Financial Management for Development Projects

OBJECTIVES The course enabled the participants to: • 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 • Operate the project financial system: manage stakeholders, collect and use financial data, manage budget changes, fiduciary risks and financial controls • Know the legal, operational and financial implications of project financing or funding agreement(s) on project implementation operations and on financial reporting • Understand the key features of a customized project financial management system in view of identifying computerized solutions and systems and developing 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 CONTENT Distance component: The first part of the course has been delivered online on the E_campus platform, through the ITCILO self-guided modules covering the following topics: • Understand the fundamental definitions, concepts, boundaries, implications and standards of Project financial management • Introduction to the preparation of the project budget in accordance with the agreed accounting system(s) and keeping into account procurement requirements and staffing needs • Risk management: identify implications of risks on the project financial management; most vulnerable areas of fiduciary risks Face to face component: The second part of the course has been delivered through face-to-face training at ITCILO training in Turin and focussed on: • Practical work, such as group work on case studies including the compilation of a budget, • Complementary aspects, such as audits, controls, reporting, project closure, as well as offer the possibility of actively interacting with subject- matter experts.