The purpose of this competency is to achieve the goals of financial management, i.e. to:
- estimate the cost of achieving the objectives;
- assess the viability of achieving the objectives;
- secure funds and manage their release throughout the life cycle;
- set up and run financial systems;
- monitor and control expenditure.
You must be able to:
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This competency summarises several others and should be adjusted according to the set of financial functions relevant to the context.
Managing finance in a P3 environment inevitably links to, and possibly overlaps with, corporate finance systems.
When applying this competency to a P3 role it must reflect what is, and what is not, within the authority of the P3 organisation and what is controlled by the host organisation’s financial systems.
Knowledge and understanding
You need to know and understand: