The first and most important step for a project’s financial management is to get familiar with your budget. Once it’s set the project manager can start planning project activities keeping project budget in mind. You must know your core costs but be prepared to change budget estimates as the project progresses. You also needed to monitor resources. Why? You want your team members working on the right tasks to their full potential. Salaries are a big component of the budget, so review resource usage weekly to make sure that everyone is working the highest priorities. Last but not least, be sure to learn from other projects.
