【正文】
longterm contracts involve interim payment for work done by the contract or for materials finance function must ensure that the projected sashflows out of the firm can be maintained without embarrassment, thus accurate projections of these are necessary, clearly, this point cannot be stressed strongly enough when the project relies on borrowed capital. Overestimating these cash outflows results in over borrowing, and at present day interest rates this can be ,underestimation can give rise to under borrowing, and finding money at the eleventh hour is possible only by paying high interest problem is particular acute with large public corporations that borrow form funding bodies such as the European Money Fund( EMF) . performs effective project planning .in implementing an effective control system to achieve the objectives, the buildup and monitored .this blueprint to work from has been established that the progress of a project can be controlled and monitored this blueprint prehends all aspects of cost programme , technical specifications, resources and the developing such a plan, the project team are ensured of a general overview of all the factors affecting the may then present to those approving estimate. aids the estimating process, the system of breaking a project down into small elements of work, as will be described later, helps to produce an accurate. help in subsequent internal audit investigations, the work breakdown structure may be built item of spending which requires investigation can be assessed easily and approval of money for spending on a project is also formalized and under the very tight supervision of the authorizing body .indeed,there is a good deal of pressure on public corporations and other public bodies to initiate and install project control systems. The process of developing a project management information system( MPIS) An information system within an anization must be doctored to suit the levels of management in that macro, meson, and micro levels are described below. The micro level .project engineers and the project team make up this level .the informationgathering system at this level should contain as much detail and be as frequently exercise as possible without neglecting the efficient running of the , a monthly information retrieval system proves adequate .this is the first stage of that filter problem areas, site variations, abortive work,percentage pletions and monthly valuation are gathered. The memo level .the project manager heading the project team construction this level. His concern is with the total project , its overall program and the likelihood of its cost not exceeding the amount authorized .he will receive thi