Web-Based Systems for Assisting PM Students Learn Financial Analysis Methods

Abstract

First year project management students have challenges in comprehending financial analysis (Net Present Value, Return On Investment and Payback Period) methods which are used in selecting a suitable project. One of the contributing factors to this challenge for them is that many of them are encountering these concepts and methods for the very first time. They then require an intensive level of guidance and practice so as to develop their level of confidence and also to re-enforce these concepts in their minds. Lecturers are not always available for guiding students through in their journey of knowledge discovery of financial analysis methods. It is on the basis of this that this research study proposes the use of a web-based, problem-based interactive system called NeRePa, to help students learn financial analysis methods. NeRePa is aimed at improving students' understanding and learning experience on financial analysis methods. Such a tool enables students to gain hands-on problem-solving skills and knowledge. This research paper represents a work in progress in as far as the development of the system is concerned. The authors of this paper are in the process of developing the NeRePa application. Once it has been fully developed, the tool will then be evaluated for its effectiveness in improving students' learning experience with regard to financial analysis methods in project management.