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Corporations throughout the world are losing billions in wasted quality and project spending and this waste is being carefully hidden from management and investors. These projects and quality initiatives are often not included in the normal auditing practices. Understanding the process of auditing projects and quality initiatives, in addition to their other best practices; give auditors the ability to positively impact the organization's profits, shareholders and customers by ensuring these organizations make well-informed decisions about their key projects.
The outcome of project failure is wasted dollars that steal investor profits and have a negative impact on the organization's bottom-line. A project and quality audit provides an opportunity to uncover the issues, concerns and challenges encountered throughout their execution. It affords those responsible for these projects with an interim view of what has gone well and what needs to be improved in order to successfully complete it. If done at the close of a project and quality initiative, an audit can be used to develop success criteria for future projects by providing a forensic review.
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