PROJECT AUDIT
A formal review of any aspect of a project.
An audit is a systematic, independent, documented assessment using standards and set criteria.
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Project Audit
A formal review of any aspect of a
project.
An audit is a systematic, independent,
documented assessment using standards
and set criteria.
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Purpose & Goals
Efficiency in meeting both the budget
and the schedule
Customer impact/satisfaction
Business/direct success
Future potential
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The Project Audit- Approach
The main purpose of an audit is to help
achieve the goals of the project
All facets of the project are studied
The strengths and weaknesses are
identified
Recommendations are prepared to help
current and future projects
5. Project auditing
Project auditing can be defined as the process
of detailed inspection of the management of a
project, its methodology, its techniques, its
procedures, its documents, its properties, its
budgets, its expenses and its level of
completion.
Project auditing can help you assess the
current state of a project, and tells you if your
project management processes are being
followed.
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Depth of the Audit
Time and money limit the depth of an
audit
Audits are distracting to those working on
the project
A poor audit result will lower morale on
the project
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Timing of the Audit
All significant projects should be audited
Larger projects may be audited several
times
An audit may also be conducted after the
project is over (post-project audits)
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Format and Use of the Audit Report
1. It should facilitate the comparison of
actual versus predicted results
2. Significant deviations should be
highlighted
3. Reasons for significant deviations
should be given
4. Plans for resolving negative deviations
should be discussed
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Responsibilities of the Project Auditor
Be honest and ethical
Be independent
Tell the whole truth
Seek help for technical issues
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The Project Audit Life Cycle
Project audit initiation
Project baseline definition
Establishing an audit database
Preliminary analysis of the project
Audit report preparation
Project audit termination
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Some Essentials of an Audit/Evaluation
Need to select an audit team with
experience and expertise
Auditors need access to top management
Auditors need access to project
personnel and others
Auditors need access to all records
15. Three phases
A project audit consists of three phases:
Phase 1: Success Criteria and
Questionnaire Development
Phase 2: In-depth Research
Phase 3: Report Development
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The Project Audit-outcomes
Current status of the project
Expected status of the project
Status of critical tasks
An assessment of potential risks
What lessons can be applied to other
projects?
What are the limitations of the audit?
18. Conclusion
The purpose of a project audit is to
identify “Lessons Learned” that can
help improve the performance of a project
or to improve the performance of future
projects by undertaking a forensic review
to uncover problems to be avoided.
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