Manage funding

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.

Performance criteria

You must be able to:

  1. identify suitable sources of project or programme funds
  2. compare different sources of funds and select the optimum combination
  3. negotiate the terms and conditions for the provision of funds
  4. co-ordinate drawdown of funds with expenditure
  5. maintain funding documentation
  6. assure the quality of the funding procedure

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:

  1. the principles and goals of funding
    responsibilities for funding
  2. the context of the work and its impact on funding
  3. a procedure for funding
  4. the benefits and drawbacks of different sources of funding
  5. how to synchronise funding and expenditure
  6. the purpose and content of funding documentation
  7. how assurance applies to funding



Please consider allowing cookies to be able to share this page on social media sites.

Change cookie settings
No history has been recorded.
Back to top