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 projects 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.

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.