PROJECT FINANCIAL CONTROL & REPORTING

The seminar conducted at Reem Emirates Aluminum primarily focuses on Project Manager’s and their understanding of their commercial obligations. The session highlighted the process of how they should be providing the correct financial reporting on their projects, following a tested guideline. The program reflected on a Project Manager’s role of taking ownership of the projects for its P&L and working closely with the QS who will act as support function for them. The talk encouraged that the Project Manager needs to drive the project and ensure the controls are closely monitored, along with being more proactive to ensure that the projects are reflecting the correct status to the management at all times. Various points the seminar covered include, Costing & Financial Life Cycle Of A Project, Cost & Budget, Cost Control & Financial Control, Tools For Cost Control, Budget Transfer Process, Vo Addition/ Omission, Budget Addition, Generating Build Smart Reports, Project Cost Reporting And Responsibilities And Accountabilities.