1

FOREWORD
In formal literature and popular media, financial literacy,
knowledge and financial training are used interchangeably.
Various sources give different definitions of literacy, but have
one thing in common: money, knowledge and usage all circle
around it.

"The capacity to apply knowledge and skills to efficiently

manage financial resources for life-long financial stability" is
defined by Mandell (2009). Huston (2010) says that financial
literacy consists of two components: comprehension and
application. Understanding financial literacy means that a
person knows personal finance and uses this information to
his money.

In the meanwhile, Hastings, et al (2013) refers to:

Knowledge of financial products (i.e. stock against bond,

difference between fixed and adjustable mortgage);
Knowledge of financial goods.

The acquaintance with financial principles (inflation,

combination, diversification, credit scores);

Being engaged in particular activities like financial planning,

having the requisite mathematical competence or numeracy
for an efficient financial decision making process.

As is widely known, the Filipino attitude upon salary receipt is

that spending takes precedence over saving. What remains is
preserved. If there are none remaining, nothing can be
salvaged.

ONE STEP AT A TIME.

YOU’LL GET THERE.

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TABLE OF

5 27 10

The Project Cycle The Project SMART Objectives

5
The Project Process

6
The Importance of Project
Management Process

7
Project Definition

8
12
Project Management Definition
Sponsors
9
13 INITIATION
Stakeholders

13
9
Project Criticality
Requirements
9
13 Project Type (Complexity)
Project Planning
10
14 Scope Statement
Kick-Off Meeting
11
Project Charter
14
Work-Breakdown Structure

15 22
Network Diagram Reporting

15 23
Gantt Chart Managing Delays

16 23
Managing Risks Escalation

17 24
Teams Negotiating Rational Delays

17 25
EXECUTION Team Meetings

19 26
Managing Changes in Project PROJECT OR PHASE CLOSE

19 34
Resistance to change Appendixes

20
How to influence others?

21
4
Control and Report
 WHEN THERE IS TILL TIME
I. THE PROJECT CYCLE

A. The Project Process

The project process signifies a

process as a distinct action that

represents the full project

implementation and the internal

processes in the project. Work

instructions, procedure

methodologies, network strategies

and tools are also evaluated. It is

important to understand that the

To give the skills for improved
project management process differs
financial decision-making, one
from that of the project process in
must review not just what
that project management is
individuals know but also what
concerned with determining which
they need to know, and then
project management aspects are
evaluate the gap between those
appropriate in order to achieve the
things. There are a few essential
project's goals.
notions at the core of most
In the context of fast changes
financial decision-making. These
and ongoing advances in the
notions are universal, relating to
financial sector and the larger
any setting and economic
economy, it is crucial to assess
condition. Three such notions are
whether individuals are ready to
(1) numeracy as it relates to the
properly traverse the maze of
capacity to make interest rate
financial decisions that they
calculations and grasp interest
encounter every day.
compounding; (2) comprehension

of inflation; and (3) understanding

of risk diversification.
SWEET
LIFE. 5
 The environment of project management is evolving with every passing day.

It is vital to keep pace with the developments if you are interested in

understanding the benefits of project management. Without project

management, teams and clients are susceptible to chaotic management, unclear

objectives, and a lack of resources, unrealistic planning, excessive risk, and

poor quality project deliverables, projects running over budget and delivered

late.

The basics of personal financial planning – teaching young people about

money; the value of money; how to save; invest and spend it and how not to

waste it – have not been taught in school or at home. Without improved financial

literacy, the next generation of leaders, job creators, entrepreneurs and

taxpayers will not have the skills they need to survive and to thrive in this

increasingly complex financial world.

6
 It is a temporary activity undertaken in order to develop a unique

product, service or outcome that is known as a project. No matter how

big or little, each project has its own unique set of goals, timeline, and

set of resources.

We believe that a more financially sophisticated citizenry will help

improve country’s s economy. Financial Literacy Action Plan is intended

as a roadmap for policymakers, educators, and business and nonprofit

leaders who seek to improve the level of financial sophistication among

primary and secondary school students, postsecondary students and

adults. We hope that you find the information contained in the report

informative and useful.

