Financial Sourcing

Posted on April 27, 2010 by

0


Actually getting the funding needed for a particular project is termed “financial sourcing.” This could be accomplished in many ways—explaining the need for the project to the organization’s executives, finding investors who are interested in sharing the profits, or even finding buried pirate treasure! Whatever the means, getting the funding is what this term is about. Although project managers may play multiple roles, especially in smaller organizations, they typically are not responsible for financial sourcing. Rather, they are responsible for keeping the project on budget with those funds that have already been acquired by someone else.