Published on March 11, 2014
How to manage finance in project @nenemulan OCP national project virtual summit AIESEC Indonesia #StartFromYou
Financial Sustainability of Project
What is the goal of your project? How does successful project look like? Why are you doing this project? What contribution does it make for society?
Finance is the way of thinking!
Budgeting - the most important element of project management, and not just a tool of financial management. The content of budgeting is a technology planning, accounting, control and analysis of financial, information and material flows, and the results. Budgeting (planning and realization)
Cash flow management Cash flow is the movement of cash into or out of a business, project, or financial product.
§1 Intern §1 month iGCDP activity §1 iGCDP project (4 events) §Minimum concept per project (pessimistic concept) §Minimum budget per project (pessimistic budget) Minimum cost for:
Minimum Cost on Your Budget
Legality providing and control Control each stage of project to guarantee it’s quality. Make sure that all the processes have responsible person and are controlled strictly. Remember, that project is a brand not only for your local committee or city, but also for country, intern and co-operations.
How to save project • EPs raising in project; • Host-families; • Join clubs and communities; • Check TNs and ANs in advance; • Apply for grants and funds.
Make it happen!
Risk Management sustainability and stability Planning Know that there are really inevitable risks, impossible to prepare for anything Important to establish protocols and people responsible in case a crisis occurs
Need to be aware!!! RULES Members know what, when, how and who to report to in case of certain scenarios Training their attention and analysis of determining events Empowering them to feel comfortable enough to approach the committee Reporting mechanisms
STAKEHOLDERS TNs Trainees Members General Public Satisfaction with the Trainee Accounts Management Safety & Well-being Satisfaction with the TN Integration with the LC Activities Well-being Growth and Development Job Satisfcation Reputation ICX Stakeholders : NEEDTO Check !!!
ICX PITFALLS MEMBERS PROCESS EXTERNAL FACTORS Lack there of attandend Lack of resources Restrictions to perform Lack of skills and knowledge Unwillingness to serve Ineffective delivery Nothing in place No experience or knowledge Weather Health and Safety Changes in Government Processes Define the weaknesses
ICX SOLUTIONS MEMBERS PROCESS EXTERNAL FACTORS Proper orientation and expectation setting Provide sufficient support Open communication lines Create protocols for ICX delivery and survival kits for trainees Proper expectation setting Create ICX Crisis ManagementTeam Keep yourself updated Keep key contact information of needed people/entities Need to be Improve
Define Risk Management
READ AIESEC Indonesia Risk Management and Control Procedure http://www.myaiesec.net/content/viewfile.do?contentid=102 69980
When to use financial risk management . Finance theory (i.e., financial economics) prescribes that a firm should take on a project when it increases ...
As applied to corporate finance, risk management is the ... a project manager who is ... the observed risks. Therefore, risk management covers ...
In order to manage risks we have to understand what a risk is. ... There are two stages in the process of Project Risk Management, Risk Assessment and Risk ...
Finance your project; Home > Search > Manage risk; Guide Manage risk. ... Financial risk should take into account external factors such as interest rates ...
... and guidance on how best to implement and manage ... Project finance transactions may feature ... certain project related risks ...
Typical project risks and actions to manage them. Every project presents a level of financial risk. Management will be concerned about whether the funds ...
... below are the 10 key steps to successful project financial management (1) ... your project and finance manager. ... potential risks ...
The principles of project risk management can be stated very simply. ... In order to manage risks we have to understand what a risk is.
The MSc Project Management, Finance and Risk offers training in modern techniques for managing and engineering the uncertainties and risk inherent in ...