Please update your browser
We have detected that you are using an outdated browser that will prevent you from using
certain features. An update is required to improve your browsing experience.
-
Communicating about project finances
18 RepliesExample: Every month, the project manager and the field managers will discuss activity costs from the previous month using information from the Financial Tracking and Reporting Tool. The purpose of this meeting is to reflect on spending to date to inform future decision-making
272 Replies
-
Every month, as a project manager together with financial manager, we will hold a staff meeting to explain the last month project expenditures. At the same time, the information about remaining obligated funds will be shared with the project staff. In spite of this, I will be giving out weekly updates about project finances via email to all project staffs
6 Replies
-
1 Reply
Every month, as a project manager together with financial manager, we will hold a staff meeting to explain the last month project expenditures. At the same time, the information about remaining obligated funds will be shared with the project staff. In spite of this, I will be giving out weekly updates about project finances via email to all project staffs
-
Every monday, the Finance Manager will send out the outstanding receipts from Field Staff. No additionnal fund will be allocated if the prior receipts are not received. In addition, the Project Manager and the Finance Manager will hold a meeting to look at the tracking tool and analyse expenses
2 Replies
-
The project manager and the financial manager will have to hold a meeting with the whole team staff and break the purpose of the project to each staff and their expected role and after that the financial manager in the process have to explain to the team staff the type of tracking tool the will be used for tracking expenditures and when each staff is supposed to submitted. some of the tool required example Financial tracking and reporting tool
-
2 Replies
@Sango_Francis said in Communicating about project finances:
The project manager and the financial manager will have to hold a meeting with the whole team staff and break the purpose of the project to each staff and their expected role and after that the financial manager in the process have to explain to the team staff the type of tracking tool the will be used for tracking expenditures and when each staff is supposed to submitted. some of the tool required example Financial tracking and reporting tool
-
Every month, the financial manager and the project manager, including the whole team will have a meeting usually on the first monday to discuss about the previous expenditures and reimbursements due, and then subsequently the budget for the next month and the tracking of expenses will be shared on google drive to the rest of the team for updates.
-
With every month end, the finance manager will finalise records and hold meetings with the project manager and field manager to explain in detail the figures. Where there are cases of overspending money than initially budgeted. Then these can be tracked and the project manager can therefore do something to lower the costs
-
With every month end, the finance manager will finalise records and hold meetings with the project manager and field manager to explain in detail the figures. Where there are cases of overspending money than initially budgeted. Then these can be tracked and the project manager can therefore do something to lower the costs
-
With every month end, the finance manager will finalise records and hold meetings with the project manager and field manager to explain in detail the figures. Where there are cases of overspending money than initially budgeted. Then these can be tracked and the project manager can therefore do something to lower the costs
-
My team would engage a monthly regular meeting to analyse and review project finances with the team so as to ensure our spending is within budget lines.
A bi-weekly dashboard will also be engaged with the project manager to evaluate current progress on project finances
-
There is no need to include the entire team in these communications. Monthly meeting with the project manager and field manager are sufficient to review the current financial situation and discuss future trends so that spending can be adjusted or a request to increase the obligation can be sent to the funder, if applicable.
-
My team would engage a monthly regular meeting to analyse and review project finances with the team so as to ensure our spending is within budget lines.
A bi-weekly dashboard will also be engaged with the project manager to evaluate current progress on project finances
-
Every Monday, we will hold a physical meeting to discuss the activity expenses till date and obligated funds available for spending on each activities. Project team would be asked to submit outstanding claims and supporting documents for reimbursements.
-
Hello everyone
-
How much the minimum cost for arranged a meeting
-
1 Reply
within every month the financial managers and project managers will deliberate on monthly rports
-
As a project manager,will have the responsbiloty of calling meetings with project staff and among others we will go through the financial management plan to ensure all funds are handled according to our plan.
-
The project manager and the finance manager meet on a weekly basis , maybe every Monday Morning to review the project expenditures
-
On the weekly basis during meetings and notices, the Finance Manager will send out the outstanding receipts that have not been retired from project staff. And those with unretired receipts will not get funds. In addition, the Project Manager and the Finance Manager will hold a meeting to look at the tracking tool and analyze expenses for each month for informed decisions.
