What does financial project management involve. Management of projects for improvement and development of the enterprise. Project finance management. Investment designed. Enterprise asset management on the example of OOO NPF Reaktiv

In a market economy, the cost factor becomes decisive in the implementation of the project and the evaluation of its results, so the cost is one of the main objects in project management.

The cost management function includes a preliminary estimate of the costs associated with the project, the definition of cost estimates, sources of financing and the project budget, cash flow planning, income and profit forecasting, control over spending and receipts. Money and decision making in cases of cost overruns and other deviations from financial plans.

The main task of cost management is to meet the budgetary framework of the project, and receive the expected profit from its implementation. Cost management should be based on methods for determining the effectiveness of investments in projects in an unstable economy, the formation of which has not yet been completed. Methods

and cost management techniques in market conditions are widely covered in the literature.

Distribution of the project cost during its life cycle uneven and usually has a structure.

Depending on the stage of the project life cycle and the objectives of the assessment, apply different kinds and methods for estimating project costs. Based on the purposes of assessments, the accuracy of such assessments also varies.

Estimating the cost begins with the definition of the resource and work structure of the project.

These tasks are solved within the framework of project planning, and the cost management system (cost estimation module) should receive the results of this process.

The cost of the project is determined by the resources required to perform the work, including: equipment (purchase, rent, leasing); fixtures, devices and production facilities; working labor (staff employees hired under a contract); consumables (stationery, etc.); materials; training, seminars, conferences; subcontracts; transportation, etc.

All costs can be classified as: direct and overhead costs; recurring and one-time; fixed and variable on the basis of dependence on the amount of work; overtime pay.

A project cost estimate is essentially an estimate of all the costs required for the successful and complete implementation of a project. These costs may have different representations, colored by different economics.

meanings. At the same time, the differences between such representations are sometimes very subtle.

There are three types of costs: liabilities; budget costs (estimated cost of work, distributed over time); actual costs (cash outflow).

Based on the structure of the project life cycle, its cost includes

all the following components:

Cost of research and development: conducting pre-investment studies, cost-benefit analysis, system analysis, detailed design and development of prototype products, preliminary evaluation of project products, development of design and other documentation for products;

Production costs: production, assembly and testing of project products, maintenance of production facilities, logistics, staff training, etc.;

Construction costs: production and administrative premises (construction of new or reconstruction of old ones);

Current costs: wages, materials and semi-finished products, transportation, information management, quality control, etc.;

Removal of products from production: costs for the re-equipment of production facilities, disposal of residues.

The process of managing the cash flows of an enterprise is based on certain principles, the main of which are:

The principle of informative reliability. Creating an information base presents certain difficulties, since direct financial statements, based on the unified methodological principles of accounting, is absent.

The principle of ensuring balance. Cash management

Enterprise flows deal with many of their types and varieties, considered in the process of their classification. Their subordination to the common goals and objectives of management requires ensuring a balance of the company's cash flows by types, volumes, time intervals and other essential characteristics. The implementation of this principle is connected with the optimization of the company's cash flows in the process of managing them.

The principle of ensuring efficiency. The cash flows of the enterprise are characterized by a significant unevenness of the receipt and expenditure of funds in the context of individual time intervals, which leads to the formation of significant amounts of temporarily free cash assets of the enterprise. In essence, these temporarily free cash balances are in the nature of non-productive assets (until they are used in the economic process), which lose their value over time, from inflation and for other reasons.

One of the most important and difficult stages of enterprise cash flow management is their optimization.

Cash flow optimization is a selection process the best forms their organization at the enterprise, taking into account the conditions and features of the implementation of its economic activities.

The main goals of optimization are:

Ensuring the balance of cash flows;

Ensuring the synchronism of the formation of cash flows in time;

Ensuring the growth of the company's net cash flow. The main objects of optimization are: positive

cash flow; negative cash flow; balance of monetary assets; Net cash flow.

The basis for optimizing the cash flows of an enterprise is to ensure a balance between the volumes of positive and negative

30. Project Cost and Financing Management

Key Definition

Project Cost and Financing Management(Project Cost and Finance Management)- the project management section, which includes the processes necessary for the formation and control of the implementation of the approved project budget. Consists of resource planning, cost estimation, budgeting and cost control.

body of knowledge

The project cost and financing management process includes:

□ Development of the concept of managing the cost and financing of the project:

Development of a strategy for managing the cost and finances of the project (defining goals and
tasks, criteria for success and failure, limitations of 74 assumptions);

Conducting economic analysis and justification of the project (marketing,
assessment of cost and sources of financing, forecast of implementation);

General economic evaluation project;

Development of an enlarged financing schedule;

Determination of requirements for the cost and financing management system in
project;

Concept approval.

