A helpful project finance guide should be used by any project sponsor or investor who is going to make investments in a project. It is a suite of tips, ideas and basic concepts on managing and financing projects throughout the whole project lifecycle. It helps a project sponsor to step through project finance management and start planning for project budget and costs. It is the way to set project finance definition and identify all risks that might jeopardize project success.
A typical guide includes the next tips:
- Make sure your work is feasible – make a feasibility study to investigate the project.
- Define the job impact – use a business case to identify what impact your project will have on your business.
- Figure out if your project’s costs are realistic – review your budget and track finance events.
- Identify the project’s priorities – make a project finance overview to investigate which activities and tasks are prioritized and require initial financing.
To follow these tips, you need to use project management software that allows you to plan project finances and manage project activities. You can try VIP Task Manager software that helps you create to-do lists, plan task costs, set budget, measure costs, track events and schedule project activities.
- Use VIP Task Manager to plan your project by creating to-do lists and schedules.
- Use Custom Fields of the software to create project finance indicators, such as Budget, Overall Project Cost, Task Cost, etc.
- Use Filter panel to track your project and tasks by KPIs.