Project Management Accounting: Budgeting, Tracking, and Reporting Costs and Profitability

Over the past few decades, Project Management has shifted from its roots in construction and defense into mainstream American business. However, many project managers' areas of expertise lie outside the perimeters of business, and most do not have the formal education in business, accounting, or finance required to take their skills to the next level. In order to succeed, today's project managers (PMs) who wish to soar to the top or remain at the helm of their profession need to have a comprehensive grasp of the business context within which they work. Providing a resourceful introduction to the interrelationships between finance, accounting, and Project Management, Project Management Accounting, Second Edition is designed to help PMs at various skill levels improve their business skills, provide advanced contributions to their organizations, and perform with greater proficiency.

Authors and industry experts Kevin Callahan, Gary Stetz, and Lynne Brooks combine their decades of Project Management experience and insights to provide professionals in the field with a 360-degree understanding of how costs interact with the general ledger. Through the authors' seasoned expertise, PMs are better equipped to assess all facets of a project with a broader understanding of the "big picture" to determine whether to continue as planned, find an alternative solution, or scrap the project altogether.

Rich with new content as well as many new case studies, this Second Edition of Project Management Accounting includes:

• Updated information on Project Management and its link to Project Accounting
• A new chapter on assessing risk when managing projects
• How to determine the greatest tax/cost savings
• Project Management in relation to a company's mission, objectives, and strategy
• Project Management in an agile business
• Coverage of agile Project Management as applied to software and technical projects
• New, updated, and timely case studies
• Sample checklists to help readers get started and apply concepts to their business

Project managers must make vital decisions every day that impact the schedule, costs, or resources committed to a given project. Project Management Accounting, Second Edition, provides the tools and skills to help PMs establish with greater certainty whether these costs should be capitalized or expensed to stay on budget and improve a company's bottom line.

KEVIN R. CALLAHAN, MBA, PMP, is the founder and Chief Bulldog at The COO's Bulldog, where he specializes in helping small companies find and fix problems in their operations and entrepreneurs build their back offices.

GARY S. STETZ, MBA, CPA, CFE, CFF, ABV, is the cofounder and partner of Stetz, Belgiovine, and Manwarren (SBM). Mr. Stetz is also a director and cofounder of Allegiance Community Bank.

LYNNE M. BROOKS, PMP, is an Education Manager in the Education and Publications Group at the College of American Pathologists where she applies Project Management in developing Continuing Medical Education for physicians.