Green Urbane is a leading project finance and infrastructure advisory company in the United Arab Emirates, working in the project advisory sector for all leading industries. We help industries set and structure finance for pioneering projects in emerging markets and new sectors. For over ten years, we have been dealing in various sectors and serving different clients across several categories. Our over ten years of experience have taught us that by utilizing project finance advisory, businesses can prosper and achieve their objectives in less time.
For a project finance advisory to be successful, there are a few basic and fundamental steps that we need to follow to get satisfactory results.
Moreover, in recent years, especially after the COVID-19 pandemic, we have all learned the good lesson of always being prepared for the worse. By regularly reviewing the functions and operations of our organization, we can have a positive impact on our company. Here are 5 tips and practices that will help you refine and adjust your current practices to the best possible outcome for a successful project finance advisory.
1. Picking the Right Metrics
Project managers are generally not good at or experts at correctly interpreting the financial data. Most project managers are burdened with other key responsibilities, such as ensuring the project goes smoothly, that all deliverables are made on time, and other similar tasks. This leaves the financial aspect of a project lacking. In many cases, even though a project is technically perfect, it may fail to lead to profits due to poor financial management.
When you face such circumstances, then hiring one of the project finance advisory firms in Dubai makes a lot of difference in your profit yields. You can choose companies like Green Urbane, which are seasoned and have more than a decade’s experience working in similar domains.
The project finance advisory firm you hire can help your project managers understand the metrics that you use for managing your projects. To make things easier for a project manager, if you give them only one metric, then you reduce their ability to analyze things in the proper way. On the other hand, hiring a project financing company in the UAE will help your managers interpret various metrics correctly and adopt a profit-yielding road sooner.
2. Make Regular Review Of Your Company And Project Metrics A Regular Habit
When you finally have settled on which financial data and metrics you want your project managers to interpret, it is now time to make it a regular habit. Just encouraging your managers to regularly review won’t help. It should become a regular habit at the entire institutional level.
You can include a review of financial data before you begin each of your meetings. This way, you will ensure consistency on an institutional level in your company. Sometimes, project managers get burdened with extra work and get easily distracted by a longer e-mail or a big invoice. At such times, when you hire a PPP and project finance firm in the UAE like Green Urbane, our advisors help your project managers to stay in line and review financial data regularly. Our managers make coordination of everything easy and make the project run smoothly.
3. Leading By Example
Daily data entry and review of financial data are as important as chalking out a financial plan. Often, project managers put off the task of doing daily reviews and updates until the weekend. This makes project managers go blind for the entire week they have worked in, and then again, they are completely blank for the forthcoming week ahead of them. This causes unnecessary confusion and delays in the execution of a project.
To combat this, when you hire us as your project finance and infrastructure advisory in Dubai, we will provide you with a simple solution to overcome such obstacles. We can help you decide on a plan where the top leaders can choose to lead by example. When top leaders are disciplined and review their dashboards regularly, the lower management gets inspired by this and follows suit. A daily review of financial data can give project managers a clear idea of where to focus their work energy for the day. In such a way, the energy and focus of the entire staff stay focused on things that are a priority and will bring faster results for your institution.
4. Monitoring the Percentage of Complete Data for Each Project
captured percent complete data is very different from the percentage of billing done. Top-level management should capture the data of the percent complete work of each project manager weekly or at least every ten days. In the early stages, most project managers have a tendency of overestimating the percentage of completed work they have done.
When you hire a project finance and infrastructure advisory firm in Dubai, they help you realize where you are lacking and where you should put your focus on. Most project managers start off project work quickly and finish nearly 20% of the work in the first week itself, but they end up de-railing their progress there onwards. As more time goes by, the budget gets drier but the project has not progressed in the desired way. Tracking the percent complete data in such a situation helps keep projects on track and avoids situations where 80% of the project is to be completed in only 20% of the budget.
5. Don’t Let High Performers Break The Rules
Often times unknowingly companies reward high performers with some exceptions and excuses. It is a tempting thing to do because everyone wishes high performers more. But top management ends up setting bad example when they give exceptions to certain individuals. Projects are a crucial part of any company and in such times top management should show everyone that following rules is important and that leads to the completion of projects on time. For the high performers, this is the right time to show their younger colleagues that by sticking to the rules you can lead and achieve results.
When you hire us, as your project finance and infrastructure advisory in Dubai we can show you different ways by which you can encourage a progressive and disciplined culture in your institution and have a successful project finance management.