The College of Law at Prince Sultan University is pleased to host a remote seminar in collaboration with O'Neill Institute for National and Global Health Law and the Law Center...
Few steps of project financial management must be conducted.
First step is dealing with cost management. Under cost management, he explained
the cost management plan, the cost estimation, and balances determination. Next
step is a project budget which has the components of emergency reservations for
activities, control accounts,administrative
reservations, and project budget. Then, the following step is project resource
management, which are estimating resource activities, and planning resource
management.
Moreover, risk management is elaborated, and the importance of
developing a risk management plan. The details of the plan is as follows: hazard
identification, conducting a qualitative risk analysis, perform a quantitative
risk analysis, develop a risk response plan and implementation of response to
risks when they occur. Moved on project procurement and contract management, he
talked about Develop a procurement management plans, which are purchases
activity and contract type’s decision. Lastly he elaborated about concerned
management; Determine the stakeholders of the project, develop a stakeholder
engagement plan, Stakeholder Participation Department, and Follow the
participation of stakeholders.