-
kindly give me hand out for communicating about project finanaces
-
Call for meeting andake a briefing about project Budget
-
the project manager and financial manager should hold meeting at least monthly,whilst the financial manager and the project staff should hold meetings weekly and simple tools like sms and emails to share information.
-
In my organization the programme manager and the financial manager along with the project team hold a monthly review meeting on the expenses been made, what is the pipeline and burn rate, and finding ways to cut cost and make savings
-
Communicating about project finances
-
Communicating about project finances
-
Communicating about project finances
-
The project manager will be meeting the project team weekly to discuss issues based on financial trucking and reporting tool. Likewise, project manger and financial manager will be meeting monthly to discuss project expenditure based on financial trucking and reporting tool to map way forward.
-
We have every months performance meetings where finance and program team discussed the budget progress and variances
-
Periodically there must be a meeting about project finances status. Depending on the stage or type of the meeting there will be a specific way to present the information (may be verbally, using spreadsheet, slideshow presentation, or any tool related and relevant).
-
A monthly meeting
-
Communicating about project finances can be achieved through email or a dashboard where finances can be tracked in real time.
-
A great way of communicating project finances would be having a dashboard that reflects real time data and is accessible to the relevant people in the organization. This will save a lot of time explaining past and future expenses as everyone will be up to date.
-
We will meet as a project team monthly to access how much we have spent on each project activity using available tools to us; look at items that are threatening our obligated amounts, what needs to be done and how best to manage our finances to ensure project delivery and completion
-
It's every important to share project expenditures with all the teams. By making every one know the remaining obligation funds everyone will be conscious in how will it spend!
-
I think we should be able to create an spreadsheet and in one day course for the staff be able to interpret it and help to manage remaining obligation funds!!
-
I expected field manager to make it a point of duty to submit his monthly expenses summary through the project manager to the financial manager through a dedicated email channel
-
Communicating about project finances
-
Every month, as a project manager together with financial manager, we will hold a staff meeting to explain the last month project expenditures. At the same time, the information about remaining obligated funds will be shared with the project staff. In spite of this, I will be giving out weekly updates about project finances via email to all project staffs
Vote1
A
ALUZIOH
Every month, as a project manager together with financial manager, we will hold a staff meeting to explain the last month project expenditures. At the same time, the information about remaining obligated funds will be shared with the project staff. In spite of this, I will be giving out weekly updates about project finances via email to all project staffsVote0
A
AMOSK
Every monday, the Finance Manager will send out the outstanding receipts from Field Staff. No additionnal fund will be allocated if the prior receipts are not received. In addition, the Project Manager and the Finance Manager will hold a meeting to look at the tracking tool and analyse expensesVote0
S
SANGO_FRANCIS
The project manager and the financial manager will have to hold a meeting with the whole team staff and break the purpose of the project to each staff and their expected role and after that the financial manager in the process have to explain to the team staff the type of tracking tool the will be used for tracking expenditures and when each staff is supposed to submitted. some of the tool required example Financial tracking and reporting toolVote0
S
SANGO_FRANCIS
@Sango_Francis said in Communicating about project finances:The project manager and the financial manager will have to hold a meeting with the whole team staff and break the purpose of the project to each staff and their expected role and after that the financial manager in the process have to explain to the team staff the type of tracking tool the will be used for tracking expenditures and when each staff is supposed to submitted. some of the tool required example Financial tracking and reporting tool
Vote0
N
NDAYAMNDE
Every month, the financial manager and the project manager, including the whole team will have a meeting usually on the first monday to discuss about the previous expenditures and reimbursements due, and then subsequently the budget for the next month and the tracking of expenses will be shared on google drive to the rest of the team for updates.Vote0
N
NOMILE
With every month end, the finance manager will finalise records and hold meetings with the project manager and field manager to explain in detail the figures. Where there are cases of overspending money than initially budgeted. Then these can be tracked and the project manager can therefore do something to lower the costsVote0
N
NOMILE
With every month end, the finance manager will finalise records and hold meetings with the project manager and field manager to explain in detail the figures. Where there are cases of overspending money than initially budgeted. Then these can be tracked and the project manager can therefore do something to lower the costsVote0
N
NOMILE
