Management Accounting and Cost Control in Project Management

The relevance of the study. In modern conditions, information support of the management process has become especially important, which consists in obtaining and processing information necessary for making informed management decisions. Today, one of the main functions of accounting services is the information support of projects implemented at the enterprise. The purpose of the article is to consider how proper cost planning and control can contribute to the effective implementation of the planned project. The results of the study. The article describes the specifics of project management, in particular, managing its cost from the moment of planning, by developing a project budget together with estimated project costs until its implementation and completion, associated with the calculation of the planned project budget. The areas that require attention before starting the project are indicated. In addition, it is shown how proper planning and effective control at each stage of the project implementation support the process of project cost management and ensure effective project management. The most popular methods of accounting for project costs are presented to obtain information about the success or failure of the project. Conclusions of the study. Due to reliable planning and constant control of project costs, there is a high probability of success in the implementation of a specific project. A key factor in the implementation of any project is a properly structured project budget, which must subsequently be implemented consistently and in compliance with cost discipline.

project costs, cost accounting, project management, cost control, budgeting