Банкеръ Weekly

Briefs

FINANCING IS ESSENTIAL FOR A SUCCESSFUL PROJECT

Good management of projects is an issue, interesting to NGOs, representatives of local government, state administration, and international financial institutions. That is why they gathered at the First National Conference on Management of Projects, held on June 10 at the Sofia Hilton. The forum was organized by the Bulgarian Projects Management Association, set up in May 2002 on the model of national associations which are members of the International Projects Management Association (IPMA). Its aim is to unite the firms that work for the improvement of the quality of projects and their professional management. Most of the participants pointed out the financing as essential for the successful management and implementation of projects. In his official address the Resident Representative of the World Bank in Sofia Oscar de Bruyn Kops gave some theoretical advice for successful projects. The aim of the modern project management, according to him, is to realize a successful project. Bad management is expensive. In order to avoid faliure a project should be managed throughout all its stages. The World Bank is very experienced in managing projects in the former socialist countries. The main factors for a successful fulfillment, pointed out by Mr. Kops are: the ownership on the project and the involvement of the agency that manages it, the quality at the entrance of the project, which means that it should be well planned. Other indicators are the readiness of the executor to fulfill all its stages. The participants in the project play a significal role. The team's skills and its knowledge of the procedures for work with the World Bank are also very important. The strict scheme for monitoring on the part of the agencies that manage the projects is also an essential factor for their successful implementation.

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