PROC03 Financial and effort review

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Title Financial and effort review
Link https://wiki.egi.eu/wiki/PROC03_Financial_and_effort_review
Owner
Project office
Status Approved
Approval date
Related document
N/A


Overview

A financial and effort review procedure has been introduced to identify over and under spending partners and take appropriate action. This procedure is run every 3 months and involves Work package leaders in validating partners effort reported to the project office.

Definitions

Please refer to the EGI Glossary for the definitions of the terms used in this procedure.

The key words "MUST", "MUST NOT", "REQUIRED", "SHALL", "SHALL NOT", "SHOULD", "SHOULD NOT", "RECOMMENDED", “MAY", and "OPTIONAL" in this document are to be interpreted as described in RFC 2119.

Steps

The following table describes

Here, M means month at the end of effort reporting period.

Timeline
Responsible Action
M + 10 days Project Partners Deadline for Partners to report on effort (Actual efforts and costs in preparation for the cost statement. Efforts based on actual consumption and costs of personnel (only) based on estimated PM average costs.)
M + 15 days Quality Manager and PO
Draft sent to AMB
M + 20 days Quality Manager and AMB

Coordinate AMB to take an action to remind partners and check deviations

o    Partners not reporting

o    Partners over/under spending

M + 25 days PO Final report provided to PMB


Schedule

Project year 1

  • M1-M3
    • estimate effort due at M3+10 days;
  • M1-M6
    • efforts and costs used due at M6+10 days
  • M1-M9
    • estimate effort due at M9+10 days;
  • M1-M12 Financial reporting: 
    • Actual effort due at M9+10 days; efforts and costs used due at M12+1
    • submission date to EC 30/04/2016


Project year 2

  • M13-M15
    • estimate effort due at M15+10 days
  • M13-M18
    • efforts and costs used due at M18+10 days
  • M13-M21
    • estimate effort due at M21+10 days;
  • M13-M24
    • efforts and costs used due at M24+10 days
    • no submission on the portal requested
  • M13-M30 Financial reporting: 
    • actual costs and efforts for the last 18 months due at M30+1
    • submission date to EC 30/11/2017

Revision History

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