Financial Management
Project Financial Management is a process which brings together the following:
planning
budgeting, accounting
financial reporting
internal control
auditing, procurement
disbursement
physical performance of the project
This in itself aims to managing project resources properly and achieving the project’s objectives.
The concept of Project Management, it is a strategic competency for organizations and can make
the difference between a successful project and audit reports.
At its core, effective Financial Management is an ongoing process that features a cycle of good
management habits. It means planning, organizing, directing and controlling the financial
activities such as procurement and utilization of funds of the institution or enterprise in a
consistent and responsible manner. It also means applying general management principles to the
financial resources of a project.
For your Final Project in Financial Management, you will be developing a Project for a company
or the company that you work for.
There is a planning stage. Put on paper what your thoughts on the project. Second is budgeting
and accounting. This should be taken into consideration because a project has funding to it. What
is Internal Control? What is the auditing and procurement process? What is your disbursement
process? Finally, give a summary of the physical performance of the project. What are some
positive and negative things that could happen?
This can be done as a PowerPoint at least 15-16 slides or by a 3 page Word Document. Make
sure to cover all the topics.
