6-7 / 3 /2006 INSEAD Campus - Fontainebleau WP7:Project Management FINANCIAL ISSUES

6-7 / 3 /2006 INSEAD Campus - Fontainebleau Cost Statements (1) Personnel Cost Keep timesheets (md) Gather mms of the covering period Use actual month rates (can be justified)

6-7 / 3 /2006 INSEAD Campus - Fontainebleau Cost Statements (2) Overhead rates FC Model – percentage x personnel FCF – 20% x personnel AC – 20% x all costs (except subcontracting)

6-7 / 3 /2006 INSEAD Campus - Fontainebleau Cost Statements (3) Travelling Costs Total amount Specific dates Who Place Full description (reason of travelling) Keep full documentation of the trip (even boarding pass)

6-7 / 3 /2006 INSEAD Campus - Fontainebleau Cost Statements (4) Durable costs Date of invoice (4 months before starting date of the project) SW/HW (depreciation time 60, 36 months respectively) NO VAT Months used in covering period x total cost x % use in project Depreciation rate (36 or 60)

6-7 / 3 /2006 INSEAD Campus - Fontainebleau Cost Statements (5) Subcontracting Date of invoice Name of contractor Number of contract No VAT Full justification

6-7 / 3 /2006 INSEAD Campus - Fontainebleau Cost Statements (6) Other Costs Date of invoice No VAT Full justification (Why it was necessary for the project) Auditor expenses Potential fees in Conferences for dissemination Any change in CPF needs approval (contract amendment)

6-7 / 3 /2006 INSEAD Campus - Fontainebleau Cost Statements (7) Consumables Date of invoice No VAT Full justification (Why it was necessary for the project) No electricity or telephone costs No mailing costs (considered as overhead) Office supplies or books that are 100% connected to the project