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Financial cycles vary from company to company. Nevertheless, accounting charts of accounts, income and expense statements, statements of sources and uses of funds, cash flow statements, among others, can support decision-makers in guiding the company. But how long does a manager need to wait to have them all at hand? It depends on the operational plan and, in addition, several strategic projects may be underway. 

The Statement of Changes in Equity (DOAR) may contain the accounts for the application of resources that express ongoing strategic projects. On the other hand, the trial balance may include income statement accounts that reflect ongoing projects. Furthermore, the cash flow statement may include the cash generated from the projects (IUDÍCIBUS, MARION; 2011) . However, decision-making regarding the execution of a project requires well-defined criteria. 

In predictive projects, the focus is on meeting the initial plan (scope, time, and cost). Earned Value Management (EVM) is the gold standard here. Added to this are Schedule Variance (SV) and Cost Variance (CV), the Schedule Performance Index (SPI) which indicates time efficiency, and the Cost Performance Index ( CPI ) which indicates financial efficiency. The percentage of completion represents a simple comparison between physical progress and elapsed time. Added to this are risk indicators and communication effectiveness (FILHO, 2010). 

Regarding Agile methodologies, the focus shifts from "planning" to "flow" and "continuous value delivery." It allows for the utilization of the amount of work (usually in Story Points) that the team delivers, the amount of work remaining versus the available time, and the... Cycle Time, or the total time from order creation to final delivery to the customer ( Lead Time), and the Cumulative Flow Diagram (CFD), among others (HIGHSMITH, 2012) . 

Comparing the waterfall model and agile methodologies is a natural progression. In the traditional or predictive model, the focus is on analyzing variation against the budget, with a fixed scope where changes generate costs or may be within the reserve, and financial risk can be analyzed throughout the entire project. In the agile context, the focus is on analyzing value versus investment, the variable scope prioritizes what adds the most value, and risk is analyzed with each delivery. If the scope is open, it allows the use of cost per story point , as it provides a metric of the project team's efficiency. 

There are umbrella metrics that can encompass agile and/or waterfall projects. ROI (return on investment) translates the financial profitability of the project. NPS (net promoter score) portrays customer or stakeholder satisfaction with the deliverable. Time to Market describes how quickly the product reaches the market. Product Backlog Burnup charts show progress in relation to the overall project scope, among other things. 

There are also project analysis models called deterministic models. These models compare the cash flows generated with the investment made. Key examples include payback period , net present value (NPV), internal rate of return (IRR), and profitability index (ZOTES et al.) . all , 2013) 

The analyses may also include the study of the break- even point (Formula: ( Fixed Operating Costs + Strategic Project Fixed Costs / contribution Margin The ratio ) and the calculation can, for example, indicate the sales volume needed to cover both normal operations and investment in projects. The Break-even Point  also he can to be Consolidated ( formula : Fixed Costs / (Contribution Margin / Net Revenue)). Another alternative includes project provisions, which are different from common expenses and can be recorded when there is a present obligation (formalized by the project), or when an outflow of resources is probable in the future and there are reliable values such as contractual penalties and team demobilization costs. Additionally, the organization must assess whether it is feasible to make the accounting entries (debit and credit) for recording these project provisions. 

In the context of projects, program and portfolio management can include the development of dashboards that briefly map the status of a set of projects. The indicators on these dashboards vary for each organization, program, or portfolio. However, it is possible to analyze the inclusion of the Burn Rate, which measures how much money the team consumes per unit of time, the Story Point Cost , or how much each unit of effort cost the organization ( drill) . down ), a Business Value that helps ensure the team is working on what is most profitable first (Pareto), optimizing financial return even before the project is finished. 

No less important than the previous indicators, EBITDA ( Earnings) stands out in accounting systems. Before Interest , Taxes, Depreciation , and (Amortization ). Its calculation is more complex because it depends on a series of assessments and entries such as depreciation and amortization. For projects, adjusted EBITDA is used, which allows isolating the impact of non-cash provisions to understand the real cash generation of a strategic project (IUDÍCIBUS, MARION; 2011). Project provisions also affect EBITDA because it is an operating expense provisioned on an accrual basis, reducing its value. 

The incremental ROI is added, reflecting the deliverables and /or progress of the project, not just the end result: the revenue or savings generated by the functionalities delivered, considering the accumulated cost to date . Another important indicator for monitoring dashboards is the cost ... of Delay measures the financial impact of not delivering a feature by a specific date. It is vital for prioritizing the backlog based on potential financial losses. Equally important is budget monitoring, provided a trend line is evaluated. 

Mapping these indicators is not trivial, but it allows us to understand the health of projects at both the operational and tactical levels. If the project is strategic, the analysis requires focused effort and attention on the accurate calculation of EBITDA, in addition to accounting statements that can be compared with project management dashboards monthly. 

(FILHO , 2010) FILHO, Armando Terribili , 2010. Project Management Indicators. Continuous Monitoring , 2010, M. Books, São Paulo, ISBN 978-85-7680-087-3. 

(IUDÍCIBUS, MARION; 2011) IUDÍCIBUS, Sérgio de; MARION, José Carlos. Accounting Course for Non-Accountants , 2011, Editora Atlas, São Paulo, ISBN 978-85-224-6287-2. 

(ZOTES et (all , 2013) ZOTES, LP; SPRITZER, IM de PA; PAULO, GP; REGO, RB Economic and financial viability of projects , 2013, FGV Editora, São Paulo, 4th ed, CDD- - 658.404. 

(HIGHSMITH, 2012) HIGHSMITH, J. AGILE PROJECT MANAGEMENT , 2012, ALTA BOOKS EDITORA, RIO DE JANEIRO, CDU. 004.413.