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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.
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.
A phase-gate process (also referred to as a waterfall process) is a project management technique in which an initiative or project (e.g., new product development, software development, process improvement, business change) is divided into distinct stages or phases, separated by decision points (known as gates).
The systems development life cycle. Schedules in project management consists of a list of a project's terminal elements with intended to start and finish dates. Scientific management is a theory of management that analyzes and synthesizes workflow processes, improving labor productivity.
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).
According to Gartner, there is a 5-stage maturity model for S&OP, and in this model, integrated business planning is denoted as Phased 4 & 5. [ 1 ] Over time, IBP has evolved, combining Enterprise Performance Management (EPM) and S&OP to enhance planning capabilities for financial and operational professionals. [ 2 ]
Management control as an interdisciplinary subject. A management control system (MCS) is a system which gathers and uses information to evaluate the performance of different organizational resources like human, physical, financial and also the organization as a whole in light of the organizational strategies pursued.
The process approach to project management developed in the 1980s, largely in Europe. [4] The main focus of this approach is the use of structured processes throughout project execution in order to achieve its objectives. [4]