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What is a Management Dashboard?
The term Management Dashboard defines a wide range of data reporting and visualization tools or dashboards that allow using various performance & efficiency measures to report on an enterprise’s ability to organize and coordinate its activities in accordance with certain policies and in achievement of pre-determined objectives. What is a Management Dashboard?
 
 
 
 
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Money Management Action Plan

In this Money Management Action Plan you can read a range of tips and suggestions that will help you manage your money in an effective manner.

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Home » Glossary » What is Project Audit
What is Project Audit  

What is Project Audit



 
 

Project Audit is a systematic and often iterative activity of examining, researching and verifying a project for consistency and relevance to the basic parameters (quality, performance, cost-effectiveness) that are preset at the very beginning of the project. It aims to maximize success of the project.

Auditing a project means gaining insight into the project’s environment to uncover any issues, concerns and challenges that are required resolution. This activity allows understanding what has gone well and what needs to be resolved and improved within the project to ensure successful completion

The following steps are usually included in the project audit activity:

  • Success criteria selection. First, an auditor needs to define what project success means and what criteria to use for analyzing and measuring success.
  • In-depth analysis. Now, the auditor collects project data (performance, deliverable status, work effectiveness, staff productivity) to research and review the project. Success criteria will help determine project consistency.
  • Report development. Finally, the auditor summarizes the work done and reports on the project’s current state in terms of success criteria. The audit report is submitted to key stakeholders (project manager, sponsor) for review and decision making.

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