Sound Financial Management in Development Projects Context

Sound Financial Management in Development Projects Context

Course Description

Sound financial management is critical to the success of all development projects. This course defines the components of effective financial management within the context of the development project life cycle. It examines the financial tools and techniques available for the efficient implementation of projects and for assessing the effectiveness of project financial management systems. It covers: budgeting; accounting standards; procurement and contract management; performance measurement; financial management staffing; audit and internal controls. This course will explore the processes needed to implement appropriate project risk mitigation strategies and set up monitoring of performance indicators and reporting for effective decision making. Participants will assess their own financial management systems and develop action plans for improvement of these systems.

Learning outcomes

By the end of this course the participants will be able to:

• Adopt appropriate financial tools and techniques for managing projects

• Understand the dynamics and principles involved in the use of donor systems

• Assess existing project financial management systems and effect needed improvements

• Understand how to appraise and choose between various prospective project investment opportunities using discounted cash-flow analysis

• Formulate project plans and budgets and understand their impact on project profitability and cash-flows

• Align project procurement and contracting processes with international best practice

• Use integrated financial management information systems to enhance project efficiency and effectiveness

• Evaluate project implementation risks and minimize them by establishing appropriate internal controls

Who should enroll?

This training course is recommended for accountants and finance managers in projects. It is also ideal for managers, program/project coordinators and other project staff whose roles involve management of finances for their organization.

Send an email to [email protected] to request a course training agenda