PROJECT AUDITING AND
PROJECT AUDITING AND
Validate and Assess
Projects are approved and funded on the basis of (1) Their anticipated Benefits and (2) Expectations regarding Cost and Time required in executing the projects and obtaining those benefits. Benefits might include faster time to market, more efficient and less costly processes, increased outputs, or an improved product.
Associates provides Project and corporate management with an unbiased review, assessment, and revalidation of (1) Business purpose, and (2) Performance consistent with defined success metrics. This revalidation of a Project’s purpose and an assessment of its Performance or ‘Health’ is performed with but independent from the project’s management team.
- Re-validate the Project’s Purpose and Business Drivers
- Validate ROI and compliance with Business Benefits Model.
- Ensure that decisions and strategies made to accommodate project success are not in conflict with Program or Corporate goals.
- Comparison of current market, technological, or economic conditions with those used in modeling the business need and as the basis of calculating project value.
- Affirm that the Project Value Tree is consistent with the Corporate Value Tree.
- Assess the Project’s Performance
- Validate the basic assumptions used to develop the Estimate and Schedule.
- Perform comparative reviews of estimates and execution plans to industry standards and to similar projects.
- Validate that Project performance information provided to management is accurate and timely.
- Confirm that the Cost to or at Completion is accurately forecast.
- Confirm that the Time to or upon Completion is accurately forecast.
- Identify ‘root causes’ for performance failures.
- Identify Risks to success that have not been identified and for which no Risk Management Strategy exists.
Evaluate the sequencing and durations of tasks for the work is reasonable and investigate opportunities for work operations to be performed more quickly or concurrently.
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