□ Cost and financing planning in the project:

Resource planning and determination of their quantity required for successful
project implementation;

Estimation of the project cost (based on the developed budget documentation,
expert assessments and etc.);

Formation of the project budget,

Development of a financing plan, which should correspond to the formed
project budget:

Development of a cost and financing management plan for the project.

□ Organization and control of project implementation by cost:

Distribution functional duties and liability in accordance with
cost and financing management plan for the project;

Implementation of the cost and financing management system in the project;

Accounting for actual costs in the project;

Formation of reporting on the state of the cost and financing of the project.

□ Analysis of the state and regulation of the cost of creating a project:

Current audit of the state of the project in terms of cost and finance;

Determining the degree of project implementation by cost indicators
(carried out on the basis of an analysis of actual costs and estimated cost
executed works);

CHAPTER 1. KNOWLEDGE AND EXPERIENCE

Analysis of deviations in the cost of work performed from the estimate and budget:

Analysis of various factors influencing positive and negative deviations;

Preparation and analysis of corrective actions;

Forecasting the state of the project work in terms of cost;

Making decisions on regulatory impacts to bring the performance of work
project at a cost in line with the budget.

□ Completion of cost and finance project management:

Economic analysis and evaluation of results;

claims resolution and conflicts;

Preparation of executive budget and financial report;

Final Settlements and closing funding;

Formation of the archive.

Main literature

Voropaev V.I., Galperina Z.M., Razu M.L., Sekletova G.I., Yakutia Yu.V. et al. Program and project management / Edited by Razu M.L. Module 8. In the 17-module program for managers "Management of Organizational Development". - M.: Infra-M, 1999. - S.392.

Voropaev V.I. Project management in Russia. - M.: Alane, 1995. - S.225.

Mazur I.I., Shapiro V.D. et al. Project Management: A Handbook/ Edited by AI. Mazur and V.D. Shapiro. - M.: high school, 2001. - P.875.

Ilyin N.I., Lukmanova I.G. etc. Project management. - St. Petersburg: DvaTri, 1996. - P. 610.

Lobanova E.N., Limitovsky M.A. Financial management. Module 14. In the 17-module program for managers "Management of the development of the organization." -M.: Infra-M, 1999.

Guide to the world of project management / Per. from English. - Yekaterinburg: USTU, 1998. - S. 192.

Archibald R.D., Managing High-Technology Programs and Projects. 2nd ed. -New York, NY: John Wiley & Sons, 1992.

Cleland D.I., King W.R., Project Management Handbook. 2nd ed. - New York, NY: Van Nostrand Reinhold, 1988.

ICB - IPMA Competence Baseline. Version 2.0. IPMA Editorial Committee: Caupin G., Knopfel H., Morris P., Motzel E., Pannenbacker O.. - Bremen: Eigenverlag, 1999. - p.l 12.

Ireland L.R., Quality Management for Projects & Programs. - Drexel Hill, PA: PMI, 1991.

Kerzner H., Project Management: A Systems Approach to Planning, Scheduling, and Controlling. 6th ed. - New York, NY: John Wiley & Sons Inc., 1997.-p. 1200.

Project management - Fachmann. - Eschbom: GPM und RRW, 1991. - VI, V2, pp.1130.

Turner J.R., The Handbook of Project - Based Management: Improving the Processes for Achieving Strategic Objectives. - Maidehead: McGraw - Hill, 1993. - p.540.

Turner J.R., Grude K.V., Thurloway L.- The Project Manager as Change Agent. - Maidehead: Me Graw-Hill, 1996.

additional literature

Holt R.N. Basics financial management. - M.: Delo Ltd., 1995.

Holt RN, Barnes SB. Investment planning. - M.: Delo Ltd., 1994.

The allocation of undertakings into projects implies the application of methods to them. project management — integrated management processes within the project. Project management methods differ from operational management techniques primarily in that regular management operates with repetitive processes, while project management operates with a unique set of tasks that need to be solved in a limited period of time. For example, for a pizzeria, introducing shrimp pizza to the menu is unlikely to be a project, because cooking pizza is a current activity for it and does not require a fundamental change. technological process. At the same time, for a company producing frozen pizza in large volumes, the introduction of products with shrimp into the product range will lead to a change in the procurement structure and the technological process as a whole, so it would be advisable to consider this innovation from the standpoint of project management.

