project management – cost accounting and financial accounting – GradSchoolPapers.com

TASK
Write a report to your Executive Committee recommending the financial measures and tests that
should be applied to every new project to evaluate its financial viability.
Provide an evaluation of the effectiveness of the financial measures and tests recommended.
THIS PAPER IS TO BE IN THE FORM OF A BUSINESS REPORT TO AN EXECUTIVE COMMITEE
Scenario
The Executive Committee of the client for whom you have been appointed to manage their future
projects, have asked you to provide a report that explains the financial measures and tests, etc, that will
be used to evaluate the financial viability of projects.
NO REFERENCES TO BE USED IN THE PAPER.
ONLY A BIBLIOGRAPY TO BE INCLUDED
BOOKS TO USE:
Project management accounting: budgeting, tracking, and reporting costs and profitability – Kevin R. Callahan, Gary S. Stetz, Lynne M. Brooks c2011
Financial management for decision makers – Peter Atrill 2014
Financial management in construction contracting – Andrew Ross, Peter Williams 2013
1. Project management – Dennis Lock 2013 (electronic resource)
Book
Online Resource
Read status Add note
2. Financial management: theory and practice – Eugene F. Brigham, Michael C. Ehrhardt 2014
Book Recommended
Preview
3. Gower Handbook of Project Management – Rodney Turner 2014 (electronic resource)
ALL OTHER SOURCES TO BE PEER REVIEWED JOURNALS NEWER THAN 2007 FROM UK OR US ONLY.
Rationale
Many organisations undertake a number of projects concurrently, which they select from an even larger
number of potential projects. All the projects purportedly are advantageous to the organisation and
contribute to the achievement of the organisation’s strategic goals. Selecting the right projects to pursue
is recognised to be possibly the most crucial decision that the organisation must make with respect to
the project, so it is equally crucial that the selection process is properly and accurately carried out.
A large part of the selection process involves evaluating the financial viability of the project; to ensure
that the correct decisions are made a wide range of financial data is assembled and used.
Whilst project managers may not be involved in carrying out these financial evaluations and decisions,
they will have to interact with the consequences, and as more project managers move upwards into the
PMO and into host organisations, their involvement becomes much more likely. Therefore, it is essential
that project managers have an understanding of the financial measures and tests that are applied to
projects to evaluate the financial viability of each projecT
THE PAPER SHOULD MEET THE FOLLOWING LEARNING OBJECTIVES:
:
1. Demonstrate a critical understanding of the financial, commercial and cost factors that affect the
management of projects.
2. Critically evaluate and formulate appropriate approaches to provide effective cost management of
projects
3. Gather, critically analyse and evaluate information from a range of sources and perspectives.
4. Adapt, modify and apply ideas, concepts and procedures to different situations.
THE PAPER SHOULD BE CRITICAL