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 D. PROJECT MANAGEMENT DEFINITION

Project management is the process

The significance of financial
of leading a project from its beginning
literacy extends beyond higher
through its performance to its closure.
education. In fact, national attention has
Project management encompasses five
been given to the need for financial
sets of processes. First, Initiating
literacy. In 2012, the President’s
processes. Clarifying the business
Advisory Council on Financial Capability
requirement, setting high-level
asserted that low financial literacy is a
expectations and resource allocations,
potential liability to American society
and beginning to identify audiences that
(Xiao, Ahn, Serido, & Shim, 2014). The
may play a part in your project. Secondly,
Government Accountability Office (GAO)
there are the processes involved in
defined financial literacy as “the ability to
planning. Detailing the project scope, time
make informed judgments and take
frames, resources, and risks, as well as
effective actions regarding the current
proposed approaches to project
and future use and management of
communications, quality, and
money” (Harnisch, 2010, p. 1).
administration of external purchases of
Consequently, a recent national
products and services. Three: carrying out
initiative was launched to improve
procedures. It is necessary to establish
financial literacy (Xiao et al., 2014).
and manage an effective project team, as

well as to communicate effectively with all

project stakeholders and to put the

project's ideas into action. Fourth,

Monitoring and managing processes.

Tracking performance and taking steps

necessary to help ensure project plans are

properly implemented and the expected

results are obtained. Closing processes

bring everything to a close.

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 The job of a project manager is to oversee the execution of all tasks

within a project to ensure that it is completed on time and to a high

standard of quality. It addresses the need for a comprehensive financial

literacy program that provides the student body with the opportunity to

expand their financial literacy.

knowledge

Simple – Temporal

Complexity.

\\\

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 Tigum para sa puhon will develop and implement Financial

planning with the objective of raising awareness to the audience and

educate them about the financial management. Further, we will design

various financial options available to them.

1. To raise awareness and

educate them about the

availability of financial services.

2. To increase public knowledge

of the availability and

characteristics of various types of

financial products.
3. To acquire the essential skills

and information in order to

achieve financial literacy.

4. To alter attitudes in order to

transform knowledge into

action.

5. To be able to help youth to be

financially stable in year 2026.

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 In formal literature and

popular media, financial literacy,

knowledge and financial training are

used interchangeably. Various

sources give different definitions of

literacy, but have one thing in

common: money, knowledge and usage all circle around it.

"The capacity to apply knowledge and skills to efficiently manage

financial resources for life-long financial stability" is defined by Mandell

(2009). Huston (2010) says that financial literacy consists of two

components: comprehension and application. Understanding financial

literacy means that a person knows personal finance and uses this

information to his money.

In the meanwhile, Hastings, et al (2013) refers to:

Knowledge of financial products

(i.e. stock against bond, difference

between fixed and adjustable

mortgage); Knowledge of financial

goods.The acquaintance with

financial principles (inflation, combination, diversification, credit scores);

Being engaged in particular activities like financial planning, having the

requisite mathematical competence or numeracy for an efficient financial

decision making process. As is widely known, the Filipino attitude upon

salary receipt is that spending takes precedence over saving. What

remains is preserved. If there are none remaining, nothing can be salvaged.

According to a research done by Philam Life, 96% of Filipinos are

concerned about their own and their family's health, yet just 16% are

prepared to pay for medical expenses in the event of a serious sickness.

11
 Senior-dependents, or retirees

who rely on their offspring for

financial assistance, are

increasing in number due to a

lack of financial knowledge.

Financial planning educates

individuals to be fiscally

responsible and instills the

discipline necessary to stay on

track with their financial

objectives.

Financial planning entails

teaching Filipinos about the

three distinct sorts of goals they

should pursue: short-, medium-,

and long-term. Short-term goals

include monthly living costs that

must be met or the individual's fundamental requirements, which may

include the establishment of an emergency fund. By comparison, medium

term objectives are those that you wish to accomplish within one to five

years, such as purchasing a house or a car, but long term goals require

more than five years to accomplish.

F. Sponsors

Individuals who donate money to help fund

the project's activities. The Poblacion SK

Chairperson and some Municipality

Politicians sponsored some of the needed

resources for the project.