With every month end, the finance manager will finalise records and hold meetings with the project manager and field manager to explain in detail the figures. Where there are cases of overspending money than initially budgeted. Then these can be tracked and the project manager can therefore do something to lower the costsVote0
C
COLLINSKIRUHI
My team would engage a monthly regular meeting to analyse and review project finances with the team so as to ensure our spending is within budget lines.A bi-weekly dashboard will also be engaged with the project manager to evaluate current progress on project finances
Vote0
C
CYWHITE
There is no need to include the entire team in these communications. Monthly meeting with the project manager and field manager are sufficient to review the current financial situation and discuss future trends so that spending can be adjusted or a request to increase the obligation can be sent to the funder, if applicable.Vote0
C
COLLINSKIRUHI
My team would engage a monthly regular meeting to analyse and review project finances with the team so as to ensure our spending is within budget lines.A bi-weekly dashboard will also be engaged with the project manager to evaluate current progress on project finances
Vote0
B
BABLO
Every Monday, we will hold a physical meeting to discuss the activity expenses till date and obligated funds available for spending on each activities. Project team would be asked to submit outstanding claims and supporting documents for reimbursements.Vote0
IMRANREZA
Hello everyoneVote0
IMRANREZA
How much the minimum cost for arranged a meetingVote0
D
DANIELNYAME_12
within every month the financial managers and project managers will deliberate on monthly rportsVote0
M
MUKULASI
As a project manager,will have the responsbiloty of calling meetings with project staff and among others we will go through the financial management plan to ensure all funds are handled according to our plan.Vote0
R
RAKEWAH
The project manager and the finance manager meet on a weekly basis , maybe every Monday Morning to review the project expendituresRAH
Vote0
P
PERRYMWABA
On the weekly basis during meetings and notices, the Finance Manager will send out the outstanding receipts that have not been retired from project staff. And those with unretired receipts will not get funds. In addition, the Project Manager and the Finance Manager will hold a meeting to look at the tracking tool and analyze expenses for each month for informed decisions.Vote0
A
ABDULHAMIDIBRA
kindly give me hand out for communicating about project finanacesVote0
D
DDG
Call for meeting andake a briefing about project BudgetVote0
A
ABASSK
the project manager and financial manager should hold meeting at least monthly,whilst the financial manager and the project staff should hold meetings weekly and simple tools like sms and emails to share information.Vote0
S
SM-MUSTAPHA
In my organization the programme manager and the financial manager along with the project team hold a monthly review meeting on the expenses been made, what is the pipeline and burn rate, and finding ways to cut cost and make savingsVote0
H
HAYDAYOUSSEF55
Communicating about project financesVote0
H
HAYDAYOUSSEF55
Communicating about project financesVote0
H
HAYDAYOUSSEF55
Communicating about project financesVote0
N
NAMACHEKA188
The project manager will be meeting the project team weekly to discuss issues based on financial trucking and reporting tool. Likewise, project manger and financial manager will be meeting monthly to discuss project expenditure based on financial trucking and reporting tool to map way forward.Vote0
S
SAKINAVANJOVA
We have every months performance meetings where finance and program team discussed the budget progress and variancesVote0
A
ANTONIO2011
Periodically there must be a meeting about project finances status. Depending on the stage or type of the meeting there will be a specific way to present the information (may be verbally, using spreadsheet, slideshow presentation, or any tool related and relevant).Vote0
L
LHOWELLJ
A monthly meetingVote0
L
LHOWELLJ
Communicating about project finances can be achieved through email or a dashboard where finances can be tracked in real time.Vote0
L
LHOWELLJ
A great way of communicating project finances would be having a dashboard that reflects real time data and is accessible to the relevant people in the organization. This will save a lot of time explaining past and future expenses as everyone will be up to date.Vote0
C
CLEMSABAK
We will meet as a project team monthly to access how much we have spent on each project activity using available tools to us; look at items that are threatening our obligated amounts, what needs to be done and how best to manage our finances to ensure project delivery and completionVote0
L
LIZZARDOEDY
It's every important to share project expenditures with all the teams. By making every one know the remaining obligation funds everyone will be conscious in how will it spend!Edson Magarros
Vote0
L
LIZZARDOEDY
I think we should be able to create an spreadsheet and in one day course for the staff be able to interpret it and help to manage remaining obligation funds!!Edson Magarros
Vote0
G
GBEMIGAONI
I expected field manager to make it a point of duty to submit his monthly expenses summary through the project manager to the financial manager through a dedicated email channelVote0
B
BOBBYBATATINAS
Communicating about project financesVote0
-
Regular meeting and a tool
-
During the monthly meetings, we have an update on finances made by the financial manager. every week we have the expenditure dashboard
at the end of the monthly meeting, recommendations in the form of a memo are made for the project team on overruns and underconsumption -
project Finance is key important for the project's success , how ever for the project to succeed in the activities implementation, commutation is important tools for the project stakeholder to understand the existing budget the project and project what will come next.
