Project Management Analysis: Implementing QuickBooks Software

This project focuses on the implementation of QuickBooks accounting software within an organization to enhance accounting standards and efficiency. The project management plan encompasses project initiation, planning, execution, monitoring, and closure, utilizing tools like Teamdeck, Trello, Asana, and Nifty, each evaluated for their strengths and weaknesses in the context of the project. A risk management process is applied to identify, analyze, prioritize, and monitor potential risks associated with the implementation, ensuring proactive mitigation strategies. The aim is to successfully integrate the software, improve accounting efficiency by 10%, understand its various uses in international business, and recommend strategies for enhancing accounting practices, ultimately concluding that the project facilitates better accounting management in international business.

Individual Review
Component 3

TABLE OF CONTENTS
OVERVIEW....................................................................................................................................3
MAIN BODY..................................................................................................................................3
Aims and Objectives....................................................................................................................3
Project Management Plan............................................................................................................3
Use of project planning tools with their strengths and weaknesses.............................................7
Application of risk management process.....................................................................................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

OVERVIEW
The topic of the real-life project is on the introduction of accounting software known as
QuickBooks Accounting in an organization. QuickBooks accounting software is a tool of
accounting which helps the business to work with international accounting standards. This is also
the software which is helpful for the organization in the management of the accounting rules and
regulation of different countries. Hence, this project will focus on introducing the accounting
software for better accounting practices of the project management.
MAIN BODY
Aims and Objectives
Aims :
The aim of this project is to introduce an accounting software in the name of QuickBooks
for establishment of accounting standards.
Objectives :
 To successfully implement the accounting software in the organization.
 To increase the accounting efficiency with 10% in the organization.
 To understand the different uses for QuickBooks accounting software in the international
business.
 To recommend strategies for improving accounting practices with the use of QuickBooks
software.
Project Management Plan
Project management plan is a formal document which defines how the project is carried
out and is considered to be the outline of the scope, goals, budget, timeline and deliverables. The
project management plan is very essential for the project for the achievement of the Aims and
Objectives. This plan consists of the following,
PROJECT SCHEDULE

GANTT CHART
NETWORK DIAGRAM

Task
Mode Task Name Duration Start Finish Predecessors
Auto
Schedul
ed
Project Initiation 19 days Fri 3/11/22 Wed 4/6/22
Auto
Schedule
d
Selection of Software 5 days Fri 3/11/22 Thu 3/17/22
Auto
Schedule
d
Aims and Objectives 6 days Fri 3/18/22 Fri 3/25/22 2
Auto
Schedule
d
Budget 8 days Mon 3/28/22 Wed 4/6/22 2,3
Auto
Schedul
ed
Project Planning 30 days Thu 4/7/22 Wed 5/18/22
Auto
Schedule
d
Development of team 10 days Thu 4/7/22 Wed 4/20/22 4
Auto
Schedule
d
Purchasing software 5 days Thu 4/21/22 Wed 4/27/22 6
Auto
Schedule
d
Documentation 15 days Thu 4/28/22 Wed 5/18/22 6,7
Auto
Schedul
ed
Project Execution 36 days Thu 5/19/22 Thu 7/7/22
Auto
Schedule
d
Division of work 10 days Thu 5/19/22 Wed 6/1/22 8
Auto
Schedule
d
Assigning resources 6 days Thu 6/2/22 Thu 6/9/22 10
Auto
Schedule
d
Transferring existing data 20 days Fri 6/10/22 Thu 7/7/22 10,11
Auto
Schedul
Project Monitoring 41 days Fri 7/8/22 Fri 9/2/22

ed
Auto
Schedule
d
Hiring Accounting
Experts 30 days Fri 7/8/22 Thu 8/18/22 12
Auto
Schedule
d
Performing Audits 5 days Fri 8/19/22 Thu 8/25/22 14
Auto
Schedule
d
Analysing Risk 6 days Fri 8/26/22 Fri 9/2/22 14,15,12
Auto
Schedul
ed
Project Closure 10 days Mon 9/5/22 Fri 9/16/22
Auto
Schedule
d
Creating modification 8 days Mon 9/5/22 Wed 9/14/22 15,16
Auto
Schedule
d
Submitting Financial
Reports 2 days Thu 9/15/22 Fri 9/16/22 18
WORK BREAK DOWN STRUCTURE
WBS
Project Initiation
Aims and
Objectives
Selection of
Software
Budget
Project Planning
Development of
team
Purchasing
software
Documentation
Project Execution
Division of work Assiging
resources
Transfering
existing data
Project
Monitoring
Hiring
Accounting
Experts
Performing
Audits
Analysing Risk
Project Closure
Creating
modification
Submitting
Financial Reports

