How can you evaluate the effectiveness of financial communication in a program?

I have been amazed far too many times on programs that the people working on the program and ultimately responsible for its success do not understand how companies make money or the importance of financial performance to future work. It is imperative that you can explain this to non-financial employees. Talking like a CFO to a new engineer likely won’t resonate the way you may jntend.

At Miso Robotics, I set objectives for financial updates to align teams on budget, NRE costs, fuel data-driven decisions, and increase cost consciousness. This focused clear communication so that everyone can be on same page before making any strategic decision. I feel transparency is the key

before objectives, targeted audience is missing. valid communication has initiator, message, mean of transmission, receiver and action plan. all that need to be addressed to have effective communication,

To see if your financial communication in the program is effective, check how well the team understands the money talk. After sharing financial updates, ask around. Do they get the budget situation, costs, and future money plans? Confusion means you might need to change your approach. Watch how money decisions are made after you've shared info. If they don't match up with what you said, there's probably a gap in understanding. Get the team to tell you if they're not getting something. And remember, don't just throw numbers at them; make it clear and simple. You want everyone on the same page, making smart choices based on the financial info you've given them.

Evaluate financial communication by assessing audience understanding through surveys, ensuring clarity in messages and explaining technical terms. Establish feedback mechanisms, prioritize accessibility of information, and maintain consistency across channels. Embrace technology for effective communication, monitor engagement metrics, and ensure timely reporting. Verify compliance with regulations and accuracy in financial information. Evaluate the impact of communication on decision-making processes, enabling continuous improvement for transparency and stakeholder comprehension.

A key element is to understand your audience and change the method when the spectators change. Peter Drucker distinguishes between readers and listeners. US President John Fitzgerald Kenedy was a reader while President Ronald Regan was a listener. The first category prefers to read a report carefully and after that make a decision, while the second would like to be briefed by experts on the subject. If you need to inform a key issue is useful that you socially first with a few colleagues before making an official announcement.

Pour une communication financière efficace dans le cadre d'un programme, nous pouvons utiliser les méthodes suivantes: - Le communiqué de presse - Les réunions de présentation - Les assemblées générales - Les lettres aux actionnaires - Les supports imprimés - Les réseaux sociaux.

For hotel projects, I chose email communication for sensitive budget overages so I could read reactions and adjust accordingly, while using memos for status updates to document for owners.

The feedback loop is essential in any project financials communications. My lesson learned is to have upper management acknowledge receipt of all communications, especially if a project is moving out of green. Just because we send the reports doesn’t mean the right people are reading and understanding them. When the project is suffering, one way communication will not be enough. In future, I will be asking (in writing) how my upper management feels about the project trends.

Embed the communication in a platform that provides for consistent reporting, easy access and further reporting capability that allows users to easily identify how your information rolls up to real-world financial outcomes and drills-down to underlying detail about how that information is built up.

In my previous company, I tailored language and detail for the recipients - using technical terminology with engineers while emphasizing impact in leadership communications

Il est utile d'envisager la communication de la manière suivante: Consacrer 10% du temps à défendre son point de vue, 10% à clarifier les priorités et les demandes et 80% du temps à poser les questions et à recueillir les renseignements sur les intérêts, les préoccupations et les priorités des autres. Il faudra alors: -Communiquer avec persuasion - Utiliser un langage clair - Présenter clairement ses idées - Être curieux, écouter, poser des questions. - Formuler des demandes plutôt que des exigences - Avoir un bon langage corporel et un bon timbre vocal.

In my experience, language ensures the message is understood or not understood at all! Not everyone in a tech development team enjoys tracking financial metrics. Data points have to be translated to data points of audiences' relevance, for ensuring you get right results / action items after the communication.

Say for example you are given a task for coming up with the financials for an upcoming project. It becomes really essential in this case that you provide a complete reasoning behind every cost that you considered to the key stakeholders. Costs pertaining to: 1. Manpower Requirements(Hiring or existing) 2. IT infrastructure 3. Man-hours 4. Logistics 5. External consulting Justification, assumptions, and breakups for all these costs become very important to determine profitability.

Contextualizing financials is critical; raw data alone risks misinterpretation and misguided actions. For instance, without framing an overrun by current project phase, vendor performance issues driving it, and likely timeline impact, teams may hastily cut costs or staff in unaligned ways. I avoid this by tailoring analyses to milestones, supplier agreements, and models predicting schedule feasibility from variances. This localized context enables calibrated responses. Specifically, I highlight not just absolute overrun dollars but phase-specific contributor analyses, contract provisions for negotiating credits, and quantitatively backed timing impact assessments.

La communication financière definit l'ensemble des opérations de communication visant à séduire et à convaincre les investisseurs et les actionnaires. En dehors des rapports annuels, bilans, comptes de résultats, perspectives et décisions stratégiques; elle englobe aussi plusieurs aspects non financiers tels que les informations sociales et environnementales qui sont susceptibles d'influencer la vie du programme-projet.

I conclude my financial communications at my previous company by soliciting input on additional data needs while scheduling follow-ups to address questions, ensuring continued alignment throughout the project lifecycle.

Assess financial communication through clarity, relevance, consistency, timeliness, accessibility, feedback, compliance, and impact on decision-making for a comprehensive evaluation of its effectiveness in a program.

Les impressions des autres parties prenantes au projet permettent une évaluation rapide de la compréhension et de l'appropriation de la communication. Étant les bénéficiaires du rapport financier élaboré et des projections proposées, la prise en compte de leurs suggestions, avis, observations, critiques, permettra de mettre en place un processus efficace et efficient de suivi des recommandations.

Checking if your financial communication in the program is hitting the mark? See if the team really gets the financial side of things. After financial updates, ask around – are they clear on the budget status, costs, and projections? If there's a bunch of confused faces, you might need to tweak your approach. Also, keep an eye on how financial decisions are made post-communication. Are they in line with the info you've shared? If not, there might be a gap in understanding. Feedback's key here – encourage the team to speak up if they're not getting something. And don’t just drown them in numbers; break it down, keep it simple. The goal is to make sure everyone's on the same financial page and can make smart decisions based on that info.

Financial information is confidential information so need to be shared with the right audience who should have the access for the same. Moreover, presenting just numbers wont server the purpose. We should present the context in which we should see the financial information shared with the stakeholders. I typically use story telling around numbers so that people can understand it better and take decision accordingly.