Question

Distinguish PMO project auditing from PM assessment.

Based on your workplace experience or an organization in which you are familiar, describe how project auditing added enterprise value.

Summarize how the project auditing improves PMO success.

Answer 1

First let us understand what is project auditing and how it adds value to an enterprise. Project auditing can be described as that type of assessment or even you can say an evaluation that reviews the on going project in the organization. It reviews the way how project is being done, how the documents of the project are being maintained, how the budgets are allocated, how the techniques are applied in completion of the project, the expenditure incurred till date and it's validity and accuracy, and all other project standards whether met or not. By evaluating all these factors that are associated with the project it really ensures that whether the project is in the right track or not. And such evaluation adds value to the enterprise by ensuring the project success. Project auditing is usually done by the audit department of the organization or the PMO of the organization or even sometimes an external auditor is appointed to protect the independency of the auditor.

And coming to the next part of the answer, assuming that the audit is done by an external auditor or the audit department in the organization, the project auditing improves the PMO (Project Management Office) success by making the project set on the right track for meeting the necessary project standards. PMO in an organization strives to maintain and the standards of the project, whereas the project auditing is doing the same so it obviously makes the work of the PMO easier than ever. So in this way the project auditing helps PMO in maintaining a better project under the predefined project standards.