Project management entails continuous auditing of the progress and status of a project. Besides for daily, more thoroughly audits should be made weekly and again at every milestone and delivery.
You should refer to PMbok internatioanl standards for project management Reference books R wysocki 2009 effective project management 2009
This is a vague term that can mean multiple things (in Project Management):- PMP Exam: Project Management Professional Exam- Project Audit: Your project being audited/examined
The definition of "Audit Management" is to be responsible for ensuring that board-approved audit directives are implemented by the right people and in the correct way.
How does the project audit differ from the performance measjrement control system
Project Cost Management Project Quality Management Project Human Resource Management Project Communications Management Project Risk Management Project Procurement Management Project Stakeholder Management
Mgt audit is not compulsory under the law .cost audit in certain industry ,it is legally compulsory
One of the areas of a project that can be audited regards finances or accounting. Another important area to audit is procurement.
William Acar has written: 'The organizational audit and analysis' -- subject(s): Management audit, Management by objectives
In an operational audit, the management of an organization asserts that the operations of the organization are being conducted in accordance with management's established policies and procedures.
Project managers and project management teams, project sponsors
A project audit is conducted by systematically evaluating a project's processes, performance, and outcomes against predefined criteria and objectives. This typically involves reviewing project documentation, interviewing team members and stakeholders, and assessing compliance with standards and regulations. The auditor analyzes key metrics such as budget adherence, timeline accuracy, and quality of deliverables to identify areas of improvement or risk. Finally, the findings are compiled into a report, which includes recommendations for enhancing project management practices.
In today business world management play very important role for the success of failure of business. Management is the life blood of every organization. So if organization want to gain competitive advantage then it should improve their management efficiency and effectiveness. Followings are the objectives of management audit: Review of policies review of procedures review of methods performance appraisal job rotation Depend upon auditor mind or purpose of management audit