Project audit

A project audit is the analysis of the progress of a project .

The aim of a project audit is to determine to what extent the project is on schedule and which measures must be taken to ensure the success of the project.

The project audit is divided into phases:

1. Determination of the previously approved project planning with the schedule, cost and performance planning
2. Determination of the current status and the resources used so far ("actual")
3. Determination of the resources still required to complete the project ( Cost to Complete / CTC; leads to the "V-Ist")
4. Carrying out a deviation analysis : Why was the previous plan deviated to what extent (dates, costs, performance)?
5. Implementation of a premise critique : Evaluation of the assumptions for plausibility , probability of occurrence, prospects of success
6. Evaluation of opportunities and risks
7. Adoption of a catalog of measures on how to proceed

The audit can be initiated by different management levels:

• Project management
• Business area management
• Management of the company
• Group board

The selection of the auditors depends on the commissioning management level. Since the assessments by the auditors should be as objective as possible, the auditors generally do not belong to the project or organization in whose area the project is based.

The selection of external auditors is also possible. In this case, it must be checked in each individual case whether these are appropriate in terms of price-performance ratio and to what extent they are familiar with the project organization and the project subject.

See also: Red Team Review