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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.

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

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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.

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SINTAYEHUGETACHEW2020
Jan 20, 2021, 1:37 PM
Communication on financial issues timely helps solve issues before it gets too late.

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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).

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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.

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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 progress

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DANIEL_HABARI
Jan 25, 2021, 9:39 AM
Financial manager needs more understanding about the workplan of the project

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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 project

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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.

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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

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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.

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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.

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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.

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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.

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AP52
Jan 29, 2021, 10:33 PM
Our Project Director and Finance Manager meet weekly to discuss the budget and make changes as needed.

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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.

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LECHE
Feb 2, 2021, 9:26 AM
I will provide a break down of project expenses per activity in the Financial Reporting Toolkit

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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 expectations

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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.

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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 expectations

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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.

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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.

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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.

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OSCARMKC
Feb 27, 2021, 8:59 AM
this will help the team to track project burn rate and control expenditures were necessary

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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 spirit

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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.

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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.

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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.

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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.

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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.

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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 team

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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.

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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 staffs

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SKYTISHPINDIGA
Apr 21, 2021, 8:15 AM
Both the project manager, finicial manager should work togather to achieved their goals and objectives.

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SKYTISHPINDIGA
Apr 21, 2021, 8:24 AM
Both the project manager, finicial manager should work togather to achieved their goals and objectives.

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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.

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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.

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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.

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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.

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YASER
COURSE FACILITATOR
Apr 28, 2021, 12:33 AM
That will be an effective communication plan and an effective project financial management.

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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”

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GCEBY
May 19, 2021, 3:32 PM
bolded text

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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.

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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 process

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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.

I agree, thank you.

The project finances is all about planning how to get the fund for your project , how to organize the way the fund will be used, how to monitor it and how to set some control strategies in order to avoid financial risks that may occur during the project implementation.

Every month the project and finance manager will hold a meeting discussing and tracking expenditures. they should discuss on the tracking tool for expenditure tracking in the organization.

Since tracking and analysis of project finances is best done monthly, the project manager and the finance manager would either be reporting weekly or monthly about the project activities broken into smaller unit to team members and other related stakeholders

Hi team, I have noticed that we are spending a lot of money on transport. I am suggesting that we start meeting every last Friday of the month so that we agree on how we can go forward on this. Otherwise our burn rate on this may cause us to loose trust from donors. We also have to communicate our resolve with our donors.

This is quite relevant Aima-Mir, thank you for sharing. you have dymystified the essence of communication about project finances

I agree with you

managing project finance allows the project team to complete their work efficient and donors will satisfy. But without knowing how the expenses are going on then most probably that project wont be successful.

In every first monday of the month the Financial manager and the project manager can invite the team to show the financial perfomance during the previous month and advise them to continue or better perform with good financial practices.

Every month, the project Director 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

Every month, the project manager will meet with the team and have the Financial Manager facilitate discussions around the project finances

Every month, as a finance manager together with project team and project manager, financial report of the previous month project expenditures.

Communicating about project finances

Chaque mois, nous tiendrons des réunions régulières avec le chef de projet et les responsables de terrain afin de leurs expliquer l'outil de suivi et rapport financier de chaque catégories des dépenses. Après chaque réunion de concertation, nous fournirons à l'équipe un tableau de bord auquel plusieurs personnes ont accès, ou de tout autre moyen par lequel votre équipe partagera l'information.

Chaque mois, nous tiendrons des réunions régulières avec le chef de projet et les responsables de terrain afin de leurs expliquer l'outil de suivi et rapport financier de chaque catégories des dépenses. Après chaque réunion de concertation, nous fournirons à l'équipe un tableau de bord auquel plusieurs personnes ont accès, ou de tout autre moyen par lequel votre équipe partagera l'information.

Project manager selects the most priority projects with logically budget estimation and send to the steering committee for budget approval. When the project budget approve, they will send the fund for implementing in the ground to the finance manager and they will conduct a meeting to inform about budget available to the program team and let them manage the budget in cooperation with finance manager. They will conduct physical monthly meeting to report the last month project expenditure to make sure if it meets to the master budget approval. Finance manager responsible for preparing monthly budget vs actual and inform to the line manger.

As for me, our team will engage a monthly regular meeting to analyze and review project finances with the team so as to ensure our spending is within budget lines.

And weekly dashboard will also be engaged with the project manager to evaluate current progress on project finances

Monthly, as a project manager, project staff 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

Communicating about project finances is fundamental in analyzing the financial stand of the project, this will help the project team estimate the future expenses and how to handle them. Communication is also important when it comes to decision making in the future.

My project team will communicate about project finances through regular meetings and a tool that several people have access to share information.

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 month the financial manager will hold a meeting with the team to discuss the expenses for the next month and inform the team about the existing budget for that month.

Every month, the financial manager and the project manager, including the whole team will have a meeting usually on the first Sunday 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.

Every month, the financial manager and the project manager, including the whole team will have a meeting usually on the first Sunday 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.

My project team will communicate about project finances through regular meetings and a tool that several people have access to share information.

Every month the National programme manager, Operations manager and project team meet to discuss project spend in relation to forecasted spend to check level over/under spend of project finances. This helps the team determine whether spend is on/off target.

The Finance Manager meets with appropriate team members monthly and as needed. They also prepare a monthly report that outlines expenses versus budget.

