The Financial Project Management Control Cycle ©
The Control Cycle defines how the critical elements of a project relate to each other:
The FPM Control Cycle has at its centre the Project Board. This is made up of the key financial decision makers in an organisation. Surrounding the Project Board are all the elements of a project which are critical to its success:
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FPM ensures that the Project Board is involved in all of these critical areas BUT only to the extent that they need to be. This is achieved by means of the FPM Project Manager Interface. The Project Manager ensures that all of the critical areas operate within pre-defined tolerances. He or she only alerts the Project Board to matters that exceed these limits.
The result is a project that both delivers the outcome defined in the Business Case AND leaves the members of the Project Board free to pursue their strategic roles within the organisation.
The FPM Control Cycle underpins the Financial System Selection process.
