Exam 12: Project Auditing

Project evaluation often makes recommendations that relate to the ancillary objectives of the parent organization. List some of these potential ancillary benefits of project evaluation.

List the minimum points that should be contained in the formal report of a project audit.

The __________ section of an audit report contains a description of the project to provide a framework of understanding for the reader. Project objectives are clearly delineated.

Audits done early in the project lifecycle are often focused on __________.

During the audit, the auditor/evaluator must maintain __________ and treat all materials gathered as confidential until the audit is formally released.

For audits made late in the project's life, __________ are major matters of interest.

__________ is a measure of the degree to which the output of a system conforms to pre-specified characteristics.

Two of the most common limits on the depth of an investigation and level of detail presented in an audit report are __________.

Which of the following is NOT a project audit life cycle event?

The accumulation, storage, and maintenance of auditable data are important cost elements. Such storage may be critically important in meeting the legal test of __________.

The __________ section of the audit report should contain all issues that the auditor feels require close monitoring by senior management, along with a brief explanation of the relationships between these issues and the objectives of the project.

The key rule of engagement for the project auditor is to gain __________ to enter the system.

This section of an audit report contains the auditor's conclusions regarding progress together with recommendations for any changes in technical approach, schedule, or budget that should be made in the remaining tasks.

List and describe the events that comprise the project audit life cycle.

A typical detailed audit is conducted when __________ is required.

An evaluation of the likely outcomes of a policy and their probability of occurrence, usually conducted to compare two or more scenarios or policies is known as __________.

In the current status section of an audit report, the subheading labeled __________ will compare the work completed with the resources expended.

The __________ dimension of project success includes the obvious factors of meeting the project's technical and operational specifications. It also includes factors relating to loyalty and repurchase.

Managerial audits look at __________ and their use.

The __________ is a thorough examination of the management of a project, its methodology and procedures, its records, its properties, its budgets and expenditures, and its degree of completion. It may deal with the project as a whole, or only with a part of the project.