-
The project manager and the financial manager will have to hold a meeting with the whole team staff and break the purpose of the project to each staff and their expected role and after that the financial manager in the process have to explain to the team staff the type of tracking tool the will be used for tracking expenditures and when each staff is supposed to submitted. some of the tool required example Financial tracking and reporting tool
-
Information about how much money is remaining, how much has been spent, and how much has been obligated to date is all accessible in the project database. This is the main tool that the team uses to keep informed and to inform others about project finances. The finance manager regular checks in with the program team as well.
-
Every week each team member will be asked to submit report on their expenses which the financial manager will collate in the Financial Tracking & Reporting Tool.
Monthly, the Financial Manager and the Project manager will meet to look into expenses in previous months and calculate both pipelines and burn rate. They will also review the project work plan to make sure our spending do not exceed the obligated fund. -
Horizontal and vertical communication of project finances helps to have common understanding of project financial performance and expenditure trends. Plus it gives updated expenditure reports to the departments concerned so that it can be read side by side for current and future undertakings.
-
Communication on financial issues timely helps solve issues before it gets too late.
-
Projection of expenditure based on past trend gives light on how to spend in the future (deciding on burn rates).
-
Project manager should arrange the meeting every end of month with financial manager and all project staff in order to make evaluation of expenditures of previous month, using tracking expenditure tools, and then to make prediction for the future by looking the remained obligated amount.
-
As the finance manager needs more supervision on managing all project expenses by ensure regular meeting with your team about the project progress
-
Financial manager needs more understanding about the workplan of the project
-
Evey month the project manager and the finance manager together with the project team holds a meeting to look at the project expenditure and other things necessary for the project
-
It will be best to discuss with the project manager and project staff on the modalities that will help to accomplish our project fully with out running out of our obligated amount for the project. There should be a regular meeting twice a month to put everyone o check.
-
@Aluzioh said in Communicating about project finances:
Every month, as a project manager together with financial manager, we will hold a staff meeting to explain the last month project expenditures. At the same time, the information about remaining obligated funds will be shared with the project staff. In spite of this, I will be giving out weekly updates about project finances via email to all project staffs
Monthly and quarterly financial reports from Finance team to senior management and project managers
-
There is strong requirement to discuss about the cost incurred and how much fund is required for future activities. Therefore on-field manager, project manager and finance manager need to held meeting in order to arrive at conclusion how much more funds needed so there will not be any stoppage in an ongoing project.
-
Communication about project finances is very vital to financial accountability during project implementation. Why do I say so? Because with this measure you will get to know what has been done right or wrong and what steps need to be taken to perfect expenditure.
-
The Financial Manager needs to gather information weekly on financial obligations completed and those pending and report same to the Project Manager. They both will discuss and present findings and way forward with the entire protect team.
-
With these logical steps applied, the Financial Manger who wrote the case study communication was able to communicate facts about travel expenses.
-
Our Project Director and Finance Manager meet weekly to discuss the budget and make changes as needed.
-
Communicating how finances of the project are being used is key in order to know how finances are being managed and to have shared financial goals.
-
I will provide a break down of project expenses per activity in the Financial Reporting Toolkit
-
The way my team would communicate about project finance is to have both the project manager and financial Manager have monthly meetings with the team, have suggestion boxes within the team and have graphical representations showing the financial state of the team par our expectations
-
Every month, as the Project Manager, I will be sharing the previous month financials with the project team. The aim is for every member of the team to be in sync with our burn rates and our pipeline.
-
The way my team would communicate about project finance is to have both the project manager and financial Manager have monthly meetings with the team, have suggestion boxes within the team and have graphical representations showing the financial state of the team par our expectations
-
Project leaders, finance unit and project staff, will have regular meetings at every Monday of the next month to clearly share and discuss trends in the budget. Fund spend and that remaining on very category of the obligated fund should be well shared and understood by all Project team for possible readjustments.
