Develop sound knowledge and skills required to perform the task of a project finance officer. Accountability, transparency, sustainability and cost-effectiveness have become core issues in development organisations. As sound financial management becomes more and more of a priority, non-financial project officers increasingly require a basic understanding of financial management tools and techniques.
If you are a project officer you may ask yourself questions such as: How do I Record and Report on the financial position of my project? How efficiently do we utilize our resources and what resources do we need for the future? How do I plan for the next set of activities to be done? How do I report my performance in financial terms and obtain the next stage of financial support for my project? How do I implement the right financial controls for my project?
As a project officer it is imperative for you to be able to answer the above questions during the implementation of your project. This course will equip you with the basic techniques to do just that.
Course objectives
This course aims to provide you with basic knowledge of financial management. You will be introduced to financial management techniques and tools in order to record and report on the financial performance of a project. This will enable you to understand the purpose and need for financial management for the various stakeholders involved. Be able to link development interventions with financial frameworks. Understand how the financing and implementation of projects is a joint responsibility for financial staff and programme staff
By the end of the course you will be able to:
- Enhance transparency and increase financial accountability of your project
- Maintain the right financial records for your project activities
- Draw up budgets, Cash flows and monthly financial statements
- Avoid major financial risks, through the implementation of financial control processes
Participants
Course content
Financial management
Financial tasks and responsibilities of the project officers will be discussed in the context of improving internal communication, enhancing transparency and increasing financial accountability.
Financial analysis
You will learn how to record and report on the financial position of a project and analyze future resource needs.
Financial planning
The principles of resource allocation and budgeting, and the presentation of a transparent budget to donors will be introduced.
Financial control
You will learn how to identify potential financial leakages and identify policies and procedures to control the impact thereof, ultimately reducing financial risk to the project. You will use the tools developed on the course to identify and formulate the key requirements for an effective financial administrative system for your project.
Training method
During the course you will apply the financial concepts and instruments taught through examples of development projects. In addition to cases provided by the trainers you are invited to bring financial information from your own project.
PFM Course outline
| Day 1 | Opening of the Course and Introductions Introduction to Development Aid and its history Working within a Policy Cycle Introduction to Project Cycle Management & Operational Financial Management Cycle |
| Day 2 | Budgeting Liquidity Planning Financial Statements Financial Reporting |
| Day 3 | Using Financial Ratios Using Financial Ratios Introduction and purpose of Auditing Organizing and conducting an Audit |
| Day 4 | Introduction to Financial Control Educational Tour Educational Tour Designing a financial control system |
| Day 5 | Group discussion on how to implement learnings Group discussion on how to implement learnings Personal Action Plan Evaluation, Certification & Wrap up |