Hi Jay,
Both large scale projects, such as building a factory, and small-scale projects, such as organizing a trade fair, require precise planning of the many detailed activities involved. The project manager has the job of ensuring that the project is executed efficiently, on time, and within budget - which he or she achieves by ensuring that the required resources and funds are available as and when needed.
Projects are generally part of the internal processes of a company. To be able to control all tasks in project execution, you need an organizational form that is specific to the project and which is shared by all departments involved. Before you can carry out a project in its entirety, the project goals must be precisely described and the project activities to be carried out must be structured. A clear, unambiguous project structure is the basis for successful project planning, monitoring, and control.
You structure your project per the following points of view:
By structures, using a work breakdown structure (WBS)
By process, using individual activities (work packages)
Project managers usually distinguish between two types of project:
Externally financed projects
Customer projects
Internally financed projects
Overhead cost projects
Capital investment projects
The common understanding between the PS and AA is that an asset is created once a project is completed successfully.
The high degree of integration between the Project System (PS) and other R/3 application components means that you can plan, execute, and account for projects as part of your normal commercial procedures. This means the Project System has constant access to data in all the departments involved in the project.
Hope this helps.
Rgds
Manish
Bluesky
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