-
1 Reply
Monthly financial reports will be distributed to project managers regarding their current projects. Project managers can then review the information obtained and ask questions about the project finances or discuss concerns with the financial team.
-
project communication is the exchange of information that helps achieve the project objective, its very goal. Communication includes instructions and discussions pertaining to the product and its features, project progress, ideas and thoughts. The better the communication network, the more successful the project. Which basically means that investing in communication is investing in the quality of your product. But beware: even project managers who understand the importance of communication sometimes fail to keep it on track. Make sure you talk to them and communicate your priorities well.
-
this will help the team to track project burn rate and control expenditures were necessary
-
Project communication is the exchange of information that helps achieve the Project objective, and its goal. Communication includes instructions and discussions pertaining to the product and its features, project progress, ideas and thoughts. The better the communication network, the more successful the project and build team work and spirit
-
The project manager will be meeting the field officers weekly to discuss issues on financial matters and check proper completing on reporting tool. The project manger and financial manager will be meeting monthly to discuss project expenditure based on financial tracking forms and reporting tool to map way forward.
-
in my organization there is tool called IFMIS. It generates obligated fund and expenses in each activity at any time and the project managers, budget department, finance manager and excutive director monthly evaluate the expenses.
-
Every month the project manager and the staff team will be holding a meeting concerning the project on how money are being spent and also how much is being left for the achievement of this project.
-
I hope to on a weekly basis with my team at a round table, share and determine what the financials are looking like and what it would be goiing forward with the help of the financial tracking tool. We will make information sharing a great part of theproject team.
-
Every month the project manager and the finance manager will meet to reflect on key important aspects on their spending and decide the way forward. They will also engage the field and other support staff through a monthly review where all departments will present on their performance and the expenses incurred and what they should do moving foward.
-
I clearly communicating this before project kicks off and every weekend i send the report to the project team
-
That is in justification to the fact that an organization that is used to tracking and communicate about project finances will be able to provide a status update without much trouble. Your organization may go as far as attract additional funding by impressing the donor.
-
Every month, as a project manager together with financial manager, we will hold a staff meeting to explain the last month project expenditures. At the same time, the information about remaining obligated funds will be shared with the project staff. In spite of this, I will be giving out weekly updates about project finances via email to all project staffs
-
Both the project manager, finicial manager should work togather to achieved their goals and objectives.
-
Both the project manager, finicial manager should work togather to achieved their goals and objectives.
-
Project management of finiance includes process where the organization were allocated money and spend it in labour, wages, materials, overhead, utilities and other expenditure which may arises from time to time as a result of run day to day activities in the organisation.
-
Every month, the project manager and the rest of the team will discuss activity costs from the previous month using information from the Financial Tracking and Reporting Tool and Monthly Expenditure Tool. The purpose of this meeting is to reflect on spending to date to inform future decision-making and ascertain the future of the project financial stance.
-
Every month, the project manager and the rest of the team will discuss activity costs from the previous month using information from the Financial Tracking and Reporting Tool and Monthly Expenditure Tool. The purpose of this meeting is to reflect on spending to date to inform future decision-making and ascertain the future of the project financial stance.
-
The effective way is to have interactive monitoring and tracking expenditure system. However if that is not available other ways for communicating project expenditure would be through e mails- regular meetings and or through a dashboard.
-
That will be an effective communication plan and an effective project financial management.
-
Conversation between Project Manager and Finance Manager Discussing variance witnessed on Monthly Expenditure Tracker report.
Project Manager, “From a quick look of over Monthly Expenditure Tracker report I can see that the month of April we incurred a substantial increase in our transport expenses. Would care to give a reason onto this?”
Financial Manager, “Well looking from the Financial Tracking and reporting tool, you will see that we had Annual Democracy Event that required us to provide transport for all items that were to be used during the event from there storage location to the event site back and forth”
Project Manager, “Well explained. Thank you”
-
bolded text
-
Before holding the monthly meeting with the team, The project officer or finance officer should post all the expenses incurred in the month in the monthly expenditure tracking/financial tracking and reporting tool. Then, once in a month the meeting needs to be held with the project manager, financial manager and whole project team to track, review and analyze the expenditure in previous months and to plan budget and activities for the next months. Effective communication about project finances with the team will help to get detailed information on budget expenditure and can effectively manage the obligated budget for the whole period.
