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Analysis of integration of projects’ budget into corporate budget

ФИО студента: Evgenij Belyaczkij

Руководитель: Igor Tsarkov

Кампус/факультет: Faculty of Management

Программа: Master

Год защиты: 2014

<p>For organizations having project activities are very important both evaluation of the project as is (if it responds to planned time, cost, quality) and its influence on the financial performance of the whole company.</p><p>Even executed on time and within budget project generates positive financial result of its own, but may have negative affect the financial performance of the company as a whole.</p><p>Management of a number of companies involved in both current and project management activities wonders &ndash; how to obtain information about changes in financial condition of its company during its activity effective (correctly and quickly, without great time consuming).</p><p><strong>Target of the work </strong>is to development a tool for analyzing and managing financial performance, which will combine the planned and actual performance of the project and current activities of the company. This tool should be able to show the current value of all the company&#39;s overall budgets, their prognosis in real time, and provide an opportunity to track the real dynamics of the implementation of single projects.</p><p><strong>Tasks.</strong></p><p>1. Make a review of the literature on budgeting the current activities;</p><p>2. Make a review of the literature on budgeting projects;</p><p>3. Describe problems that appear with usage the traditional budget methods to project activities;</p><p>4. Identify how Russian companies make analysis and plan their financial performance in practice;</p><p>5. Identify business needs of corporate management how do they prefer to use a tool of analysis and financial performance management;</p><p>6. Develop organizational and financial model that will be able to meet business needs;</p><p>7. Identify possible stages of implementation of the model.</p><p><strong>Object of the study</strong> is the Russian companies of various sizes from different spheres, combining current and project activities.</p><p><strong>Subject of the study </strong>is the process of budgeting, and analysis of the dynamics of financial indicators.</p><p><strong>Scientific novelty.</strong></p><p>The review of the literature on budgeting was found that a clear mechanism for the integration of the project budget to the budget of the company does not exist. The considered portfolio budgeting can be used as a transitional phase from the project budgeting to the company budgeting.</p><p>Problems faced by companies with projects and using traditional methods of financial analysis were detected.</p><p>Study of the business needs found out business requirements to the tool of complex analysis of financial activity.</p><p>Organizational-financial model was developed as this tool. It uses different innovations, implemented to comply with all the requirements.</p><p>They are:</p><p>Continuity budgeting. Results of financial activities prediction are dynamic budgets and continuous values ​​of financial ratios. Using model management can observe the dynamics of financial ratios not by traditional periods (every year), but every day.</p><p>Instant results. In a case of full integration with corporate accounting system model provides results automatically, and as quickly as possible &ndash; immediately after the transaction in the system.</p><p>Value-Based Sales indicator. Developed in this study indicator, through which organizational-financial model enables to correctly evaluate the progress of the work in the project and between projects.</p>

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