This document discusses scientific management and efficiency in professional project management. It provides an overview of Frederick Taylor's principles of scientific management, which aim to maximize efficiency by breaking down jobs, timing tasks, eliminating unnecessary steps, and incentivizing workers to meet optimal times. The document also discusses how timesheets are critical as pricing, cost accounting, efficiency measurement, and project management tools. It provides examples of efficiency metrics like budget at completion, actual costs, planned value, earned value, cost variance, and performance indexes. Finally, it promotes the Leadership Education for Accounting Professionals program for continuing professional education.