-
Every first week of the month the project manager and the finance manager and the field manager will discuss on the activity cost of the previous month using financial tracking and repotting tool.
Also explain previous month project expenses and information on the available obligated funds. Further reflect on the previous expenses for future decision making and a bi-week dashboard will be engaged to evaluate current progress in finance expenses. -
Every week we have a regular meeting related on going activities and their progress and providing details what is remain and how to achive that.
-
Very correct
-
Might be
-
This is not possible if there are long distances to travel where the program team actually works
-
Every month the finance manager using the expenditure tracking tool will present the project team the situation of the budget and the expenditure.
-
A monthly meeting between the project team and the finance team to make sure the project finances is healthy or find an immediate solution once there is a problem .
-
Every month the finance manager has a meeting with program manager to share regarding the expenditure also project work activity also the funds availability .they use usually a tracker to record the expenses
-
I totally agree with you. I meeting on a monthly basis is important between the Financial Manager, project manager and team members. Occupation meetings can be held in between depending on the urgency of the matter. Other platforms like email, memos can also be used to remind team members and communicate between the project manager and other team members.
-
I agree.
-
Every month the project manager and the finance manager and the field manager will discuss on the activity cost from previous month using information from the financial tracking and repotting tool. Also explain previous month financial spending . team member will be asked to submit report on their expenses which the financial manager will collate in the Financial Tracking & Reporting Tool.
Monthly, the Financial Manager and the Project manager will meet to look into expenses in previous months and calculate both pipelines and burn rate. They will also review the project work plan to make sure our spending do not exceed the obligated fund.AMD
Vote0
S
SINTAYEHUGETACHEW2020
Jan 20, 2021, 12:08 PM
Horizontal and vertical communication of project finances helps to have common understanding of project financial performance and expenditure trends. Plus it gives updated expenditure reports to the departments concerned so that it can be read side by side for current and future undertakings.Vote0
S
SINTAYEHUGETACHEW2020
Jan 20, 2021, 1:37 PM
Communication on financial issues timely helps solve issues before it gets too late.Vote0
S
SINTAYEHUGETACHEW2020
Jan 20, 2021, 1:38 PM
Projection of expenditure based on past trend gives light on how to spend in the future (deciding on burn rates).Vote0
D
DANIEL_HABARI
Jan 25, 2021, 8:01 AM
Project manager should arrange the meeting every end of month with financial manager and all project staff in order to make evaluation of expenditures of previous month, using tracking expenditure tools, and then to make prediction for the future by looking the remained obligated amount.Vote0
D
DANIEL_HABARI
Jan 25, 2021, 9:31 AM
As the finance manager needs more supervision on managing all project expenses by ensure regular meeting with your team about the project progressVote0
D
DANIEL_HABARI
Jan 25, 2021, 9:39 AM
Financial manager needs more understanding about the workplan of the projectVote0
P
PRECIOUSUNIQMTAMBO
Jan 26, 2021, 7:41 AM
Evey month the project manager and the finance manager together with the project team holds a meeting to look at the project expenditure and other things necessary for the projectVote0
U
UUTOCHUKWU
Jan 27, 2021, 5:22 PM
It will be best to discuss with the project manager and project staff on the modalities that will help to accomplish our project fully with out running out of our obligated amount for the project. There should be a regular meeting twice a month to put everyone o check.Vote0
T
TIBEME
Jan 28, 2021, 12:56 AM
@Aluzioh said in Communicating about project finances:Every month, as a project manager together with financial manager, we will hold a staff meeting to explain the last month project expenditures. At the same time, the information about remaining obligated funds will be shared with the project staff. In spite of this, I will be giving out weekly updates about project finances via email to all project staffs
Monthly and quarterly financial reports from Finance team to senior management and project managers
Vote0
N
NIDHITHUMMAR26
Jan 28, 2021, 5:16 AM
There is strong requirement to discuss about the cost incurred and how much fund is required for future activities. Therefore on-field manager, project manager and finance manager need to held meeting in order to arrive at conclusion how much more funds needed so there will not be any stoppage in an ongoing project.Vote0
S
SYLVESTREES1992
Jan 28, 2021, 3:28 PM
