ACC 312 Study Guide - Midterm Guide: Sensitivity Analysis
Document Summary
Once a project has been appraised and a sensitivity analysis carried and the approval has been given at the relevant level in the organisation, project controls must be established and then post project completion audits carried out. The controls cover the three main areas of: capital spend - note the number of subjective areas where things can go wrong. Project timing - delays appear to (cid:271)e (cid:858)routi(cid:374)e(cid:859) i(cid:374) (cid:373)a(cid:374)y (cid:373)ajor proje(cid:272)ts as evidenced almost daily in the financial press. Benefits - evidenced almost as frequently in the financial press, this is another area where things may not turn out as planned. To establish the appropriate levels of control, the appointment of a good project manager with the appropriate level of responsibility and authority, together with regular project reviews, are absolute essentials to ensure that projects run to plan. A good project manager in place cannot be over-emphasised.
