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The purpose of this competency is to achieve the goals of funding, i.e. to:
- determine the best way to fund the work;
- secure commitment from the fund holders;
- manage the release of funds throughout the life cycle.
You must be able to:
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The adaptation of this competency is primarily influenced by whether the funds are provided internally or externally.
Where internal funds are allocated it is usually unnecessary to compare different methods and the administration of the release of funds will be simpler.
Some large projects or programmes may utilise multiple sources of funds and specialised approaches (such as the various public/private arrangements). In these contexts the knowledge criteria should be extended to cover these specialised approaches.
Knowledge and understanding
You need to know and understand: