This report discusses the importance of project management in successfully implementing a new IT system project. It highlights the need for monitoring and appraising the status of the project using methods such as Gantt charts, identifying and managing issues that arise during the course of the project, and assessing tasks needed to be completed in the final stage. The report also emphasizes the significance of evaluating and analyzing risks and uncertainties associated with the project at various stages, and discusses the importance of using techniques such as WBS, AB Costing method, and risk assessment to mitigate these risks.