Application phase
Familiarise themselves with the announcement
When the announcement is published, the project economist must:
- Read the entire announcement, with a focus on the financial aspects
- Discuss upcoming announcements at section meetings
Assist project managers and research advisers when it comes to contact with the funder regarding financial matters
The project economist must contact the research adviser or project manager as needed with any questions concerning the announcement text.
Convene and hold budget meeting 1
As soon as possible after the project manager has decided to apply, or in accordance with the faculty deadlines, the project economist must invite the project manager and research adviser to a budget meeting.
The application initiative must be anchored among unit management before the meeting is convened.
Preparations for budget meeting 1
- Read the announcement
- Send checklist to the project manager
- Receive information and prepare budget templates based on input from the project manager (operating costs and HR costs).
- Clarify whether the project is relevant for PES funds
During budget meeting 1
- Draw up the initial budget draft
- Create a plan for obtaining partner budgets for internal and external partners
- Create a plan for entering into letters of intent, if required by the funder
- Clarify terms of employment
- Agree a time for budget meeting 2
After budget meeting 1
- Submit the draft budget to the project manager, project owner and research adviser
- Complete other tasks agreed during the budget meeting
Create a project folder in the shared finance area
Prior to budget meeting 1, the project economist must create a project folder in the
shared area for the finance section. Folder contents:
- Total budget for the project (all versions)
- Information and confirmations from partners
The project economist must follow the shared structure for storing and designating file names in the folder.
Assist the research adviser in collecting budget information from partners
After budget meeting 1, the project economist must:
- If we are the coordinator:
- Prepare the template for information letters for partners and budget templates
- Document that budget information has been anchored among partner institutions or with internal partners within the University of Oslo.
- If we are a partner: Submit budget proposal to the coordinator
Convene and hold budget meeting 2, as well as further meetings if needed
The meeting time will be agreed at budget meeting 1.
Preparations
- Review tasks agreed during meeting 1
- Verify that the application is anchored among management on the part of partners and at the University of Oslo
- Quality-assure draft budgets in advance of the meeting.
During the budget meeting
- Review and quality-assure draft budgets
- Agree any follow-up meetings
Ensure that the application budget is approved by the project owner
In good time before the application is submitted, the project economist must:
- Review the final application budget together with the project owner
- If necessary, a meeting will be convened to discuss the budget
The final budget must be submitted to the research adviser for signing by the project owner and subsequent archiving.
Assist the applicant in adding budget information to the applicant portal
When the portal launches for registration and the application budget has been approved, the project economist must add the budget figures and other information to the portal in accordance with the funder’s requirements.
Allocation phase
Assist the project manager in familiarising themselves with the financial procedures for project operations
Following notice of allocation, the project economist must review the Faculty of Educational Sciences’ procedures for financial management of projects with the project manager. Information will be provided during the kick-off meeting (template in Norwegian) or by agreement.
Please also refer to information concerning project creation.
Revise application budgets as needed
If it becomes necessary to revise application budgets prior to project creation, the project economist must:
- Invite the project manager and research adviser to budget meetings as needed
- Draw up a revised project budget
- When the revised budget is available, the revised budget must be submitted to the research adviser for signing by the project owner and subsequent archiving
The project economist will collaborate with the project manager, project owner and research adviser to ensure that the task can be managed by the deadlines set by the funder.
Create the project in the University of Oslo’s finance system
The project economist will create the project in the University of Oslo’s finance system when all necessary documentation is available.
- Verify that documentation linked to the project, including the signed budget and contract, can be found in the archive
- Submit the project creation form to prosjekt@admin.uio.no.
- Submit information about accounting entries (project number and initiative) to the project manager, accounting consultant and research adviser (cf. template for information to project managers)
- Register the project creation form in the archive system
Implementation phase
Follow up on project finances
The project economist must continuously:
- Implement status meetings with a focus on following up on budgets and accounts, 1-3 times per year as needed.
- Rebudget the project in case of:
- Substantial project delays
- New end date
- Changed fee
- Redistribution of funds, for example working capital to salaries
- Changes on the part of partners
- When rebudgeting has been performed:
- Ensure that the project owner approves the revised budget
- Update the budget and quality-assure the accounts in the University of Oslo’s finance system
- Inform the funder/coordinator of any changes
- Submit a new budget to the research adviser for signing and archiving
- Transfer of funds to partners in accordance with contract
The tasks are performed in collaboration with the project manager, project owner and research adviser.
Manage release time
In connection with quarterly reporting, the project economist must:
- Calculate and implement release time
- Ensure that the project owner, research adviser and resource planner are informed of the release time for project team members and the project manager
Assist in reporting to the funder and/or coordinator
In accordance with the deadlines set by the funder or coordinator, the project economist must, in collaboration with the project manager and research adviser, assist the project manager with financial progress reporting.
Please also refer to the University of Oslo’s templates and tools for reporting (in Norwegian).
Assist the research adviser in ensuring that project documentation is managed
In the event of change notices, the project economist must:
- Save revised budgets in the project folder
- Save revised budgets in the archive system
- Manage the documentation of EU projects, cf. the procedures for documentation of EU projects at the Faculty of Educational Sciences
The task is solved in collaboration with the research adviser, project manager and archivist.
Conclusion phase
Quality-assure accounts
In good time before the final reporting, the project economist must:
- Check the accounts against the budget/forecast
- Ensure that all financial transactions have been completed
- Discuss any non-conformities with the project owner
Assist with the final financial reporting
By the funder’s deadline, the project economist must:
- Add figures to the final report to the funder
- When we are a partner: Contribute to reporting to the coordinator and submit final invoices as needed
Close the project in the University of Oslo’s finance system
At the end date of the project, the project economist must:
- Verify that the final transfer from the funder has been received
- If necessary, extend the project in the University of Oslo system
Please also refer to the procedures for the conclusion of projects (in Norwegian).
Questions?
Identify contacts in the finance section at the Faculty of Educational Sciences.