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Course Name: Sound Financial Management in Development Projects Context

Special offer for group registration:
Number of participants Fees
2-5 $ 700
6 -10 $ 650
11-50 $ 500
> 50 $ 450
To register as a group, contact us through: E: or give us a call on T: +254707053111
Course Date Duration Location Fee: Registrations
Date: 13/05/2024 - 17/05/2024 5 Days Nairobi, Kenya $ 950 Click to register
Date: 10/06/2024 - 14/06/2024 5 Days Kigali, Rwanda $ 950 Click to register


5 Days

Our Contacts:

Email: info@

+234 (0) 8038 066705,
+234 (0) 9039055940
+254 707 053 111


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Course Description

Sound financial management is critical to the success of all development projects. This course defines the components of effective financial management within the context of the development project life cycle. It examines the financial tools and techniques available for the efficient implementation of projects and for assessing the effectiveness of project financial management systems. It covers: budgeting; accounting standards; procurement and contract management; performance measurement; financial management staffing; audit and internal controls. This course will explore the processes needed to implement appropriate project risk mitigation strategies and set up monitoring of performance indicators and reporting for effective decision making. Participants will assess their own financial management systems and develop action plans for improvement of these systems. 


Learning outcomes

By the end of this course the participants will be able to:

  • Adopt appropriate financial tools and techniques for managing projects
  • Understand the dynamics and applicable principles in the use of donor systems
  • Assess existing project financial management systems and effect needed improvements
  • Understand how to appraise and choose between various prospective project investment opportunities using discounted cash-flow analysis
  • Formulate project plans and budgets and understand their impact on project profitability and cash-flows
  • Align project procurement and contracting processes with international best practice
  • Use integrated financial management information systems to enhance project efficiency and effectiveness
  • Evaluate project implementation risks and minimize them by establishing appropriate internal controls


Who should enroll?

This training course is recommended for accountants and finance managers in projects. It is also ideal for managers, program/project coordinators and other project staff whose roles involve management of finances for their organization.


Why train with us

Vital Extra Learning guarantees our clients:

  • State-of-the-art facilities and training infrastructure
  • Extended tradition of hand-holding during post engagement
  • Service delivery through highly seasoned industry experts.
  • Value for money 



Module 1: Introduction to Financial Management

  • Fundamental definitions and concepts in financial management
  • Boundaries of financial management
  • Implications and standards of project financial management
  • Importance of financial management in projects
  • Relationship between finance and other business functions
  • Identification of key stakeholders concerned by project financial management.
  • Legal, operational and financial implications of project financing or funding agreement(s) on project implementation operations and on financial reporting.


Module 2: Financial Planning and Budgeting in Projects

Financial Planning in Projects

  • Project financial management cycle
  • Characteristics of good financial systems
  • Supporting policies and standards in project financial management
  • The financial planning process


Financial Budgeting in Projects

  • Functions and types of budgets in projects
  • Practical approaches to building good project budgets
  • Preparation and presentation of project budget in accordance with the agreed accounting system(s)
  • Donor budget regulations/requirements
  • Budget change/modifications


Module 3: Financial Management in Projects

Project financial system management

  • Stakeholder management
  • How to collect and use financial data
  • Managing budget changes
  • Fiduciary risks and financial controls


Cash Flow Management

  • Cash flow forecasting
  • Consolidated budgets and budgeting for core costs
  • Elements of cash flow
  • Cash Vs Profit
  • Managing cash
  • Bank Accounts management
  • Project payments supporting documents


Cost Management

  • Use of cost data in decision making
  • Types of Costs
  • Elements of Cost
  • Cost Structures and Methods – Costing services and products
  • Procurement
  • Project cost allocations
  • Admin cost allocations


Module 4: Financial Reporting and Performance Evaluation in Projects

Financial Reporting in Projects

  • Importance of Financial Reporting
  • Principles and Objectives of Financial Accounting
  • Types of Accounts
  • Financial Statements; Income Statement, Balance Sheet, Cash Flow Statement


Finance Performance in Projects

  • Introduction to financial Analysis
  • Steps in financial analysis
  • Sources of data for financial analysis
  • Financial ratios
  • Budget monitoring
  • Cash flow monitoring


Earned Value Management

  • Introduction to Earned Value Analysis
  • Earned Value Calculations
  • Application of EVM analysis in project performance monitoring
  • Value for Money in Projects


Module 5: Project Financial Management and Internal Controls Systems

Developing a customized project financial management system

  • Computerized solutions and systems for project financial management
  • Project manual development
  • Managing project-related financial challenges, unforeseen situations and problems


Internal Control Systems

  • Organization financial management policies
  • Role of audit
  • Financial fraud
  • Financial spending cross approvals
  • Risk Management in Project Financial Management
  • Due diligence in grants management 


This training can be customized for your institution or delivered at your preferred location upon request. For training customization, contact us through
Email: info@
+234 (0) 8038 066705,
+234 (0) 9039055940
+254 707 053 111


_ Kenya _

Register with us for any short course in Nairobi and get an opportunity to visit and see endangered rhinos (white and black), hippos, crocodiles, ostrich, over 400 species of birds, leopards, lions, cheetah, buffalo and more.

We DEVELOP AND DELIVER SOLUTIONS that satisfy our clients