET as vocational education centre.

(2) EBC*L International – The European Business Competences Licence as training and examination centre for EBC*L certifications.

Course programme

Introduction to the course

Module 1 – Understanding financial reports, terms and structure

  • Building a Financial terms’ Vocabulary,
  • Establishing the foundations of  principles, rules, assumptions for reporting financial data in company reports,

This Module gives answers to following questions:

  • What are the resources the business explore?
  • What are the sources of financing?
  • What is the wealth of the Business?
  • Is the company assets’ structure similar to the one typical for the sector?
  • How relevant is the policy of financing company assets to the “matching” rule from good management practice?
  • What are the popular IT related best practices and standards providing requirements, recommendations and processes for managing financial aspects of IT?

Practical tasks:

  • 4 activities, including quiz,
  • Case study,
  • Exercises.

Module 2 – Costing and pricing

  • Cost categories and cost models,
  • IT specific cost categories required and recommended by IT related best practices and standards,
  • Levels of reported profit in the Income statement. Pricing.
  • Costing in agile projects.

This Module gives answers to following questions:

  • How profitable is the main activity?
  • What is the cost structure, is it similar to the average for the sector?
  • What is Cost of Sales and how it differs from Full cost of products or services?
  • How do managers may implement Cost and Profit centres for improved cost control?
  • How to measure the contribution of different products and services to the overall business results?
  • How to apply Cost-Profit-Volume analysis when planning new activities?
  • How to apply flexible pricing methods that reflect market situation and pricing for IT services?

Practical tasks:

  • 4 activities, including tests,
  • Case study,
  • Exercises.

Module 3 – Business objectives and ratio analysis

  • Approaches to management decision making based on financial ratio analysis:
    • Analysis for short term decision making based on liquidity, profitability, efficiency, utilization of assets,
    • Long term decision making based on information about long term financing, and investment evaluation – ROI, NPV, Payback.
  • Implementation in practice to an IT project: in pre-project stage, along the project lifecycle, and after the project stage. Agile projects specifics.

Practical tasks:

  • 4 activities, including quizzes,
  • Case study,
  • Exercises.

Module 4 – Preparation for EBC*L Level A Business Economics certification exam

  • Commercial law:
    • Categories of registrations of for profit and non-profit organizations,
    • Advantages and disadvantages of different registration forms.

This Module gives answers to following questions:

  • What are the obligations of owners in case of business bankruptcy?
  • How to manage the risk when signing a commercial contract?

Practical tasks:

  • Study text,
  • Quizzes.

Certification exam