Hercules Consulting LLC
A project audit is an opportunity to uncover issues and challenges that come up during the execution of a project. We use this for Business+IT projects but it can be used for any project. The project audit can uncover project scope challenges, time dela......ys or possible quality issues early in the process and therefore has the very real potential to save you money. Generally it will yield the most value when it is done early in the project because that leaves the most time to intervene if necessary. Even when it is done in the middle of the project it can help to protect your investment. The costs the Project Audit can save you is huge compared to the costs for the project audit. Considered that 60% of projects fail (see http://blog.theleadershipsphere.com.au/the_leadership_sphere/2009/03/high-project-failure-rates.html) it appears smart to monitor your investment while you can revert direction if and as needed. We recommend to seriously consider a project audit for projects above $150,000.00 The higher the project budget the more important the project audit becomes. At this point the project audit is not widely used because many companies are not aware of the potential cost savings in this area. The Audit happens in 3 steps1. Determine Goal of project audit2. Get feedback from project team (via questionnaire, interview etc.)3. Prepare Report and show recommendations to address project issues. To learn more about the Project Audit select http://www.hercules-consulting.com/index.php?pr=Project_Audit
