New Business Education - Ново образование за бизнис

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Financial management of projects

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Msc Ivana Nikiforovska, the director of New Business Foundation (NBE), on the 29th and 30th of November 2011, held a training as part of the project “Capacity building sequence for the partners on regional and operational level”, supported by GIZ – Regional and local economic development in Macedonia (RED).

The training module was titled “Financial management of projects” and it included the following areas:  financial management and introduction to budgeting, financial management of projects, procurement, financial reporting, studies of expenditure effectiveness, financial analysis of projects, group work, Q&A, discussion and evaluation of the training.

The majority of the attendants (25 – 30 participants) were representatives from the Regional Development Centers and Local Economic Development Departments (LED) from the Eastern, Southeastern, Southwestern and the Polog region, as well as one representative from each of the other Regional Development Centers on the territory of the Republic of Macedonia.

Stressing financial management as an integral part of project management, this training had the purpose of enhancing the financial capabilities of the attendants, and stressing the importance of stringent financing.