Financial management II (3 ECTS)

FULL ONLINE – October 2025

Objective of the module is to provide participants with theoretical tools and practical techniques used in understanding the construction of performance indicators and the role of internal control and risk management in the organization. Furthermore, it provide participants with concepts of cost accounting, activity based costing, and price formulation for commercial services in order to better explain the complexity of financial management in the RI. Although the module will not make them experts in planning and controlling, they will however be provided with the necessary tools for planning and controlling the RI performance and to understand where improvements can be made to enhance final results.

This course provides a study of the basic concepts in financial management and fundamental issues relating to risk management, internal control, cost measurement of activities and projects, and performance indicators. The emphasis is on the tools to measure where the main improvements in value will come from and then, on the definition of KPI, the latter in order to evaluate the success of the RI. The module stresses critical analyses of cost of activities and performance indicators as a basis for improved risk assessment and a better internal control.

Learning Model

Lectures, group works, case discussions, role plays, sharing of best practice, and assignments.

The programme covers the following topics

Planning and control

  • The logic of internal control
  • Budgeting and control
  • Risk Management and auditing

Cost measurement of activities

  • Cost accounting
  • Activity based costing
  • Setting the price of commercial services
  • Costs and decision-making
  • Break-even analysis

Performance indicators

  • Measuring non financial performance
  • Definition of Key Performance Indicators (KPI) for  RIs
  • The importance of KPI in order to evaluate the success of an RI

Fees & Enrolment

Participation fee: 1,200 Euros

Tuition fees include:

Teaching materials
Access to the University’s facilities
Coffee breaks and lunches during face-to-face modules
Fees do not include travel costs and living expenses. For accommodation, participants will benefit from the University’s agreements with nearby hotels. For information:

If you want more info, please send an email to and visit this page.

The Venue

This module will be held at the University of Milano-Bicocca. The University of Milano-Bicocca is located at Piazza dell’Ateneo Nuovo, 1 in Milan. Our campus benefits from the full array of learning environments and university-wide services.

How to reach us


Meet the Faculty

University of Milano-Bicocca:

Enrico Guarini, Professor of Business Administration and Management at the University of Milano-Bicocca (Read More)

Who should Apply ?

• Director Generals, Chief Operating Officers or their equivalent
• Recently appointed or upcoming senior managers
• Heads of National Nodes
• Heads of Finance and Administration, HR and Communication
• Middle management
• Representatives of funding bodies and ministries responsible for RI funding