Budget Management: Develop and manage project budgets, ensuring proper allocation of resources and tracking of expenses. Monitor project expenditures against budget and identify cost overruns or savings.
Cost Tracking & Reporting: Track project costs and provide regular reports on financial status, including forecasting future financial needs. Provide recommendations to mitigate risks and ensure projects stay on budget.
Project Financial Analysis: Analyze and assess the financial performance of projects, including profitability, variances, and overall cost-effectiveness. Provide actionable insights to project teams and management.
Billing & Invoicing: Ensure timely and accurate invoicing for projects, including reviewing contract terms and aligning billing cycles with project milestones.
Financial Forecasting: Prepare and update project forecasts to reflect the latest financial data, changes in scope, or project delays. Collaborate with project managers to adjust financial expectations as needed.
Compliance & Internal Controls: Ensure compliance with internal financial policies and external regulatory requirements. Maintain financial records for each project in accordance with company standards.
Cash Flow Management: Monitor project cash flow and ensure sufficient funds are available to meet project commitments. Address any cash flow issues promptly.
Financial Reporting: Prepare and present financial reports on individual projects, including P&L statements, balance sheets, and project-specific financial summaries.
Stakeholder Communication: Act as a liaison between the project management team, finance team, and senior leadership to communicate financial performance and address any concerns.
Audit Support: Assist with internal and external audits by providing accurate and complete financial documentation related to projects.
Process Improvement: Identify and recommend improvements in financial processes and tools used for project accounting to streamline operations and improve efficiency.
