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What is a Management Dashboard?
The term Management Dashboard defines a wide range of data reporting and visualization tools or dashboards that allow using various performance & efficiency measures to report on an enterprise’s ability to organize and coordinate its activities in accordance with certain policies and in achievement of pre-determined objectives. What is a Management Dashboard?
 
 
 
 
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Money Management Action Plan

In this Money Management Action Plan you can read a range of tips and suggestions that will help you manage your money in an effective manner.

Money Management Action Plan
 
 
 
Home » Glossary » What is Project Financial Management
What is Project Financial Management  

What is Project Financial Management



 
 

Project Financial Management is one of the strategic processes in a project that aims to plan, direct, monitor, organize and control monetary resources of the project throughout its life-cycle. It is based on the analysis of monetary resources to ensure that every dollar invested in the project is allocated to and spent on right project activities.

Along with other strategic processes (such as risk management, time management, change management, etc.) project financial management aims to ensure successful project delivery. Its ultimate goal is to ensure balanced involvement, distribution and consumption of financial resources throughout the project life-cycle. This goal is accomplished in the following four steps:

  • Planning: conducting an analysis of the project environment to identify and estimate financial needs. It results in developing a finance management plan.
  • Allocation: distributing funds among project activities to ensure that every piece of work is provided with adequate monetary resources.
  • Monitoring: supervising and tracking status of project budget and financial resources to ensure they are on-course and on-schedule in meeting project objectives and performance targets.
  • Controlling: analyzing and interpreting project financial status to ensure achievement of desired return on investment.

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