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All of the statements regarding control accounts and planning packages are true EXCEPT?

A. Planning packages reflect a future segment of work within a control account that has not yet been decomposed into detailed work packages B. A control account is an assigned WBS level used to monitor cost and schedule performance of significant element of work C. As work becomes more clearly defined, planning packages are converted into work packages D. Each work package / planning package may be associated with only one control account E. Control accounts and planning packages are tools / techniques of activity definition process

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Question ajoutée par Mohamed El Sayed , Project Manager , Saudi Post
Date de publication: 2014/04/12
Fredy Makram Labib
par Fredy Makram Labib , R&D manager , Universal for home appliances

E

Phyoei Phyu
par Phyoei Phyu , Senior Accoutant , MPT & KDDI

My opnion are the false statement regarding control accounts and planning packages is that control accounts are typically used for detailed project planning and tracking. In reality, control accounts are more commonly used for high-level project management and cost control, while detailed project planning is often carried out through work packages or planning packages. Control accounts serve as a summary level for monitoring and controlling project costs and schedules.

Zuber Alam Jamil
par Zuber Alam Jamil , Chief Financial Officer (cfo) , Rimjhim Group

For decision making its helpful

Nandika Ratnayake
par Nandika Ratnayake , Branch Manager , Commercial Bank of ceylon PLC

Exept for "D" other statements are true as per my knowledege. As planing packages may be associated with multiple accounts.

Syed Ali Basit Naqvi
par Syed Ali Basit Naqvi , Digital Marketing Manager , digital axio

Control accounts are summary accounts used to keep track of the total amount owed by or to all individual debtors and creditors in a company's accounting records. These accounts are usually maintained in the general ledger and provide a quick reference to the total balance of outstanding debts or receivables.

Aijaz Soomro
par Aijaz Soomro , FINANCE MANAGER , SAMI FOUNDATION

except D 

The statement that is not true is D. "Each work package/planning package may be associated with only one control account." This statement is incorrect because a work package or planning package can be associated with multiple control accounts

 

HARSH YADAV
par HARSH YADAV , Accountant , CA HARSH KESHARWANI & CO.

Yes all the statemens regarding control account are true. 

Stanley Mwangi  Stanley
par Stanley Mwangi Stanley , Procurement Officer , Ziara

  D. Each work package / planning package may be associated with only one control account 

fizzah sheikh
par fizzah sheikh , Senior Accounts Officer , nj advertising

E. Control accounts and planning packages are tools / techniques of activity definition process

Samuel Anim Ofori
par Samuel Anim Ofori , Mathematics Teacher , Ghana Education Service

D. False: To every credit entry, there is a corresponding debit entry so each work package planning/planning package must reflect in both debtors and creditors control account.

Anna Spivak
par Anna Spivak , Compliance Executive (Manager) , LALIRA DMCC (QIWI plc - subsidiary in Dubai)

The answer is A: As work becomes more clearly defined ,planning packages are usually converted into work packages

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