Control Process of a

Financial Resource

Planning the Control

Definition of Financial Resource

Identify assigned budgets, including all

financial allocations.

Determine the financial objectives of the

project to align resources effectively.

Establishment of Key Performance

Indicators (KPIs)

Develop measurable criteria to evaluate

financial performance.

Ensure KPIs are relevant to project goals

and offer clear insights.

Implementation of Control

Measures

Development of Control Mechanisms

Create systems for monitoring financial

transactions and resource utilization.

Implement software tools to streamline

budget tracking and reporting.

Resource Allocation Strategies

Allocate financial resources based on

priority and project needs.

Regularly review allocations to adapt to

changing circumstances and demands.

Monitoring and Evaluation

Continuous Assessment of Performance

Regularly analyze financial data against

established KPIs.

Adjust strategies based on performance

outcomes and feedback.

Reporting and Communication

Prepare detailed financial reports for

stakeholders.

Foster open communication regarding

financial status and control measures.

Adjustments and Improvements

Revising Control Processes

Identify areas for improvement based on

performance evaluations.

Implement new strategies or tools to

enhance financial control.

Feedback Integration

Collect input from team members on the

effectiveness of control measures.

Use feedback to refine financial

management practices and policies.