Personal experience
Svein Aage Olsen, chief financial director of OJSC Pharmacy Chain 36.6 (Moscow). In progress strategic development We have identified two types of companies project activities— programs and projects. Programs include areas that are sets of recurring standard projects, for example, a program for opening pharmacies, within which there are standard projects discoveries outlets. One-time initiatives are allocated to separate projects, such as the introduction of new product categories(for example, optics), changing the design standard for pharmacies, introducing IT systems, etc.
Project management includes such specific methods such as project budget and schedule management, work decomposition, etc. If project management methods are used regularly within a particular company, we can talk about project management and the creation of a project management system (PMS), that is, a set of rules and procedures that ensure the emergence , development, implementation and control of projects within the company in accordance with the methods of project management.

The effectiveness of the project management system

The effectiveness of an EMS in a particular company is determined by the combination of costs and benefits that such a system will bring. Three main parameters that allow you to optimize the use of project management are time, cost and quality of work. Therefore, in a company that does not use project management methods when introducing innovations, there are most likely three types of losses:
- from delaying the implementation of innovations;
- from exceeding budgets due to poor planning or from the erroneous implementation of unnecessary actions;
- from poor-quality performance of works and the need for their alteration.

In monetary terms, it is quite easy to estimate the reduction in project implementation time using statistics on projects already implemented.

Example 1
The company has a typical task of opening a new store. Previously, it took four months to solve it, and after the start of using the project approach and with strict adherence to deadlines, it took three. In this case, the company will receive additional profit from the earlier launch of the store. With a profitability of 10% and a planned sales volume in the first month of 500 thousand rubles. additional profit from reducing the launch time of the store by one month will be 50 thousand rubles.

The situation is similar with project budgets and the quality of work execution. Two mistakes are possible here: underestimating future costs and direct losses associated with erroneous actions. The average cost of such errors is usually 10-20% of the project budget.

The main qualitative advantages of using EMS within a company include:

• a higher degree of control over dedicated projects. Each project has a manager responsible for it, a work schedule and a budget. The course of the project, the funds spent on it and the benefits received are allocated from the main activities of the company and general reporting, therefore, at any stage of the project, the achieved result is clearly visible;
• ranking projects in terms of importance, goals, expected result, etc. makes it possible to assign strategically important projects priorities in resources, personnel, financing;
• optimization of the project schedule allows the most efficient distribution of company resources not only within the project, but also between them. At the same time, it is possible to take into account the availability of resources, project priorities, schedules for the supply of raw materials and materials, funding restrictions;
• experience gained during the implementation of individual projects can be used to prevent errors in future projects, reduce the time required for planning, choose the best way to implement the project;
• clear planning of work, necessary for project management, allows you to regulate their quality.

Implementation efficiency

There have been no large-scale evaluations of the effectiveness of the use of EMS in Russian companies, since there are few companies that effectively use project management as part of regular management. Studies of a similar level are being conducted in the United States and European countries. One survey, prepared by the US Project Management Institute (PMI), includes data from more than 100 North American companies and project management professionals. The diagram shows the results of a survey on the level of efficiency in the use of CMS based on the PMBoK project management methodology of the PMI Institute.

Personal experience
Svein Aage Olsen
Since our implementation of the EMS was gradual, we did not evaluate the alternatives. Nevertheless, the qualitative results of the introduction of project management are obvious: for example, expansion into the regions without formalizing this activity and applying project management methods to it, that is, without a clear separation of powers, structured project implementation schedules, documented business process standards and IT support, was would be extremely difficult.

At this approach There are a number of shortcomings and difficulties. In particular, like any management best practice, project management requires additional knowledge and staff skills, leads to the complexity of communications. As a result, the costs of training and remuneration of employees are increasing.

The place of project activity in the work of the company

The extent to which EMS is used within a particular organization depends on many factors. For example, if a small company decides to open new shop and the management wants to track the effectiveness of this undertaking, there is no need to talk about the need to create a project management system. It is quite possible to confine ourselves to the use of its individual elements, for example, the creation working group responsible for solving a particular problem. But when it comes to opening ten stores in different cities(project activity for a given company becomes permanent, and its scale increases), a more complex structure for managing this process is needed, that is, individual elements of project management should form a system. In addition, the size of the company, the availability of qualified specialists capable of building and maintaining this system, willingness of management to change the established management style, etc.

Rice. 1. Options for the presence of project activities in the company's activities

On fig. 1 in the first case, project management is the basic principle of management in the company. This situation is typical, for example, for software, consulting, construction companies. The third option refers to companies with established businesses that are developing extensively. For them, the introduction of project management will even be harmful, since with the complexity of management, it will not bring the benefits that are expected in this case. The second option is the most common, but also the most complex: projects are carried out along with the main activities of the company. In the future, we will consider just such a variant of the organization of work.

Stages of EMS implementation

The development director is usually responsible for the implementation of the EMS as the person who oversees all investment projects and their management. It is he who assesses the scale future system, additional needs for specialists, the cost of their maintenance and the effect of implementation.

