Project Auditing is Evaluating the Stages During the Life Cycle of a Project

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Project auditing is designed to conduct an evaluation at a number of stages during the life cycle of the project. Even though a project will be evaluated at the end as part of the post control, an audit will help identify if the processes are being followed and are the resources and revenue being utilized throughout the project. A project audit can be a formal or less than formal investigation in any area of the project. Purposes are generated for an evaluation and there is an extent on how they will be carried out, and considerations on how measurements will be applied, and how the final report will be developed. As the project nears completion, it will then move into the final phase which will be the project termination. There are…show more content…
Project auditing is designed to conduct an evaluation at a number of stages during the life cycle of the project. Even though a project will be evaluated at the end as part of the post control, an audit will help identify if the processes are being followed and are the resources and revenue being utilized throughout the project. A project audit can be a formal or less than formal investigation in any area of the project. Purposes are generated for an evaluation and there is an extent on how they will be carried out, and considerations on how measurements will be applied, and how the final report will be developed. As the project nears completion, it will then move into the final phase which will be the project termination. There are several reasons why a project is terminated and several methods that are used to terminate the project. This discourse will review some of the processes involved with a project audit and the methods that can be used to terminate a project. A project audit is designed to be an examination of the procedures involved in a project and the processes that are involved, the records being used, the budgets and expenses are being used appropriately, and if the project is meeting its goal as it progress through its stages (Meredith & Mantel, 2012). The design of the audit should encompass how the current status of the project is being completed by the goals that have been set, will there be any changes in scope, schedule, and cost and. If there is a

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