Standard 8: Timely and comprehensive project financial set-up.
Set up a project financial management system based on updated activity plans that supports a quick start-up and effective financial management throughout the project.
- Start-up [1]
- Financial management [2]
Key Action 1 [3] | Review the draft donor agreement to make sure that CRS can meet the donor's financial requirements. [3] |
Who |
Head of operations, or finance manager if there is no HoOps, for country program-administered projects; IDEA staff for centrally-signed agreements; finance manager and other relevant country program/HQ subject-matter experts, depending on the nature and value of the award and as required by the Agreement Process Map; the deputy regional director for management quality (DRD MQ), or the IDEA staff’s supervisor; agreement owner; and regional finance officer, if requested by the DRD MQ. |
When |
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Key Action 2 [4] | Work with partners to assess their financial management capacity and develop improvement plans. [4] |
Who |
Head of operations; project manager or chief of party; finance manager or other assigned finance or compliance staff; head of programming or other assigned programming staff; country representative. |
When |
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Key Action 3 [6] | Refine the project budget based on changes in the operating context and detailed implementation planning, including all program and operations activities. [6] |
Who |
Project manager/chief of party (PM/CoP); finance manager and/or finance officer or accountant; head of operations; supply chain management staff including procurement, as needed; human resources; and CRS partners |
When |
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Key Action 4 [7] | Enter the budget into the financial system in a way that facilitates analysis and reporting. [7] |
Who |
Budget manager (typically the project manager/chief of party); finance manager, head of programming, head of operations, regional staff (e.g., deputy regional director for management quality or regional finance officer) |
When |
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Key Action 5 [8] | Review and document project-specific financial management requirements, roles and responsibilities. [8] |
Who |
Project manager/chief of party; head of operations; head of programming; finance manager and other finance staff assigned to the project (e.g. accountant, finance officer); other project staff with specific financial management responsibilities (e.g. deputy chief of party) |
When |
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Key Action 6 [10] | Work with partners to set up project-specific financial management and reporting processes, formats, and schedules, and orient partner staff on them. [10] |
Who |
Project manager or chief of party (PM/CoP); finance manager and/or other assigned finance staff; partner staff; regional finance officer (RFO) and/or deputy regional director for management quality if needed; IDEA staff as applicable. |
When |
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