Stage 1. Change of organizational structure

On the initial stage A new subdivision is formed in the company — a project office. It often starts with one specialist who combines current activities with project management functions (this allows you to optimize payroll costs), and then it can gradually develop into a whole department, depending on the company's need for project management.

The functions of the project office include:

• maintaining electronic models of projects;
• project archiving;
• project implementation control;
• consolidation of information on projects;
• preparation teaching materials, standards, instructions;
• maintaining databases of characteristics standard works and their fragments by projects and resource requirements;
• training and advanced training of employees of other departments.

At the initial stage of the formation of the system, part of the work to maintain project activities can be distributed among existing specialists. For example, the preparation of methodological documents and project budget control can be entrusted to the planning and economic department, resource management - to the personnel department, etc.

To manage project activities, an investment committee is formed from among the top management and, possibly, shareholders of the company, which usually includes directors for sales, production, security, personnel, IT, less often - CEO. The Investment Committee decides on the acceptance, launch and completion of projects and meets on a periodic basis or as issues arise for discussion. The activities of the committee and the status of its decisions are regulated by the relevant regulation.

Operational management of projects is carried out by the curator and project manager. The authority to change the timeline, budget, scope, and boundaries of a project resides at the top level of management and is vested in the project sponsor, who is often assigned an appropriate top manager. For example, in a store opening project, the sales director will be the curator. Usually the candidacy of the project curator is approved by the investment committee. The curator, in turn, appoints the project manager and approves the composition of the team proposed by him.

The project manager can be a dedicated manager or project initiator who combines this activity with the main work. The manager prepares project documentation, is responsible for operational management the course of the project, ensures the implementation of the planned work, prepares proposals for changes in the plans, coordinates technical and human resources.

Personal experience
Svein Aage Olsen
Our company does not have a project office as a separate structure, however, the project management process is formalized. For projects within the framework of the programs, the degree of formalization is high; business processes are prescribed for them that determine the tasks that must be solved, responsibility for them and for the decision-making process itself, deadlines for the implementation of projects, typical business plans, cost rates, required productivity, etc. For individual projects, we try to apply existing standards as widely as possible, but we are more careful in assessing the resources needed to implement the project and how it will be carried out.

When setting up the EMS, it is necessary to resolve the issue of dividing the time of employees between the main and project activities. This is especially important in the case when the amount of work allocated to projects begins to take up a significant part of the staff's time. There are several options for such a division:

• “purchase” by the project manager of the resources he needs from the functional manager (in the form of a share of the time devoted to the project);
• full subordination of personnel to the project manager for the period of its implementation or for the time of need for this personnel;
• setting the task that arises in the project, not to a specific performer, but to the head of the functional unit.

The first option is difficult in terms of implementation, since it requires the development of employee remuneration schemes, but it is also the closest to the very idea of ​​project management. The second option may be ineffective due to underutilization of employees. Therefore, the third option is most often used, when general structure management in the project becomes less mobile, however, the double subordination of employees, which usually causes the most problems, is completely absent. The advantages of this method also include the freedom of the functional manager to use the resources of the unit to solve the task.

Stage 2. Development of regulatory documentation

In the project management standards of a particular company, it is necessary to describe as specifically as possible: who, when and what should be done for the functioning of the EMS. This document should include the following items:

• company policy in the field of project management;
• classification of projects and criteria for singling out individual initiatives into a project;
• description of the business process of the project in the organization (how the project is started, approved and implemented, and who is responsible for this).

The level of detail of the standard depends on the complexity and number of company projects, as well as on the number of employees involved in the process. The company's policy in the field of project activities describes the place of project management in the overall management of the company. It includes the rules for separating the main activity from the project activity and the rules for their interaction, the distribution of responsibility for the project activity, its managers and executors. So undertakings with a budget exceeding a certain amount can be allocated to a separate project. Another criterion could be the scope of the project. If an undertaking does not require large investments and covers the activities of two divisions of the company, it is not singled out as a separate project, but if it affects three or more divisions, then it is singled out. An example would be a company restructuring project, automation, introduction of a new motivation system, etc.

Rice. 2. A simplified example of a description of the business process of passing a project

Although projects are unique undertakings, the classification allows you to use the available experience and statistics for similar projects. Depending on the goals, there are projects for:

• assortment development;
• development of distribution channels;
• production development;
• development of support units;
• improving the quality of management;
• business diversification.

The classification can also be hierarchical (first by scope of application, then by content):

a) marketing:

• assortment development;
• development of the sales network;
• development of promotion methods;
• development of logistics;

b) production:

• modernization of existing production facilities;
• creation of new production sites;
• improvement of the production process;

c) providing:

• automation of management processes;
• reorganization of business processes;
• improving the efficiency of the support departments.

