It is never too late to do the Project financial planning

The project financial planning would eventually reflect the
proper budget set for the project and the control that was
exercised by the project manager to maintain the expenses
of the project.

You need to consider these two steps before this step:

The Initial Project planning process
Project Team building

Money as usual plays the most important role in life. You
might consider asking for a financial controller for your
project if that is required where lots of cash in and out are
involved. For simple projects, a simple Microsoft Excel might
be enough though.

Keep documentation for every invoice and expenses used in
the project. This is important for any post morterm of a
project or audit by your sponsors or management.

Some projects’ financial are examined before the
management or sponsor assigns the project to a project
manager for execution. This is the most common sense to do.

In other cases, the project manager is required to assess
the financial of the project. To do this task, certain financial
criteria’s such as the Net Present Value (NPV), Internal Rate
of Return (IRR) must be investigated. Here is a business
case in Microsoft Excel format which you can download for
Free.

Planning your project financial is a very important to
measure the success of the project implementation plan.

Return to the Project management skills page from the
project financial planning page