A financial management process is used to ensure that the project is completed within the allocated and approved budget. The recommended process includes cost estimating, cost budgeting, cost control, monitoring, and reporting. Application of these principles should be tailored according to the size, complexity and importance of the project. Measure project performance against key project performance scope, schedule, quality, cost and risk criteria. Identify any deviations from the plan. Assess the impact of deviations on the project and overall program, and report results to key stakeholders. Recommend, implement and monitor remedial action, when required, in line with the program and project governance framework.
- Teacher: Gabor Szudi