MSG Team's other articles

11454 Supply Chains as Sources of Competitive Advantage

Optimizing the Supply Chains A supply chain is the network of relationships between the upstream and downstream activities with all stakeholders who are involved in this chain of relationships. To take an example, if a particular good or service has to be delivered to the customer, there are raw materials that are needed for the […]

12668 Cash Management Module in ERP

Cash management module provides information relating to cash flow of the organization, by processing and analyzing all cash and bank transactions, arising out of payment of supplier’s invoices, receipt from sales invoices, stand alone payment and unallocated payment/receipts. Cash management module also allows analyzing financial transactions for a given period of time and provides information […]

9000 Do Reforms drive International Businesses or International Businesses drive Reforms ?

Reforms driving International Businesses or Vice Versa? It is debatable whether the reforms in emerging and developing markets drive the entry of international businesses into those markets or whether the international businesses with their strategies drive reforms in these markets. Of course, the bottom line requirement for any international business to enter the emerging markets […]

10782 Project Integration and Communication Management

Project integration management refers to the process of tying everything in place. Integration management deals with: Developing the Project Charter and Project Scope statement (Initiating Process Group), Develop Project Management Plan (Planning process group), Direct and Manage project execution (Executing Process group). Hence this is process that integrates all the disparate processes and provides a […]

12058 World Trade Organization: Success or Failure

It has been more than 20 years since the World Trade Organization (WTO) came into existence. However, there is still considerable debate as to whether it has been a success or a failure. The objective of the World Trade Organization (WTO) was to foster efficient economic activity across the globe. This was to be done […]

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