Project Management Central

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What level of involvement does your Project Management discipline have in the budget development/management process?

We have recently transitioned some financial responsibilities over to our Program Managers/Project Managers and am curious to know what types of financial responsibilities your PMs have - from initiating to closing. We are constantly looking to ensure we are staying true to our focus on delivering to the customer, while also working to align the Project Management discipline in our organization with that of the industry standards.
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In my case full responsibility, as for the projects I am leading I am also accountable for the project margin.

My team develop or review initial business cases and budgets for Intake, and also manage the approved budget thereafter until close. I try to make sure the tools are easy as possible to use and maintain, that change control processes for budgets are clear, communications are clear and consistent. They track all invoices and open or close POs, and provide capex/opex forecasting.

The budget of the Korea IT (Information Technology) industry can only be made within the budget determined by the ordering company.
It is not easy to enforce additional budgets beyond that.
If additional budgets are to be implemented, they must be linked to other projects, or an independent project must be planned for additional budgets.

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