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Project
Audit and
Closure
IRL6050-A:
PROJECT
MANAGEMENT
IN
INTERNATION
AL RELATIONS
To understand the process
of project audit
To recognize the value of
an audit to project
management
To determine when to
terminate a project
To identify various reasons
why a project is terminated
To identify checklist
Objectives
What is an audit?
Management
Methodology and
procedures
Records
Properties
Budgets and
expenditures
Degree of completion
Project
Audit
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.
Project
Audit
Tasks
Project
Audit
Step 1: Initiation
and Staffing
Step 2: Data
Collection and
Analysis
Step 3: Reporting
Actual vs. planned
Schedule changes
Nature of changes
Progress of specific
tasks
Potential of failure
Lessons learned
Data assumptions
Project
Audit
Report
1.Does the work actually completed
match the planned level of
completion?
2.Are significant schedule changes
likely? If so, indicate the nature of
changes.
3.What progress has been made on
tasks that could decide the success
or failure of project?
4.What is the potential for project
failure or monetary loss?
Project
Audit
Report
cont.
5. What lessons learned from the
project being audited can be
applied to other projects being
undertaken by organization?
6. What assumptions or limitations
affect data in audit?
7. 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.
Project
Audit
Report
cont.
Audit Initiation
Baseline Definition
Audit Database
Preliminary Analysis
Report Preparation
 Termination
Audit
Life
Cycle
Audit Life Cycle
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
NB: 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.
 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
Reasons for
Termination
By Extinction
By Addition
By Integration
By Starvation
Project
Closure
Normal
Premature
Perpetual
Failed Project
Changed
Priority
Conditions
for
Closure
Project
Closure
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?
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.
Closure
Ensure completion of work
Notify essential contacts of project
completion
Ensure documentation is complete
Clear final billings and oversee
preparation of final invoices,
paperwork, etc.
Redistribute resources
Ensure proper storage and
distribution of documents
Ascertain product support
requirements
Oversee closing of project
notebook and other books
Primary
Duties of
Project
Leader

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Final Class Presentation on Project Audit and Closure.ppt

  • 2. To understand the process of project audit To recognize the value of an audit to project management To determine when to terminate a project To identify various reasons why a project is terminated To identify checklist Objectives
  • 3. What is an audit? Management Methodology and procedures Records Properties Budgets and expenditures Degree of completion Project Audit
  • 4. 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. Project Audit Tasks
  • 5. Project Audit Step 1: Initiation and Staffing Step 2: Data Collection and Analysis Step 3: Reporting
  • 6. Actual vs. planned Schedule changes Nature of changes Progress of specific tasks Potential of failure Lessons learned Data assumptions Project Audit Report
  • 7. 1.Does the work actually completed match the planned level of completion? 2.Are significant schedule changes likely? If so, indicate the nature of changes. 3.What progress has been made on tasks that could decide the success or failure of project? 4.What is the potential for project failure or monetary loss? Project Audit Report cont.
  • 8. 5. What lessons learned from the project being audited can be applied to other projects being undertaken by organization? 6. What assumptions or limitations affect data in audit? 7. 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. Project Audit Report cont.
  • 9. Audit Initiation Baseline Definition Audit Database Preliminary Analysis Report Preparation  Termination Audit Life Cycle
  • 10. Audit Life Cycle 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 NB: 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.  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
  • 11. Reasons for Termination By Extinction By Addition By Integration By Starvation
  • 13. Project Closure 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?
  • 14. 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. Closure
  • 15. Ensure completion of work Notify essential contacts of project completion Ensure documentation is complete Clear final billings and oversee preparation of final invoices, paperwork, etc. Redistribute resources Ensure proper storage and distribution of documents Ascertain product support requirements Oversee closing of project notebook and other books Primary Duties of Project Leader