For each of the selected types of projects, typical work sequences, resource requirements, time, cost of work, possible problems etc. In addition, the principle of appointing a curator and a project manager can be described. As projects are implemented in the company, the standard may change.

The next step is to describe the business process of passing the project in the company. An example of a schematic representation of a business process is shown in fig. 2.

The general structure of the business process can be detailed and complicated, up to the description of individual actions of specific employees.

The decision to create a PMS means that the company has several simultaneously implemented projects, that is, a portfolio of projects. Most often, projects in the company are carried out in parallel with current activities. The rules for coordinating current and project activities are also prescribed in the standard.

Project portfolio management is usually built on a competitive basis. You can create competition between projects within a portfolio by assigning them a status and priority. For example, status can take the following values:

• in developing;
• to launch;
• running;
• suspended;
• completed;
• rejected;
• deferred.

The change of the project status occurs after its consideration by the investment committee on the basis of the boundary conditions adopted by the company. For example, a project with a payback period of at least three years, an IRR value of at least 25%, etc. is accepted for execution. them, then the status is “deferred”, if the project was rejected, then it is transferred to the archive with the status “rejected”, and if the project is sent for revision, the status does not change.

In addition to the status, projects are assigned a priority. For example, the default priority is three. For projects that are of great importance in terms of the strategic goals of the company or more high yield, the priority is raised to two or one, for others it can be lowered to four or five. In addition, the priority of projects may change during their implementation. This contributes more effective work project managers, encourages them to compete.

Stage 3. Automation

Although the choice software product A huge number of articles have been devoted to the automation of the EMS; in practice, one should be guided by the real needs of the company. So for big construction organization which needs a full accounting of materials, shift work, etc., needs a system professional level(Primavera Enterprise, Spider Project). Suitable for a smaller company Microsoft Project and Open Plan Pro. They have rich possibilities group work: creation of a single pool of resources, access to projects through a web interface, integration with mail and accounting programs. In Russia, there are also systems that implement the functions of budgeting and management accounting on projects and automating document flow (TU "Project Management" based on "1C: Enterprise 8.0"). However, they are not a full replacement for automated PMS, as they are not designed to optimize project schedules and manage project resources.

The minimum requirements that an automated project management system must satisfy (including MS Excel adapted for this purpose) are as follows:

• the possibility of decomposition of works, planning their duration and links between them;
• the ability to plan resources required to perform work;
• optimization of the resulting work schedule with and without resource constraints;
• assessment of the risks of changing the work schedule;
• tracking the implementation of the prepared work plan;
• preparation of reports based on plans and facts of work.

When implementing an automated system that supports project management, it is required to integrate it with the company's existing budgeting and management accounting systems. Of course, this leads to additional costs, but in the absence of such integration, the efficiency of the system decreases, as the efficiency of entering actual data on the progress of projects into it decreases.

Changes in financial management

For financial director When setting up the PMS, the most important issue will be the description of how the cost and cash flows of the project will be managed. The introduction of these procedures implies a change in the existing rules for budgeting and making payments. Most often, the totality of the company's projects is allocated to a separate CFU "Investment activity" or "Project center". The CFU budgets are consolidated into the budget of the entire company, as if it were a separate division. Within the FSC, a complete set of budgets is also maintained for each project.

For example, a company starts a project to modernize the production hall. Planned to purchase optional equipment, introduce an additional shift and implement a quality control system. The project is carried out without stopping the work of the shop. When calculating the economic benefit from the project, the additional volume of products that this workshop can produce is taken into account.

However, it is problematic to allocate only an additional volume of production to a separate project. Therefore, from the beginning of the project, the entire shop is transferred from the main activity to the investment one, and the cost of the shop is assessed as if it were a separate enterprise. According to the FSC, to which the shop used to belong, income is accrued in the amount of the cost of the shop, according to the FSF "Investment activity" - an expense in the amount of the same amount. After the implementation of the project, the reverse operation is performed. At the same time, the amount of added value created by the workshop may remain in the Investment Activity CFU, or it may go into the original CFU.

Another example is a project to increase the production capacity of a company in which the manufactured products are sold through their own distribution network. The full effect of the project will be in the profit that the company will receive from the sale of additional volume of products at retail prices. New volumes of products will be sold in the already existing sales network. The task becomes even more difficult if the products are sold through recently open stores, which are also considered investment projects at the payback stage. A common mistake in such a situation is the calculation of the payback of a production project for a group of companies as a whole. This does not allow us to share the effect of opening new outlets and modernized production.

To take into account the actual effect of the project, you can use the transfer pricing mechanism. In this case, the price at which production is sold own stores, is set at the level of the existing wholesale price for similar products. The added value of production is attributed to the investment activities of the company and pays off the project for increasing production capacity, while the added value of the distribution network is allocated to the corresponding stores and projects.

