Project Managemetn Review Questions and Exercise Essay Example

Review Questions and Exercise 14-R1 How does the project audit differ from the performance measurement control system discussed in Chapter 13? While project audits use performance measures and forecast data, they are generally more inclusive than the performance measurement control system discussed in Chapter 13.

Project audits include a review of why the project was selected, a reassessment of the project’s role in the organization’s priorities, a check on the organizational culture, an assessment of team performance, lessons learned, and a check on external factors that might affect the project direction or importance. A project audit is intended to include all factors relevant to the project and managing future projects. 14-R2 What major information would you expect to find in a project audit?

I would expect a project audit to include the following information:

• Classification of the project by characteristics such as type (development, marketing, systems, construct
  ...

  ion, etc. ), budget size, number of staff involved, technology level, strategic or support, etc.

• Succinct analysis of information gathered including project mission and objectives, procedures and systems used, organization resources used, etc.
• Recommendations for major corrective actions that should take place.
• Lessons learned.

An appendix including backup data or details of the analysis.

• Why is it difficult to perform a truly independent, objective audit?

It is difficult to perform a truly independent, objective audit because the very nature of auditing makes it predisposed to bias. In many cases, those performing the audit have prior knowledge of the project which may color their recommendations. Internal politics may affect decisions regarding project closure. Making audits standard procedure for all projects in the organization can reduce the negative stigma associated with project auditing.

• What are