| Optimize Strategy & Leadership » Leadership Training » Best Practice Auditing and Risk Assurance for Major Projects |
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Best Practice Auditing and Risk Assurance for Major Projects |
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Workshop Overview: |
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Corporations throughout the world are losing billions in wasted
project spending and this waste is being carefully hidden from management
and investors. These projects are often not included in the normal
auditing practices. Understanding the process of auditing projects,
in addition to their other best practices; give auditors the ability
to positively impact the organization’s profits, shareholders
and customers by ensuring these organisations 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 organisation’s bottom-line.
A project audit provides an opportunity to uncover the issues, concerns
and challenges encountered throughout a project’s execution.
It affords those responsible for the project with an interim view
of what has gone well and what needs to be improved within the project
to successfully complete it. If done at the close of a project, a
project audit can be used to develop success criteria for future projects
by providing a forensic review.
This workshop will provide auditors with an opportunity to learn how
to audit projects and how this differs from other types of audits,
how to conduct an in-depth audit, what elements of a project should
be audited and how to develop and report on the audit findings to
ensure the report findings are implemented. Case examples will be
used during this workshop including the implementation of a new IT
system; a mining project; the design and production of a new automobile,
public sector projects and many more situations. You will be engaged
through the major stages of projects and receive an expert insight
that will ultimately help you simplify and concurrently improve your
auditing processes. |
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Audience |
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The role of internal audit is often confused with one of pure finance.
However, the role of the internal auditor has evolved to one that
encompasses functions related to the entire organization.
Projects being evaluated by auditors can amount to billions of dollars
enabling an organisation to make well-informed decisions about a key
project and monitor its progress closely. It can involve the implementation
of a new IT system; a mining project, the design and production of
a new automobile and many more situations. In this session, the trainer
will work through the major stages of projects with you, offering
an expert insight that will ultimately help you simplify and concurrently
improve your auditing processes.
This workshop will be of benefit to internal auditors, who work primarily
in the mining and resource sectors and others who are responsible
to ensure the successful execution of projects. |
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Content |
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Understanding Project Management |
- What is project management and how is different from other
types of work
- Understanding the stages in the management of projects in order
to identify where opportunities for improvement through audits
exist
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Planning the Auditing of a Project |
- Defining the scope and objectives of the audit
- Identifying the expected success criteria for the audit
- Understanding the difference between a health check audit and
a project closeout audit
- Building your team and resources
- Identifying and recognizing the impact of the audit on various
stakeholder groups
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Completing an In-depth Project
Audit |
- Conducting individual research interviews with the Project
Sponsor, Project Manager and Project Team members in order to
identify the past, current and future issues, concerns, challenges
and opportunities
- Conducting individual research interviews with stakeholders
including vendors, suppliers, contractors, other project internal
and external resources and selected customers
- Assessing the issues, challenges and concerns in more depth
to get to the root causes of the problems
- Reviewing historical and current documentation related to the
project including;
- Team Structure
- Scope Statement
- Business Requirements
- Project Plan
- Milestone Report
- Meeting Minutes
- Action Items
- Risk Logs
- Issue Logs
- Change Logs
- Reviewing the Project Plan to determine how the Vendor Plan
has been incorporated into the overall project plan
- Interviewing selected Stakeholders to identify and determine
what their expectations of the project had been and to identify
to what extent their expectations have been met
- Reviewing the Project Quality Management and the Product Quality
Management to identify the issues, concerns and challenges in
the overall management of the project and to identify the opportunities
that can be realized through improvements to the attention of
project and product quality
- Identifying the Lessons Learned that can improve the performance
of other future projects within the organization
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Analyzing the Project Audit
Information |
- Compiling and analyzing the information collected from all
of the interviews
- Compiling and analyzing the information collected from the
project documentation
- Identifying the issues, concerns and challenges presented through
the review of the Project Quality Management and Product Quality
Management plans and isolating the opportunities that can be realized
- Identifying all of the project’s issues, concerns and
challenges
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- Identifying all of the project’s opportunities that can
be realized through the development and presentation of a report
and recommendations
- Identifying the Lessons Learned that can improve the performance
of future projects within the organization
- Finalizing the creation of the report and recommendations based
on the findings and presenting this detailed report and recommendations
including the Road Map to get future projects to the “next
level” of performance
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Duration |
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| 1 Day |