Use of project planning tools with their strengths and weaknesses
Project planning tools are software which are known for being used for the preparation of
the project management (10 Best Project Planning Tools & Software List [2022], 2022) These
tools are very essential for the creation of the project as they have the features which are required
to complete the essential needs of the project topic. Our project is about the implementation of
accounting software in the international business. This will require the use of project
management which will consider the key practices that are related to the growth of the
organization.
Teamdeck :
This is a project planning tool which focuses on the team members and their capacity for
the tasks of them for giving a bigger picture for the application of the work ( Li, Hao and
Chabane, 2021). This helps the project in the planning of new project. Yet another feature of this
tool is the execution reporting which will be very essential for the project of accounting software.
Strengths Weaknesses
The approach used in this project planning tool
works very effectively with the actual
conditions.
This tool is not very effective for smaller
project.
This is considered to be helpful for avoiding
the scheduled conflicts.
This tool is more focused towards group work
rather than individualistic project.
Trello :
This project planning tool allows the creation of boards and fills them for different lists. It
is considered to be helpful for the creation of correspondent with the statuses (Vujović and et.al.,
2020). It is a software which helps in the creation of more granular tasks. This can be used for
the preparation of the accounting project however it will take longer.
Strengths Weaknesses
It helps in attaching to cards for better It requires high amounts of input for providing

communication. the desired results.
It has an automated task management process
with already given project templates.
Not so useful for large size projects
Asana :
This is one of the best project planning tools as it is able to manage projects with
different sizes. This is considered to be the software for the management of the project of various
sizes and is helpful for the free version comes with the limited features (Damayanti, Wijaya and
Hartono, 2019). It is also considered to be suited for the smaller projects. It is very compatible
for the project planning tool which allows the learning practices of the project planning tools.
Strengths Weaknesses
This tool is specially useful for planning
milestones and deadlines.
There is lack of flexibility in the project
planning tool.
It shows the actual time differences between
the due dates.
It does not allow the establishment of project
in different due dates.
Nifty :
This is the tool that allows the business in the creation of collaborative aspect which is
supported by the facts. This tool is helps in the modification to be made even on the Gantt chart.
It is a very flexible project planning tools that allows different kinds of modification. It is known
to be the best type of tool for agile methodology in project planning. Nifty is the tool which has
the best features for the project with account specific tools.
Strengths Weaknesses
This planning tool for project management is
known for its editable Gantt Chart.
It works best with Agile methodology but is
not so effective for other project methodology.
It allows the users to create board and columns
from the scratch or in between.
It is one of the most complex project planning
tool due to number of features it has.

Application of risk management process
The Risk Management process is the identification and analysation of the risks which
arises during the preparation of a project. It helps in analysing whether the project is on the right
track or not. This process of managing risk isn't just reactive it is also the part of the planning
process. It helps in figuring out the project and the ways in which they are controlled. It is also
able to understand the risk factor and that occurs during the management of the organizational
operations.
The application of the risk management process for the introduction of accounting
software will also require the development of a project vision, objectives, scope and deliverables.
This is essential for the ways in which the project identifies the risk and is able to engage with
the team in the early identifying stages of the risks (Ullah and et.al.,2021). For this process the
identification of the both Positive and Negative risks to the project is needed. These risks are
helpful for finding the key ways of risk mitigations. Following are the steps which are followed
in the Risk Management Process,
Identifying ;
Unless and until the risk of a project is identified it is not possible to plan the ways in
which they will be resolved. Therefore, the first step is to identify the risk which is through the
risk register.
Analyse :
Once the risk is identified by the project then it is important for the project to understand
the key risk factors. The risk is then studied and analysed to understand all about the risk. It is
also essential for addressing the major impacts of avoiding litigation and addressing regulatory
issues.
Prioritize :
There can be many risks which are identified this is the stage in which the project
prioritizes the different risks (Samimi, 2020). This is one basis of the threat of loss they can
create to this project.
Ownership :
To each and every risk that is identified there is a factor attached to it. It is considered to
be the very important for the project to understand the departments which is responsible for the
risk.

Respond :
Effective measures are needed to be taken for the mitigation of the risk which can be
done through efforts such as, resolving risks, dissolving risks, transferring risk and managing the
risks.
Monitor :
The monitoring of the risks is considered to be the factor which affects the future
occurrence of the risks with relations to the project (Dicuonzo and et.al., 2019). It can be
considered to be the factor which influences the growth of the risks. This allows the risks to be
managed in the relation to the project of accounting software.
CONCLUSION
From the above project it can be concluded that the project related to the installation of the
new accounting software known as QuickBooks in the organization for better accounting
management in the international business.

REFERENCES
Books and Journals
Damayanti, R.W., Wijaya, A.R. and Hartono, B., 2019, August. Seven Management and
Planning Tools in Megaproject Management: A Literature Review. In IOP Conference
Series: Materials Science and Engineering (Vol. 598, No. 1, p. 012014). IOP
Publishing.
Dicuonzo, G., and et.al., 2019. Risk management 4.0: The role of big data analytics in the bank
sector. International Journal of Economics and Financial Issues. 9(6). p.40.
Li, Y., Hao, J.K. and Chabane, B., 2021. User project planning in social and medico-social
sector: Models and solution methods. Expert Systems with Applications. 173. p.114684.
Samimi, A., 2020. Risk Management in Oil and Gas Refineries. Progress in Chemical and
Biochemical Research. 3(2). pp.140-146.
Ullah, F., and et.al.,2021. Risk management in sustainable smart cities governance: A TOE
framework. Technological Forecasting and Social Change. 167. p.120743.
Vujović, V., and et.al., 2020. Project planning and risk management as a success factor for IT
projects in agricultural schools in Serbia. Technology in Society. 63. p.101371.
Online
10 Best Project Planning Tools & Software List [2022], 2022 [Online]. Available through: <
https://thedigitalprojectmanager.com/tools/project-planning-tools/ >
[Online]. Available through: <>