eWorkshop: Budget Monitoring Essentials

eWorkshop: Budget Monitoring Essentials

This online course introduces the key skills you need to prepare and analyse project budget monitoring and forecast reports, including donor financial reports. This online course introduces the key skills you need to prepare and analyse project budget monitoring and forecast reports, including donor financial reports.

You will discover:

  • How to create budget monitoring and forecast reports for internal use and donor reporting
  • What to look for on a budget monitoring report to track and manage project performance
  • How to analyse and manage budget variances
  • How to use a budget monitoring report to detect fraud or abuse.

​By the end of the course, you will:

  • Prepare a project budget monitoring report using a phased budget and data on actual income and expenditure.
  • Calculate budget variance percentages to help assess project progress compared to plan. 
  • Prepare a budget Variance Analysis Table to identify significant variances and any areas of concern.
  • Classify the root cause of budget variances using a 3-criteria model
  • Complete a Budget Management Action Plan to ensure the project and budget stay on track.
  • Create a project budget forecast report based on latest activity plans and information
  • Describe the four building blocks of financial management and how budget monitoring contributes to good practice in financial and grant management.
  • Describe the Plan-Do-Review process in project financial management.
  • Describe the purpose and key components of a budget monitoring report.
  • Describe the role of accounting codes in budget monitoring reports.
  • Describe the purpose and key components of a budget forecast report.
  • Feel confident to use budget monitoring reports in project and grant management