Question 1

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.

Accepted Answer

The answer of Project evaluation often makes recommendations that relate...

Question 2

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

Accepted Answer

The answer of List the minimum points that should be...

Question 3

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.

Accepted Answer

The answer of The __________ section of an audit report...

Question 4

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

Accepted Answer

A) technical issues 
B) management issues 
C) financial issues 
D) personnel issues

Question 5

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

Accepted Answer

The answer of During the audit, the auditor/evaluator must maintain...

Question 6

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

Accepted Answer

A) technical issues 
B) management issues 
C) financial issues 
D) personnel issues

Question 7

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

Accepted Answer

The answer of __________ is a measure of the degree...

Question 8

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

Accepted Answer

A) the personality of the auditor and cooperation received 
B) scope and objectives 
C) word processing support and existing documentation 
D) money and time

Question 9

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

Accepted Answer

A) project audit initiation 
B) project baseline definition 
C) establishing an audit database 
D) post-completion analysis of the project

Question 10

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

Accepted Answer

A) completeness 
B) accuracy 
C) due diligence 
D) capacity

Question 11

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.

Accepted Answer

The answer of The __________ section of the audit report...

Question 12

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

Accepted Answer

The answer of The key rule of engagement for the...

Question 13

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.

Accepted Answer

A) introduction 
B) current status 
C) future project status 
D) critical management issues

Question 14

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

Accepted Answer

The answer of List and describe the events that comprise...

Question 15

A typical detailed audit is conducted when __________ is required.

Accepted Answer

The answer of A typical detailed audit is conducted when...

Question 16

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 __________.

Accepted Answer

A) technical evaluation 
B) project evaluation 
C) risk analysis 
D) profit estimation

Question 17

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

Accepted Answer

The answer of In the current status section of an...

Question 18

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.

Accepted Answer

A) project efficiency 
B) customer impact/satisfaction 
C) business/direct success 
D) future potential

Question 19

Managerial audits look at __________ and their use.

Accepted Answer

The answer of Managerial audits look at __________ and their...

Question 20

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.

Accepted Answer

The answer of The __________ is a thorough examination of...

Exam 12: Project Auditing