FINANCIAL MANAGEMENT FOR DEVELOPMENT PROJECTS (BLENDED)
FINANCIAL MANAGEMENT FOR DEVELOPMENT PROJECTS (BLENDED)
9 October–17 November 2023
The course is available in English
Introduction to the course
Financial management of development projects is more than an administrative and control function. Sound financial management is a critical prerequisite for successful project implementation. Timely and accurate financial information is essential for effective decision-making, as well as for corrective action by project management to improve the prospects of timely completion within the planned project budget and scope of deliverables. Sound project financial management provides the essential information needed by those who manage, implement and monitor projects, including government oversight agencies and financing institutions. It also provides assurance to recipient countries, lenders and the donor community that funds have been used efficiently and for the intended purpose, and acts as a deterrent to fraud and corruption by providing internal controls and the ability to quickly identify unusual occurrences and variances. By acquiring the skills needed to set up the various components of an integrated project financial management system, with appropriate modules/procedures for planning and budgeting, accounting, financial reporting, internal control, audit, procurement and disbursement, you will be able to position yourself as a certified and credible project financial officer.
Who attends this course?
Financial officers and assistants; project finance officers; administrative and financial assistants; senior project assistants; disbursement specialists; project accountants and assistants; financial management specialists; accounts managers.
Why a financial management course?
Good project financial management is essential if development cooperation projects are to achieve their objectives. Well planned, organised and executed project financial management also builds confidence by demonstrating to stakeholders that adequate governance arrangements are in place.
What will I learn?
- Understand the fundamental definitions, concepts, boundaries, implications and standards of project financial management
- Prepare and present the project budget in accordance with the agreed accounting system(s) and identify key stakeholders involved in project financial management.
- Understand the legal, operational and financial implications of the project financing or funding agreement(s) on project implementation and financial reporting.
- Operate the project financial system: managing stakeholders, collecting and using financial data, managing budget changes, fiduciary risks and financial controls.
- Develop a bespoke project financial management system, identify computerized solutions and systems, and develop a project operations manual.
- Apply soft skills and knowledge to understand and manage project-related financial challenges, contingencies and issues
- Adopt a lifelong learning paradigm for project financial management
What will I be able to do?
Participants will be able to competently design and operate project financial management systems and make corresponding payments/disbursements in accordance with sound professional standards and the harmonized requirements of donors and their respective governments.
Participants who successfully complete the training can expect to improve or enhance their knowledge and skills and be able to:
- Explain the principles, definitions and concepts of project financial management:
- Capture financial parameters in core project documents to the design the financial management system
- Customize the project financial system
- Operate the project financial system: budgeting, monitoring, controlling and reporting
- Close the project financially and coordinate auditors
- Identify ethical challenges and applying soft skills in managing project finances
What certification will I get as a successful candidate?
- On successful completion of the programme, you will receive a certificate demonstrating your advanced proficiency in managing project finances in development work.
- This certificate not only provides proof of your knowledge and skills but also showcases your dedication to advancing your career.
- The end-of-programme project, a review of your own and unique financial system, will provide you with a unique addition to your CV.
- With these accomplishments, you will stand out to potential employers as a valuable asset.
Why should I join?
The certification programme is organised in a blended modality. It includes a distance-learning phase followed by a one-week workshop in Turin on the United Nations Campus under the umbrella of the 2023 Development Cooperation Academy (see below). Once participants have completed the workshop, they will then work remotely with the assistance of an expert on a final project and receive their certification. The entire programme consists of approximately 60
Building Tomorrow's World: the 2023 Development Cooperation Academy
The workshop in Turin is part of the Academy on Development Cooperation, this year's theme being:
“Redefining the World of Work in Development Cooperation: Exploring the Convergence of Artificial Intelligence, Climate Change, and Remote Management”
The Academy will bring together over 100 participants and experts. In addition to completing the workshop as part of the certification programme, participants will have the opportunity to participate a global forum during morning sessions on development cooperation.
Participating in the Development Cooperation Academy provides excellent networking opportunities, cutting-edge knowledge and innovation in the field of development cooperation, opportunities for personal development, and the occasion to develop a global perspective in the spirit of multilateralism. This is also an opportunity to broaden one's horizons both professionally and technically by keeping abreast of the latest trends and developments in the field. Participants will work together to define and gain a global perspective on the future of development cooperation work.
