Control Account and Code of Account Identifier

Submitted by vb5 on Tue, 06/18/2013 - 02:47

 Hi,

 

I was reading PMBOK. The WBS section explains Control Account and identifier. However, can anyone provde me more details on the significance of control accounts and identifier. How do I use these in the project management.

 

Thanks

-vb 

Forums: 
General Discussion
  • Log in to post comments
  • 968 reads
cnppmp's picture

cnppmp

Tue, 06/18/2013 - 08:16

Control account creation in
Submitted by cnppmp on Mon, 06/17/2013 - 16:08.
Control account creation in final stage of WBS finalization.


Each control account can have one or more work packages assigned but multiple control accounts cannot be assigned to one Work package.


It is unique identifier, the financial maangement team uses the control account for control and reporting purpose. The scope, cost and schedule information are intergrated & tracked through the control account and EV reproting is done through control account.


WBS component used for project cost accounting


In the cost aggregation the highest level aggretaion is at Control account level, the next is cost baseline creation with contingency reserve adding to the aggregated cost.


 


Regards


CN Patil