In a meeting organized under our unit, the team leader explains the procedure to obtain project resources and the need to file accountability receipts within a month after the activity. In the meeting, the project leader discusses the need to do this on time to allow for proper financial management including monitoring and planning of spending to avoid overspending and underspending and efficiency in financial matters

The Project Manager and Finance Manager should always have meetings monthly in order to know how close the expenses has gone close to the obligated fund. The also have to analyze the expenses per month to know why there is high expenses or less in a particular month just to know why it is like that. They also need to meet regularly to know when to request for funds from donors.

As the Project Manager, Weekly meetings will be held with the project team for updates on expenditures, and monthly meetings with Financial Manager to review the months expenditures. the pipeline will be looked at and the burn rate.

The financial manager can have monthly meetings with the field officers and the project managers to discuss financial issues. The team can also standard tools for financial management and communication.

Every end of the month the finance manager communicates the project budget for the future month and the expenditure of the previous month to the team so that he may be able to plan for future expenses.

Our team communicates on monthly basis or daily incase of unplanned situations

At the end of each month , the financial manager, project manager and the whole team will have a meeting 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 through Management information system to the rest of the team.

Communication is the key responsibility of the project manager. At least that’s what I’ve always contended. And, as the project manager, often your budget and schedule are your best communication tools. They are useful in communicating with both your team members and outside resources – your customer and your executive management – on the status of your project. After all, budget and schedule are two of the three major project success factors (the other being customer satisfaction). Each can be used in a number of ways. Let’s look at those closer…

The project budget as a communication tool
The budget defines the company’s financial commitment and is used to ensure that project expenses are kept in line. If variances do occur, they often anticipate a scheduling problem as well.

The budget also measures the degree of risk involved in your project. Any change in the company is accompanied by risk, and when time and money are spent, the decision to go ahead is based on a judgment of risk. Management will proceed with the project if it is convinced that the risk is acceptable and that future profit potential justifies that risk. So, for example, when you propose a project, you should communicate in terms of risk and likely reward. Approval will be granted as long as you can convince management that there’s a good chance that future profits will recapture this investment within a reasonable period of time.

The project schedule as a communication tool
The schedule defines the project, and, as long as you share it with management, it is a useful tool for ensuring that your definition conforms to theirs. When it’s broken down into phases, with deadlines tied to the final result, management has the opportunity to validate your direction, and you can ensure that your understanding of the project’s goals is correct. At this early stage, you can define exactly what the project should achieve.

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You also need to use the schedule during the later phases of your project in conjunction with review meetings to ensure (1) that you are on the right course and (2) that management’s desired outcome has not changed.

Finally, the schedule improves communication with your team and helps avoid delays. By identifying weak links and by communicating with other department managers and outside resources, you will avoid unexpected problems.

Brad Egeland is a Business Solution Designer and an Information Technology / Project Management consultant and author with over 25 years of software development, management and project management experience. He has successfully led project initiatives in Manufacturing, Government Contracting, Creative Design, Gaming and Hospitality, Retail Operations, Aviation and Airline, Pharmaceutical, Start-ups, Healthcare, Higher Education, Nonprofit, High-Tech, Engineering and general IT.

Communications about project finances should be done regularly with project staff as they will be up-to-date on the stage of project budget versus implemented activities.

Holding regular project staff meetings, where the financial manager updates the team on the project's previous expenditures and gives cashflow projection, is a good platform to communicate financial issues to the rest of the team.

The project finances are communicated within the project team, finance manager, project heads and donors on timely basis.

Nice and good example

Chaque mois, le Directeur financier et toute l'équipe du projet se réunisse pour analyser les données fournis par outil de suivi et de rapport financier du mois. puis, ils effectuent les prévisions de dépense du mois suivant.

Every beginning of the project, the project allocation budget is announced. However, its only the people who are attached to a project who get updates there after

At the end of every month, Project Manager will organize all project staff meeting to discuss the last month expeditures and also discuss the budegt consumption, forecast the next month expenditure with analysis where to balance the cost accordign to budget and after the meeting, send an email with minutes.

I agree with you

One way that our project team communicates about project finances to keep everybody up-to-date on the project financial status is having a shared document library in SharePoint in which a read only version of the tools used by the financial manager are filed by date. Such tools include a monthly financial report per project for internal use only, a cumulative financial report and a periodic financial report following the template required by the donor. That last is also quite important for the project team as the amount in the award currency may be different from what we use internally when the donor requires a specific calculation of the exchange rate to use in case the donor's currrency is different from the local currency.
Aside from these tools, we also have a weekly team meeting during which important updates are shared, such as coming activities for the next few weeks to allow us make any projections on the expenses and project balance status.

Project trucking financial tool is a great mechanism to keep everything on the project up to date even in future by estimating future costs and activities while carefully matching future activities with available budget or expected budget.

Every forth week of the month all project team should meet and discuss with finance team to share some important issues regarding financial status of the project.

Every Morning, the project and the financial manager will have to hold a meeting with the whole team staff and break the activities 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

at the start of each month, the project managers invite the financial manager and the project staff to a meeting. the financial director begins to make a presentation on the execution rhythm of the budget for the past month, presenting the history of the spent cost and possible change in its next months

Actually this can be a monthly basis or by the end of the month the Finance team record all project spending and inform all team if there is any overspending