Project Finance Essentials
This three-day course aims to build the confidence and skills of field-based project staff to use financial management tools to implement project activities in a cost-effective, controlled and accountable way.
Who Should Attend
This course is designed for non-finance project staff in International NGOs who manage or directly implement projects in the field. You do not need a background in finance to attend this course. This course is not suitable for finance staff or for local NGO project staff – please see Getting the Financial Management Basics right. We recommend that you read this course outline carefully to make sure the content is relevant and meets your learning requirements. If you have any questions please do contact us.
What You Will Learn
The final balance of course content will be decided by those attending the course, according to their interests and training needs. The core components of the course include:
- Key concepts and tools: how financial management will help you achieve your project goals
- Essentials skills: financial planning, keeping accounts, financial monitoring, and internal control
- Making sense of the figures: reading, analyzing, and interpreting financial information for project management.
Welcome and overview
- Introductions and overview
- Personal goals
Good practice frameworks and tools
- Key financial management concepts
- The Seven Principles and Four Building Blocks
- Who does what in financial management?
- Getting organized - coding structures
Financial planning essentials
- The financial planning process
- Activity-based budgeting in project management
- Phasing budgets for project monitoring
- Cashflow forecasting – having cash when you need it
- Managing multiple donor-funded projects
- Which records you need to keep - and why
- The financial accounting process
- The 3 Ps of procurement: process, people, and paperwork
Financial reporting essentials - internal reports
- Financial reports – who needs what and when?
- Understanding the budget monitoring report
- Variance analysis in project budget management
- The impact of ‘commitments’
Financial reporting essentials - external reports
- Donor reporting and monitoring
- Understanding the annual financial statements
- Ratio analysis techniques
Internal control essentials
- 4 Key actions - direct, protect, detect, correct
- Internal control in the field – what goes wrong?
- The role of audit and the auditor's report
- Making links – summary of key learning
- Action planning
- Course evaluation and certificates