The Master Guide to Controllers' Best Practices, 2nd Edition

CHAPTER 20.PROJECT MANAGEMENT AND IMPLEMENTATION

A project can be defined as a “temporary endeavor undertaken to create a unique product or service.”¹

“Temporary” means that every project has a definite beginning and a definite end. “Unique” means that the product or service is different in some distinguishing way from all other products or services. Projects are a mechanism to address business requests that cannot be addressed within the normal operations of the business.

The life of a project can span weeks or years. Some examples of projects are: implementing an automated system, designing and completing a building, and implementing the requirements for SOX Section 404.

Chapter 20. Project Management and Implementation

Five Components of Project Management

Developing a Project Plan

Creating a Budget

Steps to Take When Defining Your Project

Sample Outline for a Technology Implementation

Communicating and Monitoring While You Implement

Conducting a Post-Implementation Review (PIR)

PIR Report Components

Case Study

Acknowledgments and Resources

FIVE COMPONENTS OF PROJECT MANAGEMENT

Project management is the application of knowledge, skills, tools, and techniques to project activities to meet project requirements within timelines and cost estimates. It is accomplished through initiating, planning, executing, controlling, and closing, as depicted in the following exhibit.

Source: This chart was developed using material from the Project Management Institute’s ...