Gaber Elmahdy
Sound financial management is essential for effective decision making and the implementation of controls and corrective measures by project management.
Financial professionals with a solid background in the financial management of development projects can provide the necessary support at different stages of project implementation, leading to the achievement of the expected results over the life of the project through the efficient and effective use of funds. This process involves adherence to procedural/operational rules that may differ from donor to donor, but are underpinned by the agreed common denominator of principles of accountability and transparency.
This course, offered by the Development Cooperation Academy, helps build the key skills needed to establish a sound financial management system. This includes aspects related to: budget planning and preparation; compliance with contractual obligations; staffing; procurement; coordination with other beneficiaries; accounting principles and standards; timely collection and recording of financial data within the budget and project deliverables and careful financial analysis; monitoring and reporting; submission of payment requests; organisation of internal controls and preparation for external controls; final project closure.
This certification programme in financial management for Development Professionals provides essential information needed by those who manage, implement and monitor projects on behalf of implementing agencies, including government departments, international organisations, non-governmental organisations and other public or private sector implementing organisations.
OBJECTIVES
This certification attests that participants can competently design and operate in project financial management and execute corresponding transactions, financial controls, collection and use of financial data, preparation and revision of projects’ budgets in accordance with sound professional standards and the harmonized requirements of donors and their respective governments.
PHASES AND CONTENT
I. Distance learning modules
The distance-learning component was conducted via the ITCILO eCampus platform. During this phase, participants were introduced to: project cycle management and the financial ecosystem; project funding sources and mechanisms; projects’ legal dimensions.
This content was covered through two online self-guided modules.
II. One-week workshop and the Development Cooperation Academy
The second phase featured a one-week workshop organized by the Development Cooperation Academy. During the workshop, participants completed the remaining modules: work planning and budgeting, project procurement and staffing, risk management and fiduciary risks, project’s monitoring and reporting from a financial perspective, internal and external controls including external audit, projects’ closure. Additionally, participants engaged in a daily 90-minute global forum with 120 attendees, as part of the Development Cooperation Academy. These discussions delved into the definition and significance of Social Justice for the ILO, addressing topics such as the just transition in the context of integrating environmental sustainability into capacity development through systems approach, including analysing it from the regional perspective focusing on the Global South, and the role of social safeguards in project cycles. These sessions offered participants comprehensive and strategic insights into the evolving landscape of development cooperation.
III. Practicum at distance
Following the week-long workshop, participants completed a practicum/coaching phase with the support and guidance of ITCILO experts
ACHIEVEMENT
This certificate of Achievement is delivered to the participants who have produced the required deliverables by completing successfully the self-guided learning modules, the knowledge tests, the case studies and the assignments.
I. Distance learning modules and knowledge test (35 hours) conducted online via ITCILO eCampus
• Completion of three self-guided online learning modules
• Completion of 4 knowledge tests, 3 assignments and 2 collaborative activities
• Acquisition of practical knowledge for each module
II. Face-to-face workshop (30 hours) in Turin, Italy
Completion of practical learning activities and group assignments to simulate performing the essential tasks and analysis needed to manage project financial management efficiently
III. Soft-skills, ethics and engagement of stakeholders in M&E (5 hours)
Participation in online learning activities to familiarize with good practices in reporting’s norms and standards to properly and successfully engage stakeholders.
Number of Hours: 70