Project Finance

Description

Project Finance maintains project budget, issues cost strategies, prepares financial status reports, initiates budget transfers, surfaces unresolved financial issues to finance management.

Process	Current State	Description
Budget Transfers	Draft	Ability for Finance and the Controls Team to re-allocate Budget within the project.
	Finance or Estimating Review	Estimator/Finance reviews the Budget Transfer information entered by Estimator/Finance and any attachments to determine if in conformance. If in conformance, based on the agreement with the Project Manager the Budget Transfer will be approved or sent to the Project Manager for approval. If the Budget Transfer Type is Contingency to WBS the only option available will be to send to the Project Manager for approval.
Invoicing	Pending Approval	Project Finance reviews invoice for accuracy of invoiced amount broken out by SOV and ensures that all necessary backup is attached.
	Pending Division Approval	Project Finance reviews invoice for accuracy of invoiced amount broken out by SOV and ensures that all necessary backup is attached.
Lean Change Order without Contract Directive	Draft	The Project Finance creates the Lean Change Order without CD and adds attachment(s), as required.
Project Work Authorization Net Zero	Draft	Studio Finance or Project Finance creates a new Net Zero to reallocate the authorized funds between cost codes within one authorization as long as the total value nets to zero dollars.
PWA-R Justification for Change (JFC)	Return to Initiator	PWA JFCs are created and workflowed to the Studio Finance, and Project Finance.
	Funding/W D.7.2.1 Draft DLPBS Assignment	Project Finance/Studio Finance determines the WBS Funding type and confirms type and cause of change.
Project Work Authorization	Draft	The Pandora, Project Controls Team, Finance and designated Responsible Individuals for each Studio will meet throughout the gate process to determine the authorization strategy which includes internal Labor, POs, and staff extensions that are known to mitigate the need for de-authorizations that don't add value.
Travel Authorization	Set to Funding/WBS Assignment	Project Finance determines the WBS Funding type.