During the implementation of projects, part of the work will be delayed, new, previously unplanned work will appear, in addition, the initial estimate of the cost of work may be adjusted. This will result in new system the results of the usual analysis of planned and actual data will turn out to be unrepresentative, it will be necessary to conduct a factor analysis of deviations in cost and scope of work. Therefore, in addition to the budget execution report, it is necessary to provide additional form(progress report) or combine the two forms.

Example 2
Let's assume that ten jobs were scheduled for a month with a budget of $12,000. At the end of the month, it turned out that the utilized budget amounted to $5,000. However, after performing factor analysis, it turned out that four jobs with a budget of $8,000 were postponed until the next month and a new job costing $300 appeared. It can be seen that, according to the originally planned work, the budget was 4 thousand US dollars (12 thousand minus 8 thousand), and taking into account new work the amount will be 4.3 thousand US dollars. Thus, the excess of the budget due to the rise in prices amounted to 700 US dollars. The total budget variance of $7k is decomposed into a cost variance plus $0.7k and a scope variance minus $7.7k (8k minus $0.3k) . Another difficulty is that the project work schedule is subject to constant adjustments, and this leads to a shift in the timing of payments and payments attributed in the budget to a single month. Therefore, if it is still possible to achieve acceptable planning accuracy within the framework of the monthly budget, then the annual budget will become obsolete in two to three months. In this situation, it is worth considering the introduction of a rolling budget in companies, reviewed at regular intervals.

The procedure for resolving unscheduled payments is also changing. In project management, it is not uncommon for unexpected work to occur or the cost of work to increase. When deciding on such a payment, you should keep in mind how this change will affect the overall budget of the project. It is possible that the project has seen savings in the past and the resulting work is within the approved budget, but this may not be the case. A solution to this problem is the introduction of a budget excess limit (for example, 5%), within which excesses are allowed after their approval by the project curator. And only if this limit is exceeded, the procedure for revising the project budget at the investment committee is initiated.

The lack of integration of an automated project management system and management and accounting systems can lead to a significant decrease in the efficiency of using the EMS. However, due to the specifics of project management, this task is not at all trivial. So, when implementing project management, it is necessary to track the relevance of the existing cost codifier - it may well turn out that for some articles it will be necessary to introduce additional detail.

The project budget is formed by importing data on upcoming payments into the budgeting system used by the company. When creating a work schedule for a project, it is necessary to immediately assign cost item codes to the work entered into the project management system in order to establish their clear correspondence with budget items. This task usually falls to the employee. financial department or project manager. You can also use a library of ready-made fragments of work with assigned codes, performers and configured relationships. The procedure for loading actual payment data into an automated EMS is somewhat more complicated. Problems are possible when payments arise that are not provided for in the original work schedule (that is, not contained in the budget loaded at the beginning of the period into the budgeting system). In this case, information about newly arisen jobs has to be entered manually.

Consultant's opinion
Grigory Tzipes, Chief Project Management Consultant at IBS.
Change calendar plan work takes place within the framework of change management in accordance with the general methodology of project management. If a schedule change results in a budget adjustment, it must be agreed with financial service and, if necessary, with the investment committee. The ability to change the schedule and the corresponding authority of employees should be reflected in the project management rules in the company. Information about payments is entered on-line in the report on the execution of the project budget, and, if necessary, the company as a whole. Changes are not made to the planned indicators, otherwise the analysis of the actual budget execution does not make sense.

Staff resistance

The greatest difficulty in implementing project management, as in any other change in management system, is the resistance of the staff.

The initiator of the introduction of such a system can be employees of three levels of management: top management companies, project managers or project implementers, that is, ordinary employees. In the first case, the implementation is directive and does not experience a shortage of funding. However, the created system may not take into account the needs of the performers and be ineffective. In the second case, the system will be quite functional, but it can be extremely difficult for the performers and require the input of a large amount of data. In the third case, the system will be easy to use, but most likely will not satisfy the needs of the first two levels. The way out of the situation is an attempt to take into account the needs of the three levels, and all of them should take part in the development of the methodology of the system. For example, initial planning is done by professionals using scheduling, further actions and detailing of work are carried out by the performers, and the management receives information from the entire portfolio of projects.

Another reason for resistance is to increase the transparency of work, labor productivity, division of responsibility, and reduce the company's dependence on specific specialists. If this happens while maintaining the previous level wages, it will certainly cause discontent, therefore it is absolutely necessary to create a system of motivation for personnel involved in projects. As a result, there may even be competition between employees for the opportunity to participate in projects.

