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Project audit and closure
- 1. Project Auditing and Closure Presented by:- 1 Sanjay Vaij 2 Shashikant Rode 3 Chandrakant Mawale 4 Sachin kulkarni 5 Rakesh das
- 7. Project Audit Tasks 1. Evaluate if the project delivered the expected benefits to all stakeholders. Was the project managed well? Was the customer satisfied? 2. Assess what was done wrong and what contributed to successes. 3. Identify changes to improve the delivery of future projects.
- 8. Project Audit Step 1: Initiation and Staffing Step 2: Data Collection and Analysis Step 3: Reporting
- 9. Project Audit Report Actual vs. planned Schedule changes Nature of changes Progress of specific tasks Potential of failure Lessons learned Data assumptions
- 10. Audit Life Cycle Audit Initiation Baseline Definition Audit Database Preliminary Analysis Report Preparation Termination
- 11. Project Closure
- 12. Objectives Determine when to terminate a project Identify various reasons why a project is terminated Describe a project audit Identify a general project close-out checklist
- 13. Major Tasks of Project Closure 1. Evaluate if the project delivered the expected benefits to all stakeholders. • Was the project managed well? • Was the customer satisfied? 1. Assess what was done wrong and what contributed to successes. 2. Identify changes to improve the delivery of future projects.
- 14. Project Closure Types of Project Closure Normal Premature Perpetual Failed Project Changed Priority Close-out Plan: Questions to be Asked What tasks are required to close the project? Who will be responsible for these tasks? When will closure begin and end? How will the project be delivered?
- 15. Closure 1. Getting delivery acceptance from the customer. 2. Shutting down resources and releasing to new uses. 3. Reassigning project team members. 4. Closing accounts and seeing all bills are paid. 5. Evaluating the project team, project team members, and the project manager.
- 17. Creating the Final Report Executive Summary Project goals met/unmet Stakeholder satisfaction with project User reactions to quality of deliverables Analysis Project mission and objective Procedures and systems used Organization resources used Recommendations Technical improvements Corrective actions Lessons Learned Reminders Retrospectives Appendix Backup data Critical information
- 18. Project Performance Evaluations Reasons for Poor-Quality Project Performance Evaluations: Evaluations of individuals are left to supervisors of the team member’s home department. Typically measure team performance only on time, cost, and specifications.
- 19. Conducting Performance Reviews Begin by asking the individual to evaluate his or her own performance. Avoid drawing comparisons with other team members; rather, assess the individual in terms of established standards and expectations. Focus criticism on specific behaviors rather than on the individual personally. Be consistent and fair in treatment of all team members. Treat the review as one point in an ongoing process.
- 20. Retrospectives Lessons Learned An analysis carried out during and shortly after the project life cycle to capture positive and negative project learning—“what worked and what didn’t?” Goals of Retrospectives To reuse learned solutions To stop repetitive mistakes
- 21. Retrospectives (cont’d) Barriers to Organizational Learning Lack of post-project time for developing lessons No post-project direction or support for teams Lessons become blame sessions Lessons are not applied in other locations Organizational culture does not recognize value of learning
- 22. The Value of Retrospective Analyses Making Retrospectives Effective: Use an independent facilitator to guide the project team through the analysis project activities. Include a minimum of three in-process learning gates during the life project cycle. Designate a team member as owner for each point in the retrospective. Develop an easy-to-use learning repository to ensure future utilization of retrospective lessons. Mandate use of retrospectives as part of the normal process for all projects.
- 23. Any Questions?
- 24. Thank You
Editor's Notes
- Does the work actually completed match the planned level of completion? Are significant schedule changes likely? If so, indicate the nature of changes. What progress has been made on tasks that could decide the success or failure of project? What is the potential for project failure or monetary loss? What lessons learned from the project being audited can be applied to other projects being undertaken by organization? What assumptions or limitations affect data in audit? First audit should be done early and focused on technical issues. From then on audits may be done after major milestones (important to team). An audit at the end would be value to parent organization.
- Audit Initiation = id. Purpose and scope of audit and determination of methodology. Team should have access to all records and reports. Baseline = performance standards Database = accumulation of information Preliminary Analysis = compares gathered information to standards and judges project performance Report preparation = preparing audit report and recommendations for improvement Termination = review of audit process and recommendations for improvement Project audit is not like a financial audit. A financial audit is limited in scope and focuses of organization’s assets while a project audit is broader in scope and either deals with whole, partial, or individual component of project.