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Module 5 (Part F: The management accountant's role in project…
Module 5
Part F: The management accountant's role in project completion and review
The complete decision
Checklist
Specification satisfaction consensus
Strategic fit assessment
Stakeholder satisfaction assessment
Financial closure
Resource dispersion
Final report
Knowledge management
Part C: The management accountant's role in project selection
Developing a business case for projects
Strategic analysis/fit
Stakeholder identification and assessment
Ethically informed decision-making
Risk assessment
Risk identification
Risk classification
Financial analysis - single project
NPV
Project costs
Forecast cash inflows and out flows
Estimated life of the project
Discount rate
Internal rate of return
Return on investment
residual income
Deficiencies in accounting based measure (ROI and RI)
Sensitivity and scenario analysis
Financial analysis-multiple projects
Equivalent annual cash flow
Balancing stakeholder interests with project specification and financial returns
Part E: The management accountant's role in project monitoring and control
Monitoring progress
Monitoring costs
The earned value method: Time vs cost
Monitoring specification and quality
Quality cost
Designing performance measures
The importance of probity in projects
Risk management
Having the right project team
Monitor known risks
Monitor unknown risks
Diagnostic control
Interactive control
Establish contingency responses
The risk return trade-off
Stakeholder management
Part B: Roles in project management
Project sponsor
Project manager
Project leadership and the management accountant
The project team
Task-force project team
Matrix project team
International project teams
Project management roles in international project teams
Virtual project teams
Part A: Project management define
What is a project?
define start and finish time
related activities
providing a solution to a problem
What is project management?
The project management process
stage 2: project planning
stage 3: project implementation, control and monitoring
Stage 1: project selection
Stage 4: Project completion and review
Organisational structures for projects
Project organisations
Internal projects
Public private partnerships
Joint ventures
Collaborations
Virtual projects
Managing international projects
Part D: The management accountants's role in project planning
Project scheduling
GANTT charts
PERT: project evaluation and review technique
Step 1: Draw a network diagram
Activity on arrow
Activity on node
Step 2: Calculate expected time
ET= (O+4ML+P)/6
VAR=[(P-O)/6]^2
Step 3: Define the critical path
Step 4: calculate slack
Critical path method (CPM) and crashing projects
Define crash time and costs
Define financial benefits from shortening a project
Define the order of activities to crash
Cost optimising
Project budgeting
Project management software
Contracts