When implementing project management, competition for resources (monetary, human, etc.) begins between different projects. This problem can only be solved by clearly prioritizing payments both for projects and for current activities. If this is not done, the allocation of resources will be decided only at the level of managers and depend on the degree of their influence on the financial or general director.

The introduction of project management in a company is itself a project. Therefore, like any other project, it must have clear goals, responsible persons, a work plan and a result. Only in this case, we can say that the methods of project management in the company will be in demand.

Consultant's opinion
Grigory Tzipes
We see three main ways to overcome the resistance of the staff in the implementation of the project management system - agitation, coercion and motivation.
Agitation is an explanation to future project managers and staff who will be involved in its implementation, what project management is for, and what these people will gain if they use it. As experience shows, the greatest resistance is the formalization of actions, that is, the need to fill out a large number of documents, and the fear of monitoring activities. Of course, in a situation where the project is being implemented successfully, such formalization may seem like a waste of time. But if the project does not go as planned (which happens not so rarely), it is the observance of formalities that allows you to save yourself from trouble and unfair accusations ("I warned about this, here's a note"). And at the same time, the transparency of the project for all interested parties is sharply increasing, the possibilities of “fishing in troubled waters” are decreasing.
Stimulation(coercion) implies the creation of such rules and procedures that will not allow the implementation of certain actions in the project without complying with certain formal requirements (for example, payment is not made without a corresponding application and visa of the financial director).
Motivation should be built on the basis of an objective account of the contribution of each employee to the success of the project. We usually offer bonuses to employees who are not only involved in the project, but also those who serve it (financiers, lawyers) in order to avoid unnecessary delays in making decisions. At the stage of pilot implementation of project management, they receive additional remuneration not even for the success of the project, but simply for agreeing to play by the new rules and implement the project. In the future, the results of the project (including financial ones) become the basis for bonuses, since at this stage it is important not only to make people work in accordance with the EMS, but also to orient them towards success. And we must not forget about the non-material side of motivation. Project managers are formerly ordinary employees who, after the introduction of project management, have acquired a new professional status and have dramatically increased their market value.

Efficiency of use refers to the evaluation of the SMS by company managers.

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Enterprise Finance

Topic: Financial management of an enterprise on the example of Sfera LLC

Introduction

Chapter 1. Finances and Financial Mechanism

1.1 Functions and concept of finance

1.2 Financial mechanism of enterprise management

1.3 Principles and sources of finance formation

Chapter 2

2.1 Enterprise financial management system

2.2 Methods for improving the financial management system of Sfera LLC

Conclusion

Bibliography

Introduction

The market economy, with all the variety of its models known to world practice, is characterized by the fact that it is a socially oriented economy, supplemented by state regulation. Finances play a huge role both in the very structure of market relations and in the mechanism of their regulation by the state. They are an integral part of market relations and at the same time an important tool for implementing state policy. Therefore, the relevance of the topic: The organization of financial management of a company in the field of small business is more important than ever. it is necessary to know the nature of finance well, to deeply understand the conditions of their functioning, to see ways to use them to the fullest in the interests of the effective development of production. In the structure of the financial interrelations of the national economy, the finances of enterprises occupy the initial, determining position, since they serve the main link in social production, where material and intangible benefits are created and the predominant mass of the country's financial resources is formed.

The market economy involves the formation and development of enterprises of various organizational and legal forms based on different types private property, the emergence of new owners - both individual citizens and labor collectives enterprises. The main type of economic activity is entrepreneurship - this is economic activity, i.e. activities related to the production and sale of products, the performance of work, the provision of services or the sale of goods needed by the consumer. It has a regular character and is distinguished, firstly, by freedom in choosing directions and methods of activity, independence in decision-making (of course, within the framework of laws and moral standards), and secondly, by responsibility for the decisions made and their consequences. Thirdly, this type of activity does not exclude risk, losses and bankruptcies. Finally, entrepreneurship is clearly focused on making a profit, which, in the conditions of developed competition, is also the satisfaction of social needs. This is the most important prerequisite and reason for interest in the results of financial and economic activity. The implementation of this principle in practice depends not only on the independence granted to enterprises and the need to finance their expenses without state support, but also on the share of profits that remains at the disposal of the enterprise after paying taxes. In addition, it is necessary to create an economic environment in which it is profitable to produce goods, make a profit, and reduce costs. Under the financing of the enterprise is understood the attraction of the capital necessary for the acquisition of fixed and working capital of the enterprise, in other words, covering the need for capital. aim term paper is to analyze the efficiency of the enterprise on the example of LLC "Sphere", to see how economically competently manage its activities. The objectives of the course work are to identify existing potential problems, production and financial risks, determine the impact of decisions made on the final results of the enterprise.

