Project Accountant Interview Questions
1 of 31
1 of 31
How do you determine accurate labor costs for a particular employee that has worked on several projects?
User Submitted Interview Answers
Check the previous amounts he/she earned per hour add any increment as per contract he/she signed with the company then multiply with the number of hours he/she worked.
Labour is booked specifically to projects so this hasn't really been an issue I'm faced with. It's more the opposite problem that a project manager will assume they are getting 100% of someone's time and so does another but they don't necessarily compare their data. The is really difficult to spot but can usually be unearthed eventually by looking at the bookings and also by ensuring reviewers such as finance see projects in groups where the same people generally work.
I would have the employee breakdown how much time was put into each project to allocate the proper labor costs to each one. I think instilling time management skills in staff members is absolutely imperative when in project management. It not only informs the manager of employees progress but also gives the employee a visual tracker of progress made. Giving staff members a time budget also is helpful to both the staff member and the project manager.
On how much time she spent on each project.
This can be determined through the time cards of each employee or attendance sign in at the project site.
I will need to work out time spent on other projects. Work out the salary and apportion base on time spent on the project.
First I will check employee expence then will give him more than his expense so he can be motivated from us.
Time allocation or the level of effort against the total time spent in a day.
Time track data is the key and total employee cost and divide by projects.
I would establish a per hour rate and then do a percentage on that rate attributable to each project.