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Financial Management Add to toolbox

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Planning and organising the finance in your organisation will help you to keep it on track and raise more finance.

There are many activities that fall under the financial management function:

  • Keeping track of money coming in and out ofyour business
  • Budgeting and forecasting
  • Financial project control

Before thinking of investing a sum of money into a project you may want to answer the following:

  • What is the aim of the project?
  • What are the likely effects on your business/results?
  • What are the effects on your business if the project was not undertaken?
  • How long will it take?
  • What other financial resources may be required?
  • What are the effects on your time and business if required to seek other financial resources?
  • How will you properly cost the project what is the time period for pay back?
  • What can I do to reduce risk or where can I gain advice for this?
  • How will I track progress and measure financial impact? 

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