Introduction of Project Financial Management Course

Introduction

Project Financial Management is one of the strategic processes in a project that aims to plan, direct, monitor, organize and control monetary resources of the project throughout its life-cycle. It is based on the analysis of monetary resources to ensure that every dollar invested in the project is allocated to and spent on right project activities.

Along with other strategic processes (such as risk management, time management, change management, etc.) project financial management aims to ensure successful project delivery. Its ultimate goal is to ensure balanced involvement, distribution and consumption of financial resources throughout the project life-cycle. This goal is accomplished in the following four steps:

• Planning: conducting an analysis of the project environment to identify and estimate financial needs. It results in developing a finance management plan.
• Allocation: distributing funds among project activities to ensure that every piece of work is provided with adequate monetary resources.
• Monitoring: supervising and tracking status of project budget and financial resources to ensure they are on-course and on-schedule in meeting project objectives and performance targets.
• Controlling: analyzing and interpreting project financial status to ensure achievement of desired return on investment.

Program Description

This course is designed to enhance managerial and technical skills for participants responsible for the budgeting and financial management of development projects. The focus is on up-to-date knowledge and quality control issues of budgeting and finance as well as relevant work processes in the project implementation phase. Course content covers the role of Project Cycle Management (PCM) and the Logical Framework Approach (LFA) in financial management, budget planning, financial procedures, and financial control and assurance. The course will take the form of in-house sessions with practical assignments.

Entry Requirements

• Professional/management positions in project financial management or non-finance programme managers, project officers, or designated consultants involved in project implementation
• Adequate proficiency in English to fully participate in all course activities

Learning Objectives

• Understand the role of accounting and financial management in different stages of the project management
• Connect the roles of Project Cycle Management (PCM) and the Logical Framework Approach (LFA) in developing the budget plan
• Understand the financial process, procedure and methodology for day-to-day management during project implementation
• Set project financial designs with clear objectives for progress and result measurement
• Process and analyse data to assess the level of achievement

AFC Institute of Financial Management - AFC Vietnam
Address: 3rd – 10th Floor, Thang Long Building, 105 Lang Ha Street, Dong Da District, Hanoi city
Phone: +84 4 3562 7486
Fax: +84 3562 7487
Email: info@afc.edu.vn
Website: http://afc.edu.vn/      http://acca.edu.vn/      http://financialpro.vn/