(Beginner) Can demonstrate a theoretical understanding of budgets and financial reporting.
(Novice) Is learning the practice of how to effectively track and provide feedback on project finances, with support and guidance from colleagues.
(Intermediate) Can create budgets, monitor spend, manage invoicing & payments, and produce updates on the financial status of projects.
Checks status of client payments in the accounting system.
Sets up invoices in the accounting system.
Reports on project spend, including projected delivery dates and/or burndown.
Monitors spend throughout the project.
Creates and maintains a budget report from project initiation.
(Expert) Is adept at continuously monitoring, reporting on, and improving the financial impact of projects and teams with senior stakeholders.
Suggests, co-ordinates and executes on financial improvements to processes.
(Master) Optimises the financial success of the organisation's business model, leading performance improvements that measurably enhance efficiency, productivity and profitability.
Communicates both the company’s expected and actual financial performance.
Translates the operational metrics into measures for financial performance, using tools such as the balanced scorecard.
Establishes, maintains and updates accounting policies and procedures.
Oversees the budget process, including collecting the inputs, and comparing the company’s actual performance against estimates in the budget.