Project Management Tools and Techniques for Accounting Software

This report delves into the application of various project management tools and techniques, focusing on their practical use in a real-world scenario: the implementation of new accounting software within a firm. The report begins by identifying and describing project planning tools, such as Gantt charts, Work Breakdown Structure (WBS), and the Critical Path Method (CPM), explaining their importance in project scheduling, task sequencing, and resource allocation. It summarizes the outline WBS and Gantt project structure, providing a visual representation of the project's scope and timeline. The report also outlines a budget template, demonstrating how to estimate and manage project costs effectively. Furthermore, it emphasizes the significance of planning for project closure, detailing two ways a post-implementation review can improve future projects. The Balanced Scorecard (BSC) is summarized, showcasing how to measure project performance across multiple dimensions. Finally, the report explores potential issues arising from inadequate project closure and suggests resolutions, using examples from the provided readings and personal experience to support the analysis. The report aims to provide a comprehensive overview of project management best practices, with a focus on practical application and successful project delivery.

Running head: PROJECT MANAGEMENT
Project Management Tools and Techniques
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Initial post
In this new era most of the projects are failing to meet preliminary objectives due to lack
of operational and functional activities. The aim of the project manager is to use appropriate
project management tools and techniques to ensure that the project is successfully accomplished
within assigned timeline and budget. For a successful project delivery selection of appropriate
project management tool is much essential. The way through which a project is managed,
defined using project management tools and techniques.
Within a nutshell project supervisor and the team associates will never go wrong with
few of the traditional project management methodologies and techniques regardless of type,
nature and size of project. If associates work effectively on complex, long term software
development projects then project associates can adopt suitable scrum or XP to boost up the
productivity even more. There are three different project constraints on terms of time, budget and
scope that are individually required to be assumed and measure project success and failure.
The different managing tools and techniques that are widely used by project team
associates that include Gantt chart, WBS, and Critical Path Method etc. Decision Support System
and Multidimensional project performance measurement system are the techniques widely used
by different project supervisors and associates to meet project objectives within assigned
timeline and budget.
Gantt chart is referred to as a project tracking tool that can govern and lead any project
towards expected goals and objectives. A Gantt chart shows sequence of related project activities
and their inter relationship. PM helps the stakeholders to understand the elements those are

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essential for project completion. Not only this but also PM tools and technique is used to
improve the process of communication. The tool defines the overall project schedule and both
the physical and human resources assigned to each task or activity. The tool motivates the project
team associates to keep them engaged to the primary job responsibilities and roles. Gantt chart
also gives opportunity to become creative as well. Above all this Gantt chart can be used as a
resource scheduler that helps to reduce the issues related to overburden causing activities. Gantt
chart increases the work efficiency, reliability, security, manageability and accountability as
well.
On the other hand, the WBS is used to design and implement the activity hierarchy and
workflow details. The tool helps to define and organize the work flow required for successful
accomplishment of an activity. The approach gives a visual representation of an entire work
scope statement. In order to identify the points of communication, important project deliverables
and resource allocation details with the work Breakdown Structure (WBS). The way through
which the project cost can be estimated is also measured with the help of Gantt chart and WBS.
CPM is used by the project associates to understand the shortest path followed by which project
objectives can be easily reached.
The budget for any project is calculated or measured after conducting a feasibility
analysis. The result of the feasibility analysis defines whether the project will be successful one
or not. Gantt chart can assist with accurate resource allocation and provides brainstorming and
collaboration. The tool provides an opportunity to engage a team.

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Bibliography
Heldman, K. 2015. PMP project management professional exam deluxe study guide: updated for
the (2015) Exam. John Wiley and Sons.
Kerzner, H., and Kerzner, H. R. 2017. Project management: a systems approach to planning,
scheduling, and controlling. John Wiley & Sons.
Marcelino-Sádaba, S., Pérez-Ezcurdia, A., Lazcano, A. M. E., and Villanueva, P. 2014. Project
risk management methodology for small firms. International Journal of Project
Management, 32(2), 327-340.
Mir, F. A., and Pinnington, A. H. 2014. Exploring the value of project management: linking
project management performance and project success. International journal of project
management, 32(2), 202-21.