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 G. Stakeholders
Stakeholders in the project are

everyone or any group who has an

interest in, supports, or is affected by,

it. The Bachelor of Science in Business

Administration major in Financial

Management Students in BukSU

Cabanglasan Campus and other students from different Satellite

Campuses and Universities.

H. Requirements
Technical Requirements

1. Internet connection

2. Laptop or mobile phone

III. PROJECT PLANNING

A. Project Planning Checklist

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B. Kick-Off

Meeting
No kick off

meeting.

C. Work-

Breakdown

Structure

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15
 The risk in project management is everything that might

have an impact on your capacity to get the project finished in

compliance with the business case or project charter. Often,

you’ll find teams characterize risks as being negative:

scenarios that might cause trouble on projects. There are

some examples of typical project risks below.

However, during your risk identification, you should

also attempt to determine positive risk. These are events that,

if they happened, would present an opportunity too excellent

to miss. For instance, if you established a new website, you

might get more visitors than you were anticipated, which

would be an opportunity worth capitalizing on.

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G. TEAMS

H. EXECUTION
A. Conflicts

Conflict occurs when the project stakeholders'

interests, needs, goals, and values collide.

Conflicts should be seen positively by project managers

as chances for growth and as means of progressing the

project toward completion. Conflicts provide an

opportunity for project managers, stakeholders, or any

team member to discuss and address difficulties, as well

as reveal unforeseen issues. It enables people to be

authentic and teaches them how to appreciate and

capitalize on diversity.

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 Poor communication, weak leadership, irresponsible behavior,

insufficient resources, and a limited budget are the primary reasons of

conflict. Conflicts that arise during project management should be taken

seriously and professionally, as they impede production, deplete morale,

and encourage inappropriate behavior. To ensure the projects' success,

it is critical to resolve conflicts quickly.

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B. MANAGING
CHANGES IN
PROJECTS
Requests for changes are an

unavoidable part of any project. Successful

project managers handle changes efficiently

by utilizing change control boards.

Regardless of how meticulously you plan,

unforeseen events are sure to occur at some

time during your project. Among the things

to remember are to avoid vexing your

stakeholders and to make effective use of

change management technologies.

C. RESISTANCE TO
CHANGE
Resistance to change is a widely

known problem for projects. When

stakeholders, project teams and

organizations fiercely fight your project -

you have minimal chance of success. In

many circumstances, its well beyond the

authority, influence and ability of the

sponsor to clear such concerns.

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 INFLUENCE
D. HOW TO
OTHERS

Influencing is the act of affecting the

behaviors and actions of others. Project

Managers can seldom achieve their

objectives by direct authority alone, thus

their ability to persuade others is a vital

talent. Even in those circumstances where

authority can be exercised, it is better to

balance it through influence. In this sense,

acts and behaviors become willing rather

than just compliant.

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 A. COMMUNICATION
A project communications management

plan is a document that specifies all

project communications generated

[Grab your reader’s attention with a great quote from the document or use this space to
throughout the project, their target
emphasize a key point. To place this text box anywhere on the page, just drag it.]
audiences, their information substance,

and their frequency. Prepare an initial

version of your project communications

management plan in the starting-the-

project stage of your project, and revise it

as appropriate in the carrying-out-the-

work stage

V. CONTROL
AND REPORT
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 B. Listening
The one talent that most substantially determines the

quality of your discussions is your capacity to listen actively.

Although you can presume that the information contained in a

message and the structure in which it’s provided affect how

effectively that message is received, you can find out whether the

receiver actually got the message as you intended by listening

attentively to the recipient’s replies. Active listening is

investigating and debating a message that’s being conveyed to

help guarantee that the message is comprehended as intended. If

you’re sending a message, you should encourage your intended

recipient to employ active listening skills to help guarantee that

she accurately understands your message. If you’re getting a

message, you should use these strategies to verify to yourself that

you have accurately received the intended message.

C. Reporting

The reporting is via messenger and phone calls. Project

reporting is vital to project management success since it gives
a window into what's happening and what to do about it for
the entire team.

