En accounting terms, project management consists of organizing and integrating important tasks in the development and management of a large project in a company, such as related costs, tracking hours, billing the project or planning and record of activities.
By recording the working hours used for the project, the supervisor can calculate the total costs and create a bill with all hours and accounting. In addition, it can give an idea to the client and the company as to whether or not the project is profitable. Project management is also useful for keeping an electronic record of the entire project in order to obtain statistics and data that can be analyzed at any time. Thus, it is possible to assess any deviation from the original project plan in its various key areas.
For all project management to be effective, it is essential to have specific tools and methods that help control the different tasks of the project, such as, for example, the analysis of investments and cost-benefit, the evaluation of the trend in compliance. of objectives and costs, simulations, etc. The effective control of a project raises the possibility of defining that it is well directed and executed on time and according to the pre-established budget.