Project audit & Evaluation

About the Program

A project audit entails examining the progress of your project and assessing whether everything is running as it should be. It’s a hugely beneficial way of maintaining your standards and checking where you can improve. It is an independent, structured assessment of the situation. By inference or extrapolation, it provides insight into the work needed to meet project objectives and the adequacy of the schedule and budget to do so. In addition, it can illuminate mistakes that can cause project failure and thus can trigger timely corrective action.

The program provides a basic understanding of the why, when, who, what, and how a project management audits will be discussed. Project management audits will be compared with normal supervision of project management, with reviews conducted for the stakeholders (whether internal or external), and with financial audits. Guidelines for choosing a qualified auditor, and a structured format is offered for preparing, performing, and reporting an audit will be presented.

By the end of this training, the participants will be able to understand about:

1. To equip internal auditors with professional skills of managing internal audit assignments more effectively and efficiently, by learning essential knowledge, skills, tools, and techniques
2. To recognize why auditing projects, fail
3. To list critical success factors for auditing projects
4. To identify different project management process groups
5. To list stages in the Project Management Life Cycle
6. To understand project management best practices and fundamental knowledge
7. To identify the scope of internal audit activities and develop overall internal audit scope baseline
8. To estimate relevant resources required for planned internal audit activities and develop overall internal audit schedule baseline
9. To determine internal auditing budget and develop overall budget baseline
10. To identify quality requirements required for internal audit activities for controlling and assessing
11. To conduct risk-based internal audit planning and develop relevant strategy relating scope, schedule, or budget as risk responses
12. To manage internal auditing’s communications and outsourced services and develop actions to mitigate changes to the baselines
13. To monitor and control the internal auditing activities to ensure execution within approved baselines