Technical talk on “Financial management of live projects”

In Association with Co-Curricular Committee, ISTE and Consulting Civil Engineers (I), Mangalore Centre organized the “Engineers Week” programme on 28^th March 2018. Prof. Raghavendra K. Holla, Asst. Director – Development , MIT Manipal, addressed the gathering regarding “Financial management of live projects”. An important aspect of projects/business ventures is the accurate accounting of all income and expenses. The speaker stressed finding financial support will usually not be possible without a proven record of proper financial management experience. A business or project without sound financial management is bound to experience problems that could be damaging to the operation.

The speaker stressed more on the projects he handled in his career and explained the technique used in handling of budgets. In a project or a business a treasurer usually deals with all financial issues. However, in a larger business venture, a financial officer may be appointed to assist the treasurer, and/or an accountant may be employed to develop and implement the accounting system and assist with recording income and expenditure. The treasurer is accountable to the chairperson or Board of the organization responsible for a project.

The speaker also stressed set of rule and policies for financial management he said this financial policy should be put in place during the development of a project or business venture and should be compiled in a participatory manner so as to ensure buy-in and understanding of the document.

Students and faculty members enhanced their knowledge by listening to valuable talk by the resource person.