Financial Mechanism as a Part of Programme Management

Financial mechanism as an element of programme management is at the intersection of project management and finance methodologies in the programme management subject area. Projects with the dominance of the investment components in project scope are estimated by stakeholders as the investment projects in a certain activity field, but not as the projects funded by certain capital sources. Different accents, different participants influence tools to each other, different approaches and management styles form the controlled programme environment and the uncertainty of its environment. The goal of the programme (or complex project) is not only a set of products (contract's subjects), but the effects of the participants received. Identification of the stakeholder participation effects has a high degree of uncertainty, but it is crucial in programme contracting and financial mechanism efficiency. As a result, the choice of the contract type, acceptable form of methodology or approach to the programme (or complex project) management and build in financial mechanism take place at different levels: legal, managerial and financial.