Aiming to change the financial management of the client business onto more efficient levels PFMreview.com is offering,
· Analysis of Financial Management System
· Critical Budget Reviews
· Preparation of Development Projects
· Monitoring & Evaluation
The services and methods offered are presented only in general in the following sections, since services and methods should by the opinion of PFMreview.com always be adjusted to the actual client business situation. Hence, by the client permission PFMreview.com readily carries out a preliminary review and prepares a project document proposal in more detail for informal talks before any contract is agreed upon.
Analysis of Financial Management System
When problems are recognised in a financial management system these are often caused by a set of interacting factors. In the same way it is important to be aware of the effects on the overall financial management that a change in one particular factor may have.
Hence, when management problems are uncovered and assessments made on problem solving changes a broad perspective on the analysis is recommended until the more critical interactions are uncovered and, consequently analysis to be initiated in more detail.
PFMreview.com by that reason makes use of a model ensuring a perspective including the interactions between the dominant groups of factors in the financial management. Besides, using a model based on System Theory also interactions with factors in the financial management environments are made part of the analysis.
Consequently, PFMreview.com recommends and offers the client a phased analysis in which the first phase includes a broad perspective analysis to uncover critical areas and the second phase to include analysis in more detail on the most critical areas selected by agreement with he client.
Critical Budget Review
Though management is reluctant to initiate new activities the budget is often experienced to increase steadily anyhow. The budget is constantly constrained by cost extending factors like e.g. solving of urgent cases and gliding standards of quality and the dependency on the development of cost on supplier markets and new legislation and labour agreements. And the budget does not in it self include any automatics to counteract such constraints.
If management wishes to withhold actual budget levels therefor regularly critical reviews of the various budget sections are required. Tasks changing character since original decided maybe needs weeding and, concerning the tasks maintained the interacting complex of structures and technologies and personel must be changed in order to carry out tasks more efficient.
Hence, PFMreview.com offers to carry out critical analysis of the separate budget sections based on comparison methods. So far empirical data are available both internal comparisons over time and external comparisons with similar businesses. Besides, proposals for less costly methods of service production are offered also to be compared with the actual production method.
Besides, PFMreview.com offers to design budget models and procedures to support both the realisation of the business objectives and strategies and, the process of reallocation implied by reductions in the overall budget.
Though the design is based on standardised models it is by experience required to adjust the budget models and procedures to the actual case of the client business. Hence, project document proposals are readily made by Forvaltningsrevisionen for informal talks before eventual design agreement.
PFMreview.com offers to carry out critical budget reviews by request on separate budget sections as well as reviews by general agreement covering the entire budget sections and carried out over time based on rotation principles.
Preparation of Development Projects
Unfortunately one is often told about development projects that does not meet the objectives or that is delayed or even facing a total loss of momentum during the process. Of cause unanticipated situations may occur constraining the project. However, without any doubts a profound preparation will increase the probability of a successful project.
Hence, when a business considers to initiate a development project it is very important that a separate budget is allocated to carry out a preparation phase of the project. Consequently, allocation of a final specified budget for the project implementation phase should await the conclusion of the preparation phase and the decision on what project proposal actually to be implemented.
Analysis are moreover offered for required assessment of the financial and socio-economic feasibility of the alternative project proposals
Finally, design and implementation support is offered in regards of project financial management systems.
Monitoring & Evaluation
The undertaking at business management level of regularly control on objectives and budget and cost is required to ensure the aimed efficiency in the business operational activities and projects. By this undertaking more significant deviation are notified immediately and, evaluation in more detail and analysis of possible actions to restore levels of efficiency can be initiated in due time and with a relevant focus.
However, such controlling procedures are conditioned by the existence of business operational and project management systems prepared for reporting of management information and adequate and reliable data registration. The registration of data must be arranged to meet the demands both for regular controlling at management level and for evaluations in more detail if required.
Evaluation of completed projects is convenient both to fulfil the stakeholders demand for documentation of progress and the accumulation of experiences for the benefit of future projects. However, it is important that project is also part of the business regular controlling and prepared for evaluation during the project period. Hence, evaluation should not be restricted only to make the completing phase of the project. Evaluation should also be a procedure focused on change during the project period and, consequently prepared for immediate initiation when required.
PFMreview.com offers to prepare the business management system for regular controlling and evaluation, and to carry out evaluations actually required.