The necessity of project schedule updating monitoring statusing

14-Oct-2018 21:46

the necessity of project schedule updating monitoring statusing-61

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In the process of considering management problems, however, we shall discuss some of the common accounting systems and conventions, although our purpose is not to provide a comprehensive survey of accounting procedures.The limited objective of project control deserves emphasis.For example, schedule information and cost accounts are usually kept separately.As a result, project managers themselves must synthesize a comprehensive view from the different reports on the project plus their own field observations.In this discussion, we emphasize the project management uses of accounting information.Interpretation of project accounts is generally not straightforward until a project is completed, and then it is too late to influence project management.In particular, managers are often forced to infer the cost impacts of schedule changes, rather than being provided with aids for this process.Communication or integration of various types of information can serve a number of useful purposes, although it does require special attention in the establishment of project control procedures.

These tools serve the dual purpose of recording the financial transactions that occur as well as giving managers an indication of the progress and problems associated with a project.In addition to cost amounts, information on material quantities and labor inputs within each job account is also typically retained in the project budget.