MSG Team's other articles

10193 Logistics – An Integral Component of Supply Chain Management

Supply Chain Management encompasses, planning, design, control and implementation of all business processes related to procurement, manufacturing, distribution and sales order fulfillment functions of a business. All these activities involve multiple networks of vendors and service providers which are integrated and co-coordinated by the Supply Chain Experts of the organization to move raw materials and […]

9027 Drug Counterfeiting in India

The Indian pharmaceutical market is huge, and drugs worth billions of dollars are manufactured and sold every year in India. Some of these drugs are sold locally, and some are exported abroad. India is the fourth largest pharmaceutical market in the world whereas it is also the largest exporter of pharmaceutical drugs worldwide. This rapidly […]

10792 The Promise and Peril of the Digital Economy

Much is being said and written about the emerging digital economy with all its promise of techno-utopia and the perils of technology taking control of our lives. Indeed, while some experts have cautioned against surmising that technology would solve all the problems of humankind and lead us into a future of abundance, the mainstream view […]

11594 Top Five Challenges Facing the Chinese Economy

The Chinese economic prowess is second to none. They have certainly pulled off an economic miracle since Mao Zedong began unleashing his tough policies on the people. The transformation was painful. However, as a result, China has become a global economic behemoth, a power to be feared. It is the second largest economy in the […]

10163 Letter of Credit – Meaning and Different Types of LC

International trade between an Exporter and Importer would entail multiple transactions in terms of documentation exchange, physical cargo movement as well as settlement of payment which have to be clearly defined and setup in order to ensure smooth business transaction. Over the years international trade has established various methods and payment mechanisms that are accepted […]

Search with tags

  • No tags available.

The Finance Certifier is the only member of the Six Sigma Project team apart from the Project Lead that is selected by the Project Champion. This is because, it is the Project Champions responsibility to ensure that the financials of the Project are absolutely unbiased. Of late, finance certifiers have come under a lot of fire. This is because there are criticisms that the supposed cost savings recorded by the project, never actually materialize and in many organizations Six Sigma has become a loss making affair.

From an organizational point of view, Finance Certifier is present to ensure that the resources of the organization which are sanctioned under the belief that they will help meet long term strategic goals are not wasted. The role of Finance Certifier has been elaborated as follows:

Stage at Which Required

The Finance Certifier is involved with the project at the very beginning in the “Define” stage. This is where the budget for the Project is being created. The Finance certifier must collaborate with the Project Lead to create a budget for projects as well as justify them with a cost/benefit analysis. Although the job is to collaborate with the Project Lead, the Finance Certifier must be as critical of the report as possible.

The Finance Certifier is then required towards the end of the Project. Participation is required to validate the expenses done and benefits realised from the Project. Indeed, it is the Finance Certifier that declares the project a success or a failure.

Job Description

  • The Finance Certifier is responsible for creating the budget for the project. This budget is the basis on which the Project Champion and the Project Lead negotiate with the top management for resources.

  • The Finance Certifier is responsible for conducting a cost-benefit analysis of the Project. The report submitted by the certifier attaches a financial value to the project. Only if the organization thinks that there are enough benefits to be reaped as resources allocated.

  • The Finance Certifier monitors the execution of the project to check if the resources are being utilised as per the plan. The Finance Certifier controls the expenditure on behalf of the Project Champion.

  • The Finance Certifier ends the project with the evaluation as to whether the goals that were set for the project have been met or not. This evaluation goes a long way in deciding whether the process will be declared a success or a failure.

Job Specification

  • The Finance Certifier needs to be well versed with the concept of costing and managerial accounting. Only this knowledge will help them to conduct a good cost-benefit analysis.

  • The Finance Certifier must understand processes and Six Sigma. This will help them empathise with the Project lead and decide whether the expenditure is justified.

  • The Finance Manager must be good at Variance Analysis. This will help them find out the real reason why expenditure has overshot (if it has) and avoid the same in the future.

Article Written by

MSG Team

An insightful writer passionate about sharing expertise, trends, and tips, dedicated to inspiring and informing readers through engaging and thoughtful content.

Leave a reply

Your email address will not be published. Required fields are marked *

Related Articles

Six Sigma Project Team Members

MSG Team

Role of Project Champion in Six Sigma Project

MSG Team

Role of a Project Lead in a Six Sigma Project

MSG Team