Financial consultants are a vital part of a public project

People ask about finance DTA and what it really means. Why is a financial consultant needed on a public project and what value do they bring? A public project is actually that; it is public. This means that everything about the project regarding the finances needs to be transparent and accountable. At any given moment the financial department of a public project needs to be able to show figures. They should be able to show what funding they have, where money has come from, what money has been spent and what it has been spent on, and what future financials look like. These things are important in a private project too but when private money is used, the issue of transparency becomes a different thing. This does not mean there should not be transparency, and finance DTA has a big role to play here too.

Financial roles

A project with a finance data analyst in place means that the project has more chance of coming to fruition and being completed fruitfully. A finance data analyst wears many hats. They will analyze the project when it is being set up, to see exactly what finances and financial positions need to be put in place. Then, they can consult during the project, with the financial team, providing workplace training if it is needed and providing assistance and/or guidance when it is needed. They can also bring a project to closure, with total openness and transparency.

Basically when you have a financial DTA consultant you have a really good chance of the financials being well handed from the very start and right through the project till the very end. A finance DTA consultant has the experience. Public projects will generally employ a finance DTA consultant for the duration of the project but will get an assessment first.

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