Exam 8: Evaluating and Terminating the Project

What issues should be addressed in the project final report?

Project audits are typically very useful at the master schedule project state.

A discussion of the potential for project failure and monetary loss should be included in the audit report.

Describe what type of information would be in the future project status section of the audit report?

Kqirk, a software development firm, decides to perform an audit for an ongoing project. The project aims to create a multimedia animation software for a client. The company hires a team of auditors who have knowledge about the subject of the project and skills that would enable them to evaluate the progress of the project. In this scenario, Kqirk most likely conducts a(n) _____.

Redemption Inc., an event management firm, wants to establish a social media marketing department. The management assigns one of the company's best managers to form a team of six employees and undertake a project to increase Redemption's presence on social media. The project is closed after it is successfully completed. Redemption Inc. forms a new social media marketing department with the project team members. In the context of project closure, this scenario exemplifies _____.

Early project audits usually focus on the project's budget and schedule.

Project evaluation is an appraisal for use by top management.

Measuring the project's performance against a planned budget and schedule is generally straightforward.

The project audit is typically broader than the traditional management audit.

The general audit is usually performed by a person or team with special technical skills.

The use of forms to collect data during a project audit is generally considered not to be good management practice since they can limit the audit team's flexibility.

Later project audits are typically of less value to the project team and of more interest to general management.

Which of the following audits is typically performed by a person or team with special technical skills?

What is the difference between financial audits and project audits?

Which of the following information should not be contained in an audit report?

The primary purpose of project evaluation is to given feedback to senior management for decision and control purposes.

The four important dimensions for measuring project success include the following except…

Project evaluation should be limited to an after-the fact analysis.

Project evaluation should not be limited to an after-the-fact analysis.