"Effective financial management stands as a cornerstone for the triumph of developmental projects. This course meticulously dissects the elements of proficient financial management within the development project's lifecycle. It scrutinizes financial tools and techniques pivotal for streamlined project execution and evaluation of financial management systems.
The syllabus encompasses budgeting, adherence to accounting standards, procurement strategies, performance measurement, staffing for financial management, and the establishment of audit and internal control mechanisms.
Throughout the ten-day duration, participants embark on a journey to implement apt risk mitigation strategies and establish a robust framework for monitoring performance indicators, ultimately fostering effective decision-making. Self-assessment of existing financial management systems prompts the creation of targeted action plans for system enhancement. Upon completion, participants are empowered to wield pertinent financial tools, discern the dynamics of donor systems, optimize prevailing financial management systems, and make informed choices among potential project investment avenues using discounted cash-flow analysis. The course further equips participants to craft project plans, align procurement processes with international best practices, and bolster project efficiency through integrated financial management information systems.
Moreover, participants become proficient in evaluating and minimizing project implementation risks by instating judicious internal controls.
The course delves into key topics encompassing the project life-cycle, documentation, management, implementation structures, financial management, controls, tools for assessing project financial systems, international public sector accounting standards, budgeting, accounting policies, reporting, monitoring, evaluation, governance, fraud prevention, procurement strategies, information systems, and the dynamics of country and donor financial systems. The course encapsulates weeks three and four of The Development Project and Financial Management Toolkit."
• Project life-cycle, project documentation and project management
• Project implementation structures, financial management and controls
• Tools to assess project financial management systems
• International public sector accounting standards
• Budgeting, and accounting policies and procedures
• Reporting, monitoring and evaluation
• Governance and fraud prevention
• Procurement for development projects
• Information systems
• Country and donor financial systems
• Project appraisal techniques and internal and external audit.
On completion, you 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
• 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 minimise them by establishing appropriate internal controls