Which phase involves linking the financial plan to the budget?

The execution phase is where the financial plan is translated into actual budgetary allocations and expenditure. During this phase, the resources are mobilized and utilized according to the budget, ensuring that the financial plan aligns with the operational needs and objectives of the organization. In essence, linking the financial plan to the budget is critical during execution as it ensures that the agreed-upon financial strategies are being implemented effectively.

This phase includes ongoing monitoring of expenditures, adjustments as necessary, and ensuring compliance with budgetary restrictions. Overall, the execution phase is central to actualizing the financial plan, making it the right choice for linking the financial plan to the budget effectively. Other phases like the decision phase are more about planning and strategizing rather than implementing and monitoring budgetary action.