Project Audit

Having completed over $1B of projects, both locally and internationally, servicing some of the largest organisations and Governments in the world, Our team have built a reputation on focusing our skills and energys around Process and Procedure. “If I had a dollar for every time is said to my team “the process will save your career” I would be a rich man” exclaims our Principal Consultant.

Project Process Hygene is in our blood. Who better then to Audit your projects performance.

Our team are descrete, mindful and focused on understanding when, how, why your project has delivered the outcomes it has delivered (or not). Having Audited many highly sensitive projects in highly charged environments, we have the emotional and interlectual maturity to be objective and focus on empowering your business to make the necassary changes without tarnishing careers.

If you are considering a proces of Audit please review these items below for reference:

1. What are the benefits of a project audit? See Benefits of a Project Audit.

An independent third-party project audit provides the following benefits:

  • It gives a level of comfort to management providing assurance.
  • It provides a prioritized list of observations (findings) that need to be addressed. A project manager can be embedded in the project details and optimistically believe the project is in better shape than it is.
  • The recommendations provide practical solutions based on root-cause analysis.
  • If the audit is done early enough in the project, recommendations can be implemented to improve project execution and reduce time and cost overruns.

Petrobras, the world’s fourth largest energy company has instituted a gated methodology, where both oil & gas and information technology projects follow a methodology that includes a peer-review project audit. Benefits to organization include:

  1. Providing information with a known degree of uncertainty,
  2. Reaching the final investment decision in stages thus reducing risk,
  3. Reducing time and cost overruns during execution, mostly improving planning, and
  4. Gathering valuable knowledge and experience (lesson learned).

Seeking an independent third-party project audit / review? Contact us. We provide independent assessment and project recovery services, as well as project management quality assurance services. We can also train your staff on how to gather quality metrics to properly monitor projects. If you have a failed project and wish to move onto litigation, we can provide project forensics, expert testimony and litigation support services.

2. What is an IT project audit and what is the project audit process?

3. Do you need an audit programme? Contact us as we can provide these services remotely at reasonable cost.

4. Are all Project Audits the same, across different Project types. ie. construction vs IT implementations?

Not all projects are the same, nor follow the same process or methodology. “Project Management” is one of the most over used terms in the corporate vocabilary to date. However, there are significant differences between the project methodologies and hence the process of Audit.

the QCubed team have over 35 years experience in project management across almost every style of project known to man. From construction and development projects, Software Development, Systems Integrations, Automation and Robotics, IT Systems Infrustructure, Building and Property Services Initiations, Building and Property Services Transitions, Merger and Aquisitions, De-merger, Liquidations.

6. Is there a difference between a project audit, a program audit and a portfolio audit.

Absolutely! a project Audit is fundimentally focused on Auditing the bespoke outcomes, deliverables, processes and methodologies of a contained one off project. Fundimentally it is looking for a root cause, or a reason why the project either, did not perform to specification or Failed.

A Program Audit is more focused on the overall performance of multiple projects and the many factors that contributed, either dominative or collaboratively with other underperforming functions. A program Audit is more likely to recommend a Organisational change program than definitive “it was because THAT failed”

A Portfolioo Audit is more focused on the overall financial performance of multiple projects/programs and the missed opportunities in acheiving the stated returns as gauged by the initial business case. these are often initiated by the Finance team and the CFO, however likely stretch into every deminion of the organisation. These are complex and involve a great deal of financial analystics.

7. Can you Audit a business process project that does not have tangibles or something that is “built”?

Business systems Audits are much like the Program and or Portfolio audits and so, yes they two can be audited.

10. What differentiators should you consider when considering a third party independent evaluator?

Project Auditors utilizes its knowledge in project management and in auditing to offer independent opinions on project progress and practical recommendations for improvement. We build our review teams based on the client industry and needs, not just team members availability. We have conducted independent project audits and reviews for government agencies, publicly owned, and private companies. We also conduct quality assurance reviews (QARs) in conjunction with The Institute of Internal Auditors (IIA), and leverage this internal audit expertise in performing our work.

Below are some of our service differentiators:

Differentiator How we add value
Tailored Audit Work Program We tailor our Project Assessment Methodology resulting in a program with the objectives you want covered.
Balanced Report Our report includes positive observations as well as recommendations for change.
Qualified Team Our team consists of business professionals with years of experience in project management, audit, and technical fields. You approve our team before we begin the assessment. We conduct reviews as a team, not just one person, ensuring you receive a well-rounded view.
Standards We conduct our work according to the appropriate audit and project management standards to ensure that you receive a high quality product.
Independence We are not affiliated with any vendors, allowing us to provide an independent, unbiased opinion.

We offer services internationally. Past projects have included business projects with technology components and large capital construction & engineering projects.

For more information please complete the form below and our Principal Consultant shall be in contact to discuss more: