About the Book
Praise for Project Management Accounting: Budgeting, Tracking, and Reporting Costs and Profitability "You don't need to be a Six Sigma Black Belt or a CPA to understand the principles and the practical tools presented by Callahan, Stetz, and Brooks in Project Management Accounting. Their approach focuses on sound financial practices that will improve the ROI of your project whether it is your first or your hundred-and-first experience." -Barry Van Dyck, PhD Director of Degree Programs, Executive Education, Mendoza College of Business, University of Notre Dame "Project Management Accounting serves as a solid resource for the project manager seeking to leverage the tools of accounting and finance to maximize the quality of project outcomes." -Jeffrey J. Lampe, CFA Vice President, Hopewell Ventures "Project Management Accounting clearly communicates fundamental accounting principles and applies them skillfully to the field of project management ...even seasoned accounting managers will likely benefit from the application to project management. Talented project managers will find enough finance and accounting tools to transition toward profit and loss responsibility.
This book will serve as a handy reference." -Warren Davidson CEO, Global Source Mfg. "This is a must-read for everyone in business, whether you have made a career in project management, operations, facilities, or anywhere else. Project Management Accounting provides the framework to understand not only how to manage any project, but how the project interacts with the different functions of the company for the overall good. When applied, [this book] will improve the profitability of the company through an understanding of the costs and benefits of each project." -Michael Alte Management Director, ArvinMeritor Today's project managers need to understand finance and accounting concepts in order to make both informed decisions and a greater contribution to their organization. Written for readers with limited business backgrounds, Project Management Accounting is an invaluable guide to successfully performing projects using sound finance and accounting concepts.
With the collected insights of authors and respected industry experts Kevin Callahan, Gary Stetz, and Lynne Brooks, Project Management Accounting offers guidance that project managers can use right away to know how to budget appropriately. Brief in presentation and rich in content, Project Management Accounting equips the leaders of today and tomorrow to hit the ground running with a profound business perspective in their current work and in future projects.
Table of Contents:
Preface. Chapter 1: Project Management and Accounting. Mission, Objectives, Strategy. Project Planning. Project Execution and Control. Chapter 2: Finance, Strategy, and Strategic Project Management. DuPont Method. Chapter 3: Accounting, Finance, and Project Management. Project Team and Financial Success. Calculating Return on Investment. STO Solution Model. Implementing Strategy throughout the Company. Conclusion. Chapter 4: Cost. Definition and Purpose of Cost. Cost Classifications. Cost Decisions. Cost of Quality. Cost and Industry. Conclusion. Chapter 5: Project Financing. Debt Financing. Equity. Income Tax Effect. Cost Implications of the Funding Methodology. Conclusion. Chapter 6: Project Revenue and Cash Flows. Role of the Financial Manager. How to Calculate the Statement of Cash Flows for a Company. Free Cash Flows. Methods for Calculating a Project's Viability. Conclusion. Chapter 7: Creating the Project Budget. Introduction. Case Study: Pontrelli Recycling, Inc. Planning for the Future. Creating a Project Budget. Review Project Financials. Project Cash Flow. Conclusion. Index.
About the Author :
Kevin R. Callahan, MBA, PMP, is currently a Special Advisor to the CEO and Director of the Project Management Office at Learning Point Associates, a not-for-profit educational research company. He cofounded the Project Management Consortium that specializes in corporate transformations. A noted trainer andspeaker, he has addressed audiences at Project World, APICS, PMI, the Open Air Users Association, and others, and is a guest lecturer at DePaul University and the University of Illinois at Chicago. Gary S. Stetz, MBA, CPA, CFE, is a cofounder and partner in the firm of Stetz, Belgiovine, and Manwarren (SBM), an accounting firm specializing in accounting, taxation, management advisory services, financial planning, and litigation support services. Lynne M. Brooks, PMP, is a Client Training Manager at Sears Holdings Corporation in Hoffman Estates, Illinois. In her role at Sears, she manages a group of performance consultants who identify performance improvement solutions for the Home Services organization. She has successfully managed projects for clients ranging from Fortune 100 to startup companies within the petroleum, marketing, telecommunications, systems/software development, e-commerce, retail, and financial fields. She has a master's degree in instructional technology and attained certification as a Project Management Professional (PMP).
