Financial management for development projects
Online
Financial management for development projects
1 May–23 June 2023
The course is available in English
Introduction to the course
The financial management of development projects is more than an administrative and control function. Sound financial management is a critical prerequisite for successful project delivery. Timely and precise financial data are indispensable for effective decision-making, as well as for corrective action on the part of project management to enhance the prospects of timely completion within the planned project budget and scope of deliverables. Sound project financial management provides the essential information needed by those who manage, implement and supervise projects, including government oversight agencies and financing institutions. It also provides reassurance for recipient countries, lenders and donor communities that funds have been used efficiently and for the purposes intended, and acts as a deterrent to fraud and corruption, since it provides internal controls and the ability to quickly identify unusual occurrences and deviations. By acquiring the competencies needed to set up the various components of an integrated project financial management system, with corresponding modules/procedures for planning and budgeting, accounting, financial reporting, internal control, auditing, procurement and disbursements, you will be able to position yourself as a certified and credible project financial officer.
Who attends this course?
Financial officers and assistants; project finance officers; administrative and finance assistants; senior project assistants; disbursement specialists; project accountants and assistants; financial management specialists; accounts managers.
Why a financial management course?
Proper project financial management is essential to enable development cooperation projects to achieve their objectives. A well planned, organized, and executed project financial management function also builds confidence by demonstrating to stakeholders that adequate governance arrangements are in place.
What will I learn? (agenda)
- Understand the fundamental definitions, concepts, boundaries, implications and standards of project financial management
- Prepare and present the project budget in accordance with the agreed accounting system(s) and identify key stakeholders concerned by project financial management.
- Know the legal, operational and financial implications of project financing or funding agreement(s) on project implementation operations and on financial reporting.
- Operate the project financial system: manage stakeholders, collect and use financial data, manage budget changes, fiduciary risks and financial controls
- Develop a customized project financial management system, identify computerized solutions and systems and develop an operational project manual
- Use of soft skills and knowledge to understand and manage project-related financial challenges, unforeseen situations and problems
- Adopt a lifelong learning paradigm to project financial management
What will I be able to do?
Course participants will be able to competently design and operate project financial management systems and execute corresponding payments/disbursements in accordance with sound professional standards and the harmonized requirements of donors and their respective governments.
Participants who successfully complete the training can expect to improve or enhance their knowledge and skills and be able to:
- Explaining fundamentals, definitions and concepts of project financial management:
- Capturing financial parameters in project core documents to the design the financial management system
- Customizing the project financial system
- Operating the project financial system: budgeting, monitoring, controlling and reporting
- Closing project financially and coordinating auditors
- Identifying ethics challenges and applying soft skills in managing project financial resources
Why should I join?
This course is delivered through distance learning and deployed on the ITCILO e-campus. It frees you from the classroom and gives you the flexibility to complete the learning modules at your own pace and to fit the weekly assignments and the carry-through assignment within your own schedule.
