Financial management for development professionals

Financial management for development professionals 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 implementing corrective action by the project management in order to enhance the prospects of timely completion within the planned project budget and scope of deliverables.

Sound project financial management provides:

• essential information needed by those who manage, implement and supervise projects, including government oversight agencies and financing institutions;

• the comfort needed by the recipient country, lenders and donor community that funds have been used efficiently and for the purposes intended; and

• 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 for setting-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

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.

CONTENT

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

• 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

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.

Completion of 8 self-guided online learning modules

Completion of 7 knowledge tests, 8 assignments and 7 collaborative activities

Acquisition of practical knowledge for each module

Participation in online learning activities to familiarize with good practices, norms and standards to properly and successfully engage stakeholders and provide necessary internal support in financial management

NUMBER OF HOURS: 60