Certification Programme on Financial management for development projects

Beyond its administrative dimension, financial management is a strategic function of project management. In development projects, sound financial management is an essential prerequisite for successful project implementation. The timely collection and recording of the financial data within the budget and scope of the project deliverables and an attentive financial analysis that ensures a correct allocation, use and reporting of funds is crucial for accountability, effective decision-making and the implementation of controls and corrective measures by project management. 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, and to assist auditors in an efficient manner. OBJECTIVES This certification attests that participants can competently design and operate project financial management systems 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 I. Distance learning modules The online certification programme was delivered through the ITCILO online platform, its eCampus. Participants completed the following eight tutor-guided learning modules: 1. Introduction to project cycle management and the financial ecosystem 2. Project funding sources, mechanisms and legal dimensions 3. Work planning and budgeting 4. Project procurement and staffing 5. Risk management and fiduciary risks 6. Project audit 7. Financial monitoring, reporting and control 8. Project financial closure II. Knowledge tests, learning activities and webinars For every module, participants were required to study the content, to respond to a knowledge test and to practise what they have learned by applying the knowledge, tools and techniques through a learning activity in order to develop their skills. Weekly webinars with ITCILO experts also complemented the learning path of participants. III. Completion of practical assignments Throughout the programme, participants also completed weekly practical assignments to put in practice the learning in the context of their own project. The practicum resulted in participants performing the essential tasks needed to design and operate effectively a project financial system. Each practical assignment and case study was assessed through a scoring system by an expert who also provided comments for improvement. ACHIEVEMENT This certificate of achievement is delivered only 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 (25 hours) • Completion of eight tutor-guided online learning modules • Acquisition of practical knowledge for each module II. Practical case studies and assignments (30 hours) • Completion of eight practical learning activities and eight individual 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, norms and standards to properly and successfully engage stakeholders and provide necessary internal support in financial management. NUMBER OF HOURS: 60