Chapter 1. Finances and Financial Mechanism

Functions and concept of finance

The finances of an enterprise are a system of monetary relations arising as a result of its production and economic activities.

The finances of enterprises from a material point of view represent the monetary accumulations of enterprises or financial resources. Financial science does not study resources as such, but relationships arising from the formation and use of these resources.

The initial formation of financial resources occurs at the time of the establishment of the enterprise, when the statutory fund is formed. Its sources, depending on the organizational and legal forms of management, are: share capital, share contributions of members of cooperatives, sectoral financial resources (with the preservation of sectoral structures), long-term credit, budgetary funds. The value of the authorized capital shows the amount of those funds - fixed and circulating - that are invested in the production process.

The main source of financial resources at operating enterprises is the cost of products sold (services rendered), various parts of which, in the process of revenue distribution, take the form of cash income and savings. Financial resources are formed mainly from profit (from the main and other activities) and depreciation.

Spheres of manifestation of financial relations:

Relations between enterprises for the supply of raw materials, materials, components, sales of products and services.

Relations between enterprises and banks that arise when obtaining and repaying a loan, when buying and selling foreign currency, and when paying for banking services.

Relations with insurance companies and property, commercial and financial risks insurance organizations.

Relations with commodity, commodity, stock exchanges on operations with production assets.

Relations with investment funds and companies for investment placement, privatization.

Relations with affiliates and subsidiaries.

Relations with staff on the payment of salaries, dividends, with shareholders, if they are not members of the labor collective.

Relations with the tax service when paying taxes, with audit firms, with extra-budgetary organizations.

The common element of the listed monetary relations is that they:

1. Expressed in monetary terms

2. Represent a set of payments and receipts

Finance Functions:

reproductive

Distribution

Control

The reproductive function consists in servicing the circulation of fixed and circulating capital with monetary resources in the course of the commercial activity of an enterprise on the basis of the formation and use of cash income and savings.

Distribution function - the essence of this function is to ensure the optimal proportions of the distribution of profits (income) between enterprises and the state, between various funds of enterprises.

The control function is financial control over the production and economic activities of the enterprise in terms of consumption and expenditure of production resources, as well as control over the relationship of the enterprise with banks, the state and other enterprises.

The enterprise acts as a legal entity, which is determined by a combination of features: the isolation of property, liability for obligations with this property, the presence of a bank account, and acting on its own behalf. The isolation of property is expressed by the presence of an independent balance sheet, which lists the property of the enterprise.

The financial relations of an enterprise arise when, on a monetary basis, the formation of the enterprise's own funds, its income, the attraction of borrowed sources of financing of economic activity, the distribution of income generated as a result of this activity, and their use for the development of the enterprise.

The organization of economic activity requires appropriate financial support, i.е. initial capital, which is formed from the contributions of the founders of the enterprise and takes the form authorized capital. This is the most important source of formation of the property of any enterprise. Specific methods of formation of the authorized capital depend on the organizational - legal form of the enterprise.

When creating an enterprise, the authorized capital is directed to the acquisition of fixed assets and the formation working capital in the amounts necessary for conducting normal production and economic activities, it is invested in the acquisition of licenses, patents, know-how, the use of which is an important income-generating factor. Thus, the initial capital is invested in production, in the process of which value is created, expressed by the price of products sold. After the product is sold, it takes monetary form- the form of proceeds from the sale of manufactured goods, which is credited to the settlement account of the enterprise.

Revenue is not yet income, but a source of reimbursement for the funds spent on the production of products and the formation of cash funds and financial reserves of the enterprise. As a result of the use of proceeds, qualitatively different components of the created value are distinguished from it.

First of all, this is due to the formation of an amortization fund, which is formed in the form of depreciation deductions after the depreciation of fixed production assets and intangible assets takes the form of money. A prerequisite for the formation of an amortization fund is the sale of manufactured goods to the consumer and the receipt of proceeds.

Since the material basis of the product being created is made up of raw materials, materials, purchased components and semi-finished products, their cost, along with other material costs, depreciation of fixed production assets, salary workers are the costs of the enterprise for the production of products, taking the form of cost. Until the proceeds are received, these costs are financed from the working capital of the enterprise, which are not spent, but are advanced into production. After the receipt of proceeds from the sale of goods, working capital is restored, and the costs incurred by the enterprise for the production of products are reimbursed.

The separation of costs in the form of cost makes it possible to compare the proceeds received from the sale of products and the costs incurred. The meaning of investing in the production of products is to obtain net income, and if the proceeds exceed the cost, then the company receives it in the form of profit.

Profit and depreciation are the result of the circulation of funds invested in production, and relate to the company's own financial resources, which they manage independently. The optimal use of depreciation and profit for the intended purpose allows you to resume production on an expanded basis.

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