Evaluation Of A Project Management Audit Essay - 950 Words

What should be done to ensure appropriate closure of this project and why? There will be several areas of â€Å"clean-up† to address before announcing the project success and closure. First, before the closure of the project, it is better conduct an interim project audit to analysis the result. A project management audit is an examination designed to determine the true status of work performed on a project and its conformance with the project statement of work, including schedule and budget constraints. It is an independent, structured assessment of the state of affairs conducted by a competent examiner. 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. Secondly, the project team to create outstanding list from the project, such as what can be done to ease the worries from small business near the old bridge. The project team also needs to work with finance and legal teams to ensure that all project-related contract commitments are finalized and closed and should complete a final accounting of the project budget. The project lasts for three years and many different parties have been involved in this project and it has been funded by local, federal and the two states. Therefore, a final project cost analysis report should be done and agreed by project sponsors. The project manager shouldShow MoreRelatedThe Function and Purpose of Audits and Evaluation Programs796 Words   |  3 Pagesand purpose of audits and evaluation programs are to ensure that periodic, formal review occurs such that program implementation and budget can be informed. 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