The project audit assesses the overall health of the project rather than just the source code, cost figures, etc.
Project Audit broadly covers:
- Auditing the financial performance and financial reporting of projects
- Auditing conformance to project management and other rules, standards and guidelines.
Our objective is to assess project information before, during or at the close of a project to determine what will make (or has made) the project successful.
The auditor performs the audits by examining the project-related documentation and by interviewing appropriate personnel.
Depending on the project's life cycle, two or more of the following four types of project audits can be performed.
- Full Audit
- Post Project Audit
Once the findings are prepared and reviewed, a detailed action plan is developed for implementation by the audited project's manager.
- Independent evaluation of project management performance
- Identification of project management related risks for new or active projects
- Specific action plan for each audited project
- Improved likelihood of project success