Communication about project finances is very vital to financial accountability during project implementation. Why do I say so? Because with this measure you will get to know what has been done right or wrong and what steps need to be taken to perfect expenditure.Vote0
S
SYLVESTREES1992
Jan 28, 2021, 3:31 PM
The Financial Manager needs to gather information weekly on financial obligations completed and those pending and report same to the Project Manager. They both will discuss and present findings and way forward with the entire protect team.Vote0
S
SYLVESTREES1992
Jan 28, 2021, 3:34 PM
With these logical steps applied, the Financial Manger who wrote the case study communication was able to communicate facts about travel expenses.Vote0
A
AP52
Jan 29, 2021, 10:33 PM
Our Project Director and Finance Manager meet weekly to discuss the budget and make changes as needed.Vote0
C
CHARLESNGANDU
Feb 1, 2021, 11:28 AM
Communicating how finances of the project are being used is key in order to know how finances are being managed and to have shared financial goals.Vote0
L
LECHE
Feb 2, 2021, 9:26 AM
I will provide a break down of project expenses per activity in the Financial Reporting ToolkitVote0
M
MUSAATTAHCHONEBAWA
Feb 8, 2021, 6:59 PM
The way my team would communicate about project finance is to have both the project manager and financial Manager have monthly meetings with the team, have suggestion boxes within the team and have graphical representations showing the financial state of the team par our expectationsVote0
K
KESSYTONUKARI
Feb 9, 2021, 10:08 PM
Every month, as the Project Manager, I will be sharing the previous month financials with the project team. The aim is for every member of the team to be in sync with our burn rates and our pipeline.Vote0
M
MUSAATTAHCHONEBAWA
Feb 11, 2021, 5:22 PM
The way my team would communicate about project finance is to have both the project manager and financial Manager have monthly meetings with the team, have suggestion boxes within the team and have graphical representations showing the financial state of the team par our expectationsVote0
G
GREGORYRAFIKIWAWATOTO
Feb 12, 2021, 6:49 AM
Project leaders, finance unit and project staff, will have regular meetings at every Monday of the next month to clearly share and discuss trends in the budget. Fund spend and that remaining on very category of the obligated fund should be well shared and understood by all Project team for possible readjustments.Vote0
D
DIARA
Feb 12, 2021, 12:59 PM
Monthly financial reports will be distributed to project managers regarding their current projects. Project managers can then review the information obtained and ask questions about the project finances or discuss concerns with the financial team.Vote0
C
CHIKUSAMUEL
Feb 20, 2021, 1:48 PM
project communication is the exchange of information that helps achieve the project objective, its very goal. Communication includes instructions and discussions pertaining to the product and its features, project progress, ideas and thoughts. The better the communication network, the more successful the project. Which basically means that investing in communication is investing in the quality of your product. But beware: even project managers who understand the importance of communication sometimes fail to keep it on track. Make sure you talk to them and communicate your priorities well.Vote0
O
OSCARMKC
Feb 27, 2021, 8:59 AM
this will help the team to track project burn rate and control expenditures were necessaryVote0
O
OSCARMKC
Feb 27, 2021, 9:01 AM
Project communication is the exchange of information that helps achieve the Project objective, and its goal. Communication includes instructions and discussions pertaining to the product and its features, project progress, ideas and thoughts. The better the communication network, the more successful the project and build team work and spiritVote0
C
CLEMENCEK
Feb 28, 2021, 5:10 PM
The project manager will be meeting the field officers weekly to discuss issues on financial matters and check proper completing on reporting tool. The project manger and financial manager will be meeting monthly to discuss project expenditure based on financial tracking forms and reporting tool to map way forward.Vote0
H
HABT
Mar 6, 2021, 3:45 PM
in my organization there is tool called IFMIS. It generates obligated fund and expenses in each activity at any time and the project managers, budget department, finance manager and excutive director monthly evaluate the expenses.Vote0
J
JOSHMILES
Mar 10, 2021, 11:42 AM
Every month the project manager and the staff team will be holding a meeting concerning the project on how money are being spent and also how much is being left for the achievement of this project.Vote0
B
BILLS_AKOWUAH
Mar 12, 2021, 12:11 AM
I hope to on a weekly basis with my team at a round table, share and determine what the financials are looking like and what it would be goiing forward with the help of the financial tracking tool. We will make information sharing a great part of theproject team.Vote0
CHRISPINE
