Project management is one of the core areas of expertise in today’s corporate career. Defined as a temporary allocation of resources to accomplish a defined goal and objective; project management may be considered the building blocks of an organization’s business. Given the importance of project management to any business; it is imperative that the organization implements a set of checks and balances into the whole system of project auditing to ensure that its project management is on track to achieve its stated ends. This is what a project management audit is essentially about.
Ensuring discipline in project management:
Auditing project management is about being aware and responsive to the nuances of the project. Auditing project management consists of being able to put in place a system by which it manages the various elements of the project management such as the project schedule, budgeting, the scope and the inherent or latent risks the project carries, the quality aspect, the required communication and so on. In other words, project management audit is a system that seeks to verify and monitor the effectiveness of project management. Project management audits are a guide to understanding and controlling the ways by which a project is completed on time meeting the requisite quality.
Like any other discipline, auditing project management is a clearly laid out process that is acquired over time with practice and application with the right amount of training and coaching to the appropriate persons.
It is important to involve managers in project management audits:
Organizations can make the most out of project management audits by involving managers in project management audits. Here is why:
- When managers audit the steps and processes of a project either methodically or haphazardly; they make sure that the project is going on as scheduled and is meeting the required quality standards
- This is more like an examination that is used to evaluate the state of the project. It will help project managers take the necessary steps for corrections, whether they relate to acceleration of speed or stepping up quality
- Another core aspect of auditing project management is ensuring that the project meets regulatory requirements and standards
- When Project Managers are part of auditing project management; the organization is guaranteed that the project is on track since it is managers who oversee its various stages and keep a tab on performance.