project financial management

Project financial management involves planning, monitoring, and controlling the financial aspects of a project to ensure it stays within budget and resources are used effectively. This includes estimating costs, setting a budget, tracking expenses, and analyzing financial performance throughout the project's lifecycle. Key principles include understanding cash flow, managing risks related to finances, and making informed decisions to achieve project goals. Effective project financial management helps ensure that a project not only completes on time but also delivers value without overspending or waste.