Duration
2 days
Overview
Since a decade ago, project management has found new practitioners in the fields of banking, insurance, and auditing. Inevitably, project management has now permeated almost every business, and managing a project is an acquired skill of strong anticipation, action and feedback. Risks, uncertainties, cost overruns, delays, and other non-conformance issues are clearly prevalent in any project.
An audit task inspecting a project is by itself a project also. Few auditors know the five “W”s of a project they are auditing. Auditing a project is much more than just looking at the financial and accounting compliance and their associated performance indicators. Auditing a project investigates compliance from the start through finish of a project, its system and its processes.
In this workshop, delegates will learn how you can achieve higher transparency and governance in all project management process areas, which in turn improve time and cost control, improve quality control, achieve higher resource utilization and process efficiency, and even identify flaws in processes that may open to abuse.
Using real case-specific examples, delegates will gain knowledge and wisdom while learning about project planning, scheduling, control, change management; and decision support concepts and project management methodologies. The techniques outlined in this workshop will significantly improve the delegates knowledge in project organizational dynamics and team leadership.
The workshop will provide maximum opportunities to participants to inject their own examples and issues, and continually relate the workshop to their own contexts. Project templates and checklists are provided to participants for immediate transfer of project management application to audit work.
Objectives
- The workshop delegates will have a set of tools and techniques to audit projects. Audits involve:
- Project Performance Indicators
- Quality or other Project Performance KPIs
- Delegates would be able to identify Critical Success Factors, and make recommendations (both long-term and interim) through Problem-Solving, Collaborating, and Compromising
- Identify “loopholes” in the project management system and processes
- Understanding what makes a high-performance team, and what attributes and characteristics make up a project leader
Who Should Attend
The course is aimed at Operational Auditors, Information Systems Auditors, External Auditors and Consultants who are engaged to audit project work during project and at project closure.
Workshop Outline – What You Will Learn
DAY 1
1.Project Management Auditing
·Defining project management, and the scope of project work
·Project management relevance to internal audit
·The Work Breakdown Structure
- Feasibility studies
- Setting and measuring project performance Indicators
·The project management processes and lifecycle
- Project leadership styles, team development, and organization dynamics
2.Variations in Organizational Roles in Project Management
·Management vs. internal audit
·Domestic vs. multi-national
·Team vs. individual engagements
·Large vs. small teams
·Operational/financial vs. IT
·Internal vs. outsourced
3.Project Management throughout the Audit Process
·Preliminary Audit Planning Stage
·Opening Audit Meeting
·Closing Audit Meeting
·Fieldwork Management
·Work Paper Review
·Issuing the Audit Report
·Post Audit Evaluation
DAY 2
4.Project Performance Measurements
·How project performances are measured
·Using the Seven Quality Tools to analyze and visualize project performance measurements
·Interpreting project performance and making recommendations using Earned Value Technique
- Simulating project scenarios using Monte Carlo and sensitivity analyses
5.Project Case Studies
Programme scope, delivery arrangements and suitability are confirmed during enquiry.