Mar 14, 2021, 8:21 AM
Every month the project manager and the finance manager will meet to reflect on key important aspects on their spending and decide the way forward. They will also engage the field and other support staff through a monthly review where all departments will present on their performance and the expenses incurred and what they should do moving foward.Vote0
E
EPHRAHIMELISANTE
Mar 15, 2021, 3:28 PM
I clearly communicating this before project kicks off and every weekend i send the report to the project teamVote0
E
EVENTUS_ANIEBUK
Mar 28, 2021, 9:07 PM
That is in justification to the fact that an organization that is used to tracking and communicate about project finances will be able to provide a status update without much trouble. Your organization may go as far as attract additional funding by impressing the donor.Vote0
M
MARIAUJAH
Apr 10, 2021, 10:41 PM
Every month, as a project manager together with financial manager, we will hold a staff meeting to explain the last month project expenditures. At the same time, the information about remaining obligated funds will be shared with the project staff. In spite of this, I will be giving out weekly updates about project finances via email to all project staffsVote0
SKYTISHPINDIGA
Apr 21, 2021, 8:15 AM
Both the project manager, finicial manager should work togather to achieved their goals and objectives.Vote0
SKYTISHPINDIGA
Apr 21, 2021, 8:24 AM
Both the project manager, finicial manager should work togather to achieved their goals and objectives.Vote0
SKYTISHPINDIGA
Apr 22, 2021, 8:36 AM
Project management of finiance includes process where the organization were allocated money and spend it in labour, wages, materials, overhead, utilities and other expenditure which may arises from time to time as a result of run day to day activities in the organisation.Vote0
A
ASSERTIVE
Apr 26, 2021, 8:51 PM
Every month, the project manager and the rest of the team will discuss activity costs from the previous month using information from the Financial Tracking and Reporting Tool and Monthly Expenditure Tool. The purpose of this meeting is to reflect on spending to date to inform future decision-making and ascertain the future of the project financial stance.Vote0
A
ASSERTIVE
Apr 26, 2021, 8:53 PM
Every month, the project manager and the rest of the team will discuss activity costs from the previous month using information from the Financial Tracking and Reporting Tool and Monthly Expenditure Tool. The purpose of this meeting is to reflect on spending to date to inform future decision-making and ascertain the future of the project financial stance.Vote0
YASER
COURSE FACILITATOR
Apr 28, 2021, 12:27 AM
The effective way is to have interactive monitoring and tracking expenditure system. However if that is not available other ways for communicating project expenditure would be through e mails- regular meetings and or through a dashboard.Vote0
YASER
COURSE FACILITATOR
Apr 28, 2021, 12:33 AM
That will be an effective communication plan and an effective project financial management.Vote0
O
OYOODAKTARI
Apr 28, 2021, 11:51 AM
Conversation between Project Manager and Finance Manager Discussing variance witnessed on Monthly Expenditure Tracker report.Project Manager, “From a quick look of over Monthly Expenditure Tracker report I can see that the month of April we incurred a substantial increase in our transport expenses. Would care to give a reason onto this?”
Financial Manager, “Well looking from the Financial Tracking and reporting tool, you will see that we had Annual Democracy Event that required us to provide transport for all items that were to be used during the event from there storage location to the event site back and forth”
Project Manager, “Well explained. Thank you”
Vote0
G
GCEBY
May 19, 2021, 3:32 PM
bolded textVote0
M
M_MAYAJU
May 25, 2021, 3:39 AM
Before holding the monthly meeting with the team, The project officer or finance officer should post all the expenses incurred in the month in the monthly expenditure tracking/financial tracking and reporting tool. Then, once in a month the meeting needs to be held with the project manager, financial manager and whole project team to track, review and analyze the expenditure in previous months and to plan budget and activities for the next months. Effective communication about project finances with the team will help to get detailed information on budget expenditure and can effectively manage the obligated budget for the whole period.Vote0
M
MUA
about 2 hours ago
Every first week of the month the project manager and the finance manager and the field manager will discuss on the activity cost of the previous month using financial tracking and repotting tool.
Also explain previous month project expenses and information on the available obligated funds. Further reflect on the previous expenses for future decision making processVote0
45 out of -
Monday is a good day to hold a meeting - begining of the week. But not necessarily every week should you hold a meeting.
1 Reply
-
I agree, thank you.