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D. MANAGING
DELAYS

Unexpected delays are one of the most typical

challenges in project management. In one survey, less

than 50 percent of organizations indicated they

execute projects on schedule. Nearly half of project

managers (46 percent) who responded to another

study claimed that meeting project deadlines were

among their toughest concerns. Project delays appear

to happen more often than not. It is not easy to

manage delays. In this project, the schedule has been

postponed twice and another round of planning take

place,

E. Escalation

Escalation in project management is an expected

rise in uncommitted costs of resources (labor,

material, equipment) over time, due to diminishing

purchasing power of money. Since the project has

been moved twice the uncommitted costs arises.

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 The reasons for delays are mostly

related to an unrealistic project scope,

inadequate early planning and the absence

of risk management mechanisms.

Meeting halfway is the most helpful

thing to do. In this project, there are 3

resource speakers and the schedules are in

conflict. Considering they also have jobs,

unpredicted things arises.

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 Regularly scheduled team meetings give members

an opportunity to communicate successes and

challenges and to sustain productive and trusting

interpersonal connections. These meetings also give

an opportunity to reaffirm the project’s objective and

to keep team members apprised of actions within and

outside the project that affect their work and the

project’s ultimate success. Recognizing that most

employees work on numerous projects at the same

time, these sessions may reaffirm the team’s identity

and working relationships.

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 This project took place Last November 25, 2021. It build
partnership between Local Government Unit of Barangay
Poblacion and other private sectors. Each resource speakers has
been given certificate of recognition and all participants has been
given certificate of participation. Certificate of appreciation has
been given also to all partners who made the project feasible.

VI. PROJECT OR
PHASE CLOSE

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 Bachelor of Science in Business
Administration major in Financial
Management Students, SK and Community
Members of Brgy. Poblacion

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DATE OF IMPLEMENTATION

November 25, 2021

29
In formal literature and popular media, financial literacy,
knowledge and financial training are used interchangeably. Various
sources give different definitions of literacy, but have one thing in
common: money, knowledge and usage all circle around it.
"The capacity to apply knowledge and skills to efficiently manage
financial resources for life-long financial stability" is defined by
Mandell (2009). Huston (2010) says that financial literacy consists
of two components: comprehension and application. Understanding
financial literacy means that a person knows personal finance and
uses this information to his money.
In the meanwhile, Hastings, et al (2013) refers to:
Knowledge of financial products (i.e. stock against bond, difference
between fixed and adjustable mortgage); Knowledge of financial
goods.
The acquaintance with financial principles (inflation, combination,
diversification, credit scores);
Being engaged in particular activities like financial planning, having
the requisite mathematical competence or numeracy for an efficient
financial decision making process.
As is widely known, the Filipino attitude upon salary receipt is that
spending takes precedence over saving. What remains is preserved.
If there are none remaining, nothing can be salvaged.
According to a research done by Philam Life, 96% of Filipinos are
concerned about their own and their family's health, yet just 16%
are prepared to pay for medical expenses in the event of a serious
sickness.
Senior-dependents, or retirees who rely on their offspring for
financial assistance, are increasing in number due to a lack of
financial knowledge.
Financial planning educates individuals to be fiscally responsible
and instills the discipline necessary to stay on track with their
financial objectives.
Financial planning entails teaching Filipinos about the three
distinct sorts of goals they should pursue: short-, medium-, and
long-term. Short-term goals include monthly living costs that must
be met or the individual's fundamental requirements, which may
include the establishment of an emergency fund. By comparison,
medium term objectives are those that you wish to accomplish
within one to five years, such as purchasing a house or a car, but
long term goals require more than five years to accomplish.

30
 The activity is designed to accomplish the
following objectives:
1. To raise awareness and educate them
about the availability of financial services.
2. To increase public knowledge of the
availability and characteristics of various
types of financial products.
3. To acquire the essential skills and
information in order to achieve financial
literacy.
4. To alter attitudes in order to transform
knowledge into action.

1. The participants possessed great

knowledge about Personal Financial
Literacy and Wealth Creation.
2. The participants inculcate the importance
of saving investing.

31
32
 To meet the rising need for more investments in the
country, the financial industry urges Filipinos to save
first and then spend what is left over. Thus, it is highly
recommended to impart knowledge about financial
literacy and this project will also build partnership
between Local Government Unit of Baranggay Poblacion
and other private sectors.

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