Project Audit

By:
Ishika Sharma
Sonali Rawat
Siya Negi
Twinkle Bawania
Project Audit

A formal review of any aspect of a project.

An audit is a systematic, independent, documented
assessment using standards and set criteria
 Purpose & Goals

Efficiency in meeting both the Customer impact/satisfaction Business/direct success Future potential
budget and the schedule
 The Project Audit- Approach

The main purpose of an

All facets of the project are
audit is to help achieve the
studied
goals of the project

Recommendations are
The strengths and
prepared to help current and
weaknesses are identified
future projects
 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
Benefits • A project audit provides an opportunity to uncover the issues,
concerns and challenges encountered in the execution of a project
• If done at the close of a project, a project audit can be used to
develop success criteria for future projects by providing a forensic
review.
• General Audit
• Detailed Audit
• Technical Audit
 •1. Introduction
•2. Current status
•3. Future project status
•4. Critical management issues
•5. Risk management

Audit Information •6. Caveats, limitations, and assumptions

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
 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
Three phases A project audit
consists of Three Phase

Phase 1: Success Criteria and Questionnaire

Development
Phase 2: In-depth Research
Phase 3: Report Development
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.