PROGRAMME MANAGEMENT

PLEASE READ THROUGH THE QUESTION, RESEARCH AND ANSWER ACCURATELY

CASE STUDY

What key financial questions would you ask to inform your decisions?

You know it's important to weigh the costs and benefits before committing resources. So what are the crucial strategies when preparing a budget? How can you use past financial data to inform your assumptions? And how can you ensure your budget will help you meet your strategic goals?

As you have discovered, financial tracking is an important element of programme management. You also learnt that there are four main steps involved in financial tracking: populating a budget spreadsheet, checking financial data, interpreting financial reports, and communicating financial data.

This discussion forum offers you an opportunity to further explore tracking a programme's finances in the Implementation and Monitoring Phase.

Think of a project or programme - in your work or personal life - that you participated in or are familiar with. Draw on those experiences and discuss the following questions:

• In what ways did the need for financial tracking become evident? What disadvantages resulted from a failure to track programme finances adequately? Alternatively, were there any advantages to successfully tracking finances?
• In what ways did you use financial information to inform your decision-making? What key areas of the programme did financial information improve?

Research and Answer Correctly.

Please keep your answer BRIEF.