This is the first of a seven part series on recommended practices on Capital Project Monitoring. CIPPlanner Corporation strives for better Capital Program Management for our customers. As we reviewed the GFOA recommended practice released last October, we were excited that the GFOA is making concrete strides in articulating exactly how to do this. Our perspective in working intimately with local governments and agencies as they implement our software puts us into day to day contact with the subtle issues that are the tips and tricks of helping the rubber meet the road in implementing the GFOA's recommended practices. This article seeks to point by point analyze the recommended practice and offer up our warnings, tips, tricks and recommendations about how to get the most out of those practices.
The first element of the recommended practice focuses on:
Identify and incorporate jurisdictional and fiduciary requirements into capital project monitoring and reporting.