A project has a defined beginning and an end.
Projects are temporary and have defined scopes and resources.
A project is not a routine operation, but a specific set of unique operations designed to meet a singular goal.
Projects often have designated teams that do the work and include people who don’t usually work together, sometimes even from different organizations and geographic areas.
Example projects include constructing a house, developing software, a disaster relief effort, expanding sales into a new geographic market, and introducing a new product to the catalog.
Projects must be closely managed to ensure they are on budget, on time, and integrate as seamlessly as possible into the organization.
Businesses often hire a Project Manager who can apply their knowledge, skills, techniques, and tools to fit a project’s requirements.
Sherman Oaks Accounting & Bookkeeping powered by One Source Services has managed many projects for numerous businesses across a wide range of industries over the years.
We have identified five phases of project management:
1 – The Initiation Phase
When we carefully examine a project and determine whether or not it will be beneficial and feasible for the business.
2 – The Planning Phase
When we document the plan, charter, and scope of the project. All work to be done is outlined, a team is assigned to the project, budgets are calculated, resources are allocated, and a schedule is created.
3 – The Implementation Phase
All resources and tasks are distributed and responsibilities are delegated to the teams.
4 – The Performance Control Phase
The scheduled work is performed and the progress and status of the project are compared to the actual schedule, budget, and other plans. As Project Manager, we may have to make adjustments to schedules or processes to solve problems and keep the project on track.
5 – The Closing Phase
Once the organization approves the project outcome, we evaluate overall project success and identify areas for improvement.
Project Management requires us to oversee many crucial aspects of a project including:
> Managing Risk
> Quality Control
> Human Resources
Sherman Oaks Accounting & Bookkeeping powered by One Source Services brings a unique professional experience and focus to Project Management that is shaped by a passion for gap analysis, a strong financial perspective, and lots of business management experience.
We’d love to have a conversation about how our Project Management experts can help with your next endeavor.