1. What is Funds to Complete?

Funds to Complete represents the remaining funds needed for project completion per CBA (Commonwealth Bank Australia) requirements. It calculates the gap between total project cost and funds already drawn.

2. How Does the Calculator Work?

The calculator uses the simple formula:

Where:

• Total Project Cost — Complete project budget in AUD
• Funds Already Drawn — Amount already withdrawn from funding in AUD
• Funds to Complete — Remaining funds required for project completion in AUD

Explanation: This calculation helps project managers and financial controllers track remaining funding requirements and ensure adequate resources for project completion.

3. Importance of Funds to Complete Calculation

Details: Accurate funds tracking is crucial for project financial management, ensuring projects remain within budget and identifying potential funding shortfalls early.

4. Using the Calculator

Tips: Enter total project cost and funds drawn in AUD. Both values must be positive numbers, and total cost should be greater than or equal to funds drawn.

5. Frequently Asked Questions (FAQ)

Q1: What is the purpose of calculating Funds to Complete?
A: It helps project stakeholders understand remaining financial requirements and plan for adequate funding to complete the project successfully.

Q2: How often should this calculation be performed?
A: Regular monitoring is recommended, typically monthly or quarterly, depending on project duration and complexity.

Q3: What if Funds to Complete shows a negative value?
A: A negative value indicates over-drawing, which may signal budget management issues and should be investigated immediately.

Q4: Are there limitations to this calculation?
A: This is a basic calculation and doesn't account for potential cost overruns, scope changes, or unexpected expenses.

Q5: How does this relate to CBA requirements?
A: CBA often requires this calculation for project financing to ensure adequate funds are available throughout the project lifecycle.