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Project accounting is a type of managerial accounting oriented toward the goals of project management and delivery.It involves tracking, reporting, and analyzing financial results and implications, [1] and sometimes the creation of financial reports designed to track the financial progress of projects; the information generated by this analysis is used to aid project management.
The development of the WBS normally occurs at the start of a project and precedes detailed project and task planning. Through Progressive elaboration , an iterative process in project management knowledge, the details of project management plan and amount of information will increase, [ 10 ] and initial estimates of items such as project scope ...
Project management is the process of supervising the work of a team to achieve all project goals within the given constraints. [1] This information is usually described in project documentation, created at the beginning of the development process.
The PBS is identical in format to the work breakdown structure (WBS), but is a separate entity and is used at a different step in the planning process. The PBS precedes the WBS and focuses on cataloguing all the desired outputs (products) needed to achieve the goal of the project.
Project managers can have the responsibility of the planning, execution, and closing of any project, typically relating to construction industry, architecture, computer networking, telecommunications or software development. Project network is a graph (flow chart) depicting the sequence in which a project's terminal elements are to be completed ...
A project management information system (PMIS) is the logical organization of the information required for an organization to execute projects successfully. A PMIS is typically one or more software applications and a methodical process for collecting and using project information.
Tasks in project management are activity that needs to be accomplished within a defined period of time. Time limit is a narrow field of time, or a particular point in time, by which an objective or task must be accomplished. Work in project management is the amount of effort applied to produce a deliverable or to accomplish a task (a terminal ...
Resources, events, agents (REA) is a model of how an accounting system can be re-engineered for the computer age.REA was originally proposed in 1982 by William E. McCarthy as a generalized accounting model, [1] and contained the concepts of resources, events and agents (McCarthy 1982).