From the definition, an audit ensures an overview of a specific project. By uncovering different issues, matters and various challenges during the project. Here we tried to make a project management audit checklist. So, to run a successful audit of a specific project the management should recruit a project manager. Simply the project manager recruits his team. On the other hand, the investors and sponsors ensure the successful ending of the Audit.

project management audit checklist

Undertaking a Successful Project Audit!!!

Normally Project Manager conducts Audit in the midway to assess the development of a specific project. It also helps the project manager to learn about the facts needs to be improved to call the project successful at the end. If the Project Manager runs an Audit after the project ends.

It means that they want to assess their success in a particular project. Either they will use the data in their next similar projects to ensure success. However, it also gives an overview of the success and the failures of a specific project. So, a commercial organization can decide, what to do in their next project? Also a review on, what not to do?

Project management audit checklist – Who runs such Audits

Regardless of any time frame on the Audit held, the process of Auditing is similar. Normally an outside Audit firm or group of experts like CPA’s conduct the whole process. The Auditing held confidentially. Only the investors and the member of the Auditing teams have access to information. Because the audit opens up the facts about the project, not the names were involved in the project.

In the poorly managed project, the involved officials often interviewed by the expert CPA or Audit Manager. Generally, they ask about the experience of the project and their comments about the success or failure of a specific project. This is “Venting”. It has a great impact on Report development.

project management audit checklist

A project management audit checklist consist of three specific steps:

1. The questionnaire, Success Criteria, and Audit Interview Report Development
2. Deep dive and Research the project in depth
3. Audit Interview Questions – Report Development

project management audit checklist: Step 01

The questionnaire is a set of specific questions to be sent to specific stakeholders and core members of a project. It is a vital part to gather the information on the project by interviewing individuals. Also, it helps investors to inspire their core team members in the next projects. As at the end of a successful audit they have all data about gains, losses and changes need to make in further similar projects.

Success Criteria development is a process of interview to find out the expectation of the Project Manager & the Sponsors.

Audit Interview questions are a set of questions which cannot be answered with a simple Yes or No. Basically, the questions are open-ended. By the way, there are several ways to develop such Audit interview questions.

Followings are the techniques to create Audit Interview Questions:

  • First, develop questions that are directly related to the project success.
  • Second, the main problems the team faced during the project timeframe.
  • The third is the major concerns and challenges of the project.
  • Next ask the team, How they ran the project together?
  • Further, ask the team about the vendor management during the project.
  • Next, make a question about management of report and meetings held during the project.
  • Finally ask them, How they managed risk with the changes in the project?

These sets of questions are for the investors and management team who did not attend personal interviews earlier.

Project management audit checklist: Step 02

In Step 02 we’ll discuss, deep dive and research the project in depth. Following are the steps, A Auditing team can take to research the project in depth:

  • Simply the Audit team will run personal interviews with the sponsors, managers, and team directly connected with the project. The interviews are mainly individual discussion over the opportunities, concerns, problems, and past, present & the future challenges etc.
  • Likewise, conduct the same type of interviews with shareholders. Also, the list of candidates can consist of people like suppliers, vendors contractors etc. Few interviews can be conducted with some potential customers and resource suppliers both the internal and external people.

More resources to find out data

  • To find out the main issues the Audit team should do deep research and evaluate the main cause of any specific problems.
    All historical and other documentation can be a good source of research to understand the project outcome. For example, meeting records, target reports, project plans, structure of the teams, scope statements, change logs and issue logs etc.
  • The Audit team should assess the fact, How the vendor plan has been implemented with the project plan overall?
    Again conduct interviews to collect the data about the expectations of the shareholders from the project. And asses the fact, How much the expectation fulfilled?
  • To identify issues, challenges, and problems the Audit team must do research on the project and product quality management. Finally, search out the facts that can improve the product and project qualities in near future.
    Fin out the experience which can help in the next project plans also improves the product quality.

Project management audit checklist: Step 03

In Step 03 we’ll discuss, Report Development. Following are the steps, an Auditing team can take to develop a successful Audit Report.

• Simply merge all of the collected information from the individual interviews.
• Again merge all information generated from the questionnaire.
• Review the documents and information gathered and sort out the main points.
• Now find out the challenges, concerns, and issues. By reviewing thoroughly the product quality and management report.

Finally, list the findings and make a shortlist by eliminating the unnecessary or already noted stuff.

• Search and make a list of findings on challenges, concerns & issues etc.
• Next tally the short list of project opportunities against report recommendations.
• Now make a list of findings that will help in the future project to improve the success rate.
• Finally, complete the report by gathering all findings and present it to the organization. Remember, don’t forget to include a recommendation report along with the final report. So, the company gets a clear idea of their current status. Also able to make smart decisions in their near future projects.

Final words on Project management audit checklist

This Project Management Audit Checklist is for the people who want to assess their company’s current position and are willing to conduct an Audit in near future. By tallying with our checklist they can a good overview on How an Auditing Company make reports? So, they can advise the Auditing team and also prepare and train their project managers for upcoming Financial or commercial Audit.

Here we saw, How an Audit report helps the particular company to make the future decision. At the same time, informing the authorities of the current situation. By following these reports a can prevent their management to take wrong decision in future projects. Simply it will help them achieve success and preventing financial & technical losses in future projects.

Here following is a list of advantages a company can take from a successful Audit:

  • First, they can make a guideline and train their project managers and vendors.
  • Second, the Audit helps to make a good strategy for the future project.
  • Third, if a company conduct an Audit in the middle phase of a project, they will able to learn about their destination to call a particular project successful. Because at the end of mid-term Audit reports, the company must have a wide idea on the expectations from the project. As, they will have documents in hand mainly expectation reports of clients, shareholders and even the project managers.

More on Implementations & Benefits

  • Next, the company can develop a guideline for risk management to avoid any kind of loses in the future.
  • Maybe they can also develop success criteria by making a guideline on, How to involve management? Or Impact on customers, organization, and shareholders due to change in success criteria etc.
  • Also, the company will have a guideline about the relationship between organizations, vendors, contractors, and suppliers etc. This kind of steps eventually turns in to profits. Because all of the above are the physicals who are involved directly in the projects.