Projects at Work

Know-Account Projects

Business-as-usual financial processes don’t address the unique realities of managing project costs. Here are some project accounting best practices, which can help bring project managers, sponsors, clients and the company bean counters closer to one version of the truth.


When I was managing a portfolio of projects at my last employer, the most stressful moments came not when I was eyeball to eyeball with the customer in a project meeting but when I was in management meetings with our finance director. Don’t get me wrong, he was a nice enough chap and we got on famously, but it often seemed we were talking about different projects, such was the chasm between our respective views.
 
You see, as a project/program manager, my focus was on getting things done: problem solving, managing work, planning. My finance director was more worried about tracking the money: recognizing revenue, absorbing costs and forecasting the final impact on the …


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TOP CONTRIBUTORS

John D'Entremont

Project Manager, PMP
John D’Entremont, PMP, is a project manager in the financial industry, w…

Glen Alleman

VP Program Controls, Lewis & Fowler
As VP, Program Controls, Glen brings his 30 years experience in program …

Andy Jordan

President, Roffensian Consulting Inc.
Andy Jordan is a well known author and speaker on project management and…

Tom Mochal

President, TenStep Inc
Tom Mochal, PgMP, PMP, TSPM is the president of TenStep, Inc. (www.TenSt…

Janis Rizzuto

Contributing Editor, ProjectsAtWork
Janis has been writing for ProjectsAtWork for more than a decade, starti…

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Editor, ProjectsAtWork.com
Aaron has been the editor of ProjectsAtWork since 2001, leading its evol…

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