The following will be discussed in this chapter: Evaluation, project termination, project auditing, evaluation criteria, the audit process, when to terminate a project, types of project termination, the termination process, the project final report,. | Chapter 8 Evaluating and Closing the Project Evaluation Appraises the progress and performance of the project relative to The initial or revised plan The goals and objectives set for it during the selection process Projects should be evaluated at key points in the project life cycle Purpose is to improve process of carrying out future projects Evaluation Criteria Criteria set by senior management Original criteria for selecting and funding project Success to-date Business/direct success Such as the level of commercial success for external projects and reduced throughput time for internal projects Contribution to organization’s goals Contribution to team member objectives Four Important Dimensions of Project Success Efficiency in meeting the budget and schedule Customer impact/satisfaction Business/direct success Future Potential Items to Consider for Project Evaluation Report Recommendations Communication with the client and senior management Locating opