Finance Control

Prior to the start of a project, the availability of adequate resources and financial means must be ensured in addition to the goal setting and planning according to the well-known motto “No Money, no Honey.” At the start of a project, companies must investigate whether they have qualified specialist personnel, the necessary equipment, and the appropriate internal funds or external financial support from banks and investors. To overcome bottlenecks, projects are therefore often carried out in cooperation with partners. In addition to the provision of a cost budget, efficient cost management, at the heart of which is cost determination, is an important prerequisite. Finance control (FC) is a PM support function; see Fig. .