In the last ten years we have news about the private and public projects, provided the property must be paid from the budget, had reduced the scope of the bombing even close to the original budget. Current thinking in project management methods, discuss the financial aspects of a project at a high level, so that the “students” with no real means to a better understanding of the impact of their decisions on the financial results of the work program. In return, the business case is usually a minimum of time and rushed to finish job given. to correct investments in people and time before examining the feasibility and the business case is a necessity for the entire delivery of a project objective.

In fiscal climate, where we are, where budgets and costs are reduced, it is time to ensure that what has to finance a company, they invest it wisely – to have to do to ensure that the project at the end – Budget the costs and benefits of a comprehensive review.

In this sense – in project management methodology based Pathfinder, among the 10 most important steps to successful project management, financial

(1) on new projects – to invest the time needed to develop feasibility studies and business cases more precise, if not a rushed job – exceeded supply by the end results.

(2) Review your portfolio – you are correct, the projects, they are wealthy, and they are done for domestic policy – to ensure that each business case is robust and adds value to the company’s future – to spend time with old experienced people to and check to re-examine the business case.

(3) Comments concentrate as hard on the cost benefits. In 80% of the projects as soon as it, no one wants to go back and consider whether they delivered as promised. So, to ensure an early stage in the project that you always check and the cost is in the budget that does not change on your project have their benefits changed.

(4) Cost reduction is not always the answer – assign to resources, “added value” projects – in the minds of today’s World Cup is a simple short-term solution, do not throw the baby out with the bath water and leave the company with projects on the run no make experiences with them. Instead of reviewing your project and proceed as in (2) Focus on value creation.

(5) development of the workforce – to strengthen the capacities of their knowledge of financial management, human resources management, health and safety, motivation, etc. – so if you have a non-finance managers share responsibility for a large project, is not it time they were given the financial know-how. Do not leave financial management to chance – to develop your employees.

(6) Break down the project financially manageable sections. Too many projects on the basis of a “pot of cash” work – they spend from the budget and if luck is with them instead of the large pot and break it into sections! can be structured in connection with your project, you will see there are the budget, “work” and those most / under-utilization are -.

(7) “accountable point of contact” – too many managers will lead to the budget overrun – by (6) above – the program director responsible for the overall budget as a whole, at the same time each head parts of projects would be to manage their part of the budget. This leads to a financial manager on a project, a coherent context.

(8) A specific and meaningful financial information to enable accurate decisions. More is less – agree on this report will improve the project early and continuously, until, what the project manage the work program needs are required. As an auditor can be 20 or analysis of one month, providing each project, it does not mean it is right – the trees to save – to minimize the reporting and improve decision-making.

(9) communication – have a strong relationship between your project and CFO. Finance may be back office, they must be part of the project team and perceived as such, and thus to the lines of communication open and honest, no surprises.

should be (10) Finance, in respect of all risks or potential problems and estimated costs – if a problem or can be placed on hold the first funding, funding is limited, what they can do to be using “stragglers”.

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