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MODULE 5F: MANAGEMENT ACCOUNTANT'S ROLE IN ROJECT COMPLETION AND REVIEW
MODULE 5F: MANAGEMENT ACCOUNTANT'S ROLE IN ROJECT COMPLETION AND REVIEW
SPECIFICATION SATISFACTION CONSENSUS
-ENSURE THAT CONSENSUS IS REACHED ON THE EXTENT TO WHICH THE PROJECT HAS MET ITS ORIGINAL / ADJUSTED OBJECTIVES
PG559
THE COMPLETION DECISION
- IMPORTANCE TO MONITOR THE LIKELY SUCCESS OR FAILURE & CONSIDER THE POTENTIAL BENEFITS OF WALKING AWAY FROM THE INCOMPLETE PROJECT
PG559
ACTIVITIES DONE :
PG559
MONITOR PROJECT & ENSURE COMPLETION IS THE BEST OPTION
MANAGE ACTIVITIES REQUIRED TO COMPLETE THE PROJECT
ENSURE STAKEHOLDER CONSENSUS O PROJECT DELIVERABLES
FINANCIAL CLOSURE OF PROJECT
DISPERSE PROJECT ASSETS
POST IMPLEMENTATION REVIEW
PREPARATION OF FINAL PROJECT REPORT
KNOWLEDGE MANAGEMENT
CHECKLIST
= "PUNCH LIST" (HEERKENS 2002)
A LIST OF FINAL DELIVERABLES HAS TO BE DRAWN UP TO COMPARE AGAINST ORIGINAL PROJECT PLAN WITH THE OBJECTIVES COMPLETED TO DATE
LIST THE ACTIVITIES REQUIRED TO COMPLETE THE PROJECT, PRODUCE A SCHEDULE FOR THOSE ACTIVITIES AND ASSIGN THE RESPONSIBILITIES FOR THEIR COMPLETION
STRATEIC FIT ASSESSMENT PG560
3 TYPICAL QUESTIONS :
WHAT WAS THE UNDERLYING PROBLEM / OPPORTUNITY THAT THE PROJECT WAS DEALING WITH, AND DID IT DELIVER AGAINST IT?
DID THE PROJECT DELIVER AGAINST THE STRATEGY THAT IT WAS INTENDED TO SUPPORT?
DID THE PROJECT DELIVER AGAINST ITS OBJECTIVES AND ASSOCIATED PERFORMANCE MEASURES AND TARGETS?
A) WHAT ARE THE
OBJECTIVES
(BUDGET, TIME, SPECIFICATION)
AND TARGETS IN EACH 3 AREAS?
B) WHAT WAS THE ACTUAL PERFORMANCE IN EACH OF THE 3 AREAS?
C) HOW MUCH WAS THE VARIANCE?
D) WHAT IS THE REASON FOR THE VARIANCE?
CHALLENGES WHEN ANALYSING THE EXTENT TO WHICH A PROJECT HAS DELIVERED AGAINST ITS OBJECTIVE AND THE ORGANISATION'S STRATEGY
STRATEGIES IN ORGANISATION CHANGES, WHILE A PROJECT MAY HAVE FITTED THE ORIGINAL STRATEGY, STRATEGIC CHANGE MAY PUT THE PROJECT INTO STRATEGIC MISALIGNMENT -
NEED TO ENSURE CONSTANT REVIEW ALIGNMENT BETWEEN STRATEGY AND PROJECT DELIVERY IS UNDERTAKEN
MANAGEMENT NEEDS TO STAY AWARE OF SECOND ORDER IMPACTS (UNCLEAR & NON QUANTIFIABLE PROJECT OUTCOMES)
SHAREHOLDER SATISFACTION ASSESSMENT
ESTABLISH WHETHER EACH STAKEHOLDER'S REQUIREMENT HAVE BEEN MET & DOCUMENT ANY ISSUES ARISE/ SUCCES ACHIEVED DURING THE PROJECT
ONGOING PROCESS TROUGH OUT THE PROJECT
STAKEHOLDER CAN HABE AN ITEREST IN THE PROJECT AT DIFFERENT STAGES
THE ABILITY TO FIX ANY STAKEHOLDER CONCERN IS REDUCED SIGNIFICANTLY BY THE END OF THE PROJECT
FINANCIAL CLOSURE PG 561
DETERMINE FINAL BUDGET
CLOSE COST RECORDS
DEAL WITH POST BUDGET EXPENDITURES
RESOURCE DISPERSION PG 562
- DISPOSAL OF EXCESS SUPPLIES AND CAPITAL EQUIPMENT
1 SELLING EXCESS STOCK TO CUSTOMER
RETURN TO SUPPLIERS AND GET REFUND
STOCK TO BE ABSORB INTO INVENTORY FOR OTHER PROJECTS
FINAL REPORT PG562
CONTAINS -
OVERVIEW
MAJOR OUTCOMES
BUDGET ANALYSIS
VARIANCE ANALYSIS DATA
ADMINISTRATIVE ANALYSIS
FUNCTIONAL PERFORMANCE
LESSON LEARNT
KNOWLEDGE MANAGEMENT PG562
ENSURE ORGANISATIONAL LEARNING OCCURS
USEFUL FOR FUTURE PROJECT COST ESTIMATION