Key Actions by:

Standard 13: Effective financial management during project implementation.

Achieve financial consistency, accountability and stewardship through adequate, continuous financial planning, monitoring, controls and reporting.

Key Action 1 Prepare annual and quarterly financial projections based on the updated detailed implementation plan.

Budget manager; Procurement/supply chain staff, human resources staff, finance manager, head of operations, head of programming, country representative


Prepare annual budget projections:

  • During development of the Annual Program Plan (APP).
  • Over the course of the year, for carryover funds from the prior year (October), and for awards/modifications and other spending authorizations or re-allocation of resources (e.g. for discretionary funds) that are received and were not anticipated in budgets.  

Finalize quarterly forecast projections per the annual agency planning calendar, typically:

  • By the 15th of each quarter for cash forecasts (15 October, January, April, July)
  • February, May, and July/August for expense forecasts
Key Action 2 Analyze monthly budget/forecast comparison and aging reports to review spending against the detailed implementation plan, and make decisions accordingly.

Budget manager; finance manager; other members of the project programming team; head of programming; head of operations; country representative

  • Monthly, with budget comparison and aging reports circulated within 5 days of month-end financial close.
  • Quarterly reviews coincident with re-forecasts are also opportunities for financial analysis and decision making.
Key Action 4 Prepare financial reports that reflect all project expenditures in the financial system, for project manager review and submission to donors as required.

Finance manager or headquarters (HQ) Overseas Finance staff; project manager/chief of party; head of programming; IDEA staff if applicable; HQ Overseas Finance grants analyst; senior management team

  • As requested by the PM/CoP based on donor deadlines (see Standard 8, key action 5 for information on establishing a calendar of project financial management tasks and deadlines)
  • See Standard 16 for information on project final financial reports