Background & Overview
During project execution, procedures for project control and record keeping become indispensable tools to managers and other participants in the process. These tools serve the dual purpose of recording the financial transactions that occur and gives managers an indication of the progress and problems associated with a project.
Interpretation of project accounts is generally not straightforward until a project is completed, and then it is too late to influence projects. Even after completion of a project, the accounting results may be confusing. This course therefore discuses the problems associated with resource utilization, accounting, monitoring and control for projects. The emphasis is on the project management uses of accounting information.
- Determine the cost of a project from initiation to completion.
- Identify various activities undertaken at project monitoring stage.
- Comparison of actual cost at each stage/section of the project with the relevant estimated costs and determination of causes for the discrepancies, if any.
- Ensuring that when the costs differ, corrective actions are taken; and when corrective actions are not possible, ensuring that the costs are revised and objectives are achieved.
Accountants, Auditors, Project Managers, Project Supervisors and Project Consultants in government agencies and parastatals; It is also suitable for senior and middle level project administrators, divisional heads, departmental heads, oversight functionaries and all those involved in projects.
Location: Cape Town, South Africa; Lusaka, Zambia