Finance 8hours

Projects, programmes and portfolios are dependent on the input of people, material and money. These input constraints include money, Finance (Practice 7) and (human and other) Resources (Practice 8). Often, acquiring resources requires Procurement (Practice 9). 

The Finance (Practice 7) competence element enable the individual to ensure that enough financial resources are provided to the project/programme/portfolio at any time, that the financial targets of the project/programme/portfolio can be met and that the financial status is monitored, reported and properly used for adequate management of financial resources. 

Instructional Objectives 

  • Determine the project/programme/portfolio funding and financing strategy 
  • Determine and establish the project/programme/portfolio budget 
  • Develop, establish and govern a funding and financial management framework 
  • Distribute project/programme/portfolio funds based on the needs of components and funding conditions 
  • Provide reports to funding and financing bodies 

Lesson 1 : Estimate project costs

  • Select the estimating methods to be used.
  • Set up a cost structure and identify cost categories.
  • Produce a realistic cost summary.


Lesson 2 : Establish the project budget

  • Obtain approval for the budget.
  • Develop different budget scenarios.
  • Ensure the necessary reserves are made available.

1hr. 10min.

Lesson 3 : Secure project funding

  • Produce a cash flow overview.
  • Develop a financing strategy for the project/programme/portfolio.
  • Identify the possible sources to acquire funds from.
  • Act according to the financial decision making processes.
  • Work together with potential sponsors in order to acquire funds.

    2hrs. 27min.

    Chapter 4 : Develop, establish and maintain a financial management and reporting system for the project

    • Link the project/programme/portfolio costs to the organizations cost structure.
    • Determine the management processes for the finances.
    • Decide which financial indicators you are going to use.
    • Develop workable reports.

    2hrs 1min.

    Chapter 5 : Monitor project financials in order to identify and correct deviations from the project plan

    • Produce cost reports.
    • Analyze and explain financial situations.
    • Make use of performance indicators.

    1hr. 35min.

    Prof. Dr. Chinwi Mgbere


    President, Project Managers Development Association of Nigeria – PMDAN.

    Managing Director for Construction “Nazarbayev University”

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