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Programme organizations of EU funded regional or sectoral programmes typically fund hundreds or even thousands of projects, which are managed by public or private organizations (beneficiaries), each being at a different level of organizational project management maturity. The non-existence of organised PM Offices at the project organizations, the lack of PM skills, and in many cases the inefficiencies of the MIS Systems contribute to increase risks related to the optimum allocation of funds to potential project organizations and consequently to high opportunity costs derived from not being able to fuJly utilise the programme's available funds. Although payments to projecL organizations usually follow the progress of the project, usually delays in projects are identified rather late when there is not enough time to efficiently reallocate funds that will be not consumed by certain beneficiaries as they had planned …