Supporting Frameworks for Successful Program Management – Budgeting, Fund Management and Allocation, Expenditure Approval and Tracking of Funds Committed and Expended (#7 in the series Foundations, Frameworks and Lessons Learned in Program Management)
By Robert Prieto
Program management requires objective oriented budgeting including identification of risk-based associated contingencies and allowances for acceleration or other defined changes contemplated by the defined strategic business objectives. Funding requirements for discrete budget periods must be well defined and where required excess cash management and investment programs must be put in place.
Forecasting of future funding requirements is an ongoing process and the impact of any changes in funding availability must be carefully assessed as part of the overall change impact assessment framework.
Robust fund approval processes and tracking of funds deployed and progress obtained closely monitored. Audit programs assure fiduciary responsibility in the application of the owner’s funds.
Robert Prieto, Senior Vice President
Robert Prieto is senior vice president for Fluor, where he leads strategy for Fluor’s Industrial and Infrastructure group. Mr. Prieto focuses on the development and delivery of large, complex projects worldwide.
Prior to joining Fluor, Bob served as chairman of Parsons Brinckerhoff Inc. As head of PB’s board of directors, he was responsible for overseeing management performance, establishing top-level policies, and ensuring the firm’s continued long term success.
He is a member of the executive committee of the National Center for Asia-Pacific Economic Cooperation, a member of the board of directors of the Business Council on International Understanding, a member of the board of the Civil Engineering Forum for Innovation, and co-founder and member of the board of the Disaster Resource Network. He currently serves on the National Research Council’s committee framing the challenges on Critical Infrastructure Systems. Until 2006 he served as one of three U.S. presidential appointees to the Asia Pacific Economic Cooperation (APEC) Business Advisory Council (ABAC) and served as chairman of the Engineering and Construction Governors of The World Economic Forum and co-chair of the infrastructure task force formed after September 11th by the New York City Chamber of Commerce. He is also a member of the board of trustees of Polytechnic University of New York, and was previously selected as alumni of the year by its New York Chapter.
He has had an executive sponsorship role in the World Trade Center Transportation Hub; West Coast Rail Modernization; Train Protection and Warning System; Level 3 Communications Long Haul Network and Superconducting Super Collider.
Prieto holds a master of science in nuclear engineering from Polytechnic University of New York and a bachelor of science in nuclear engineering from New York University.
Fluor Corporation (NYSE: FLR) provides services on a global basis in the fields of engineering, procurement, construction, operations, maintenance and project management. Headquartered in Irving, Texas, Fluor is a FORTUNE 500 company with revenues of $14.1 billion in 2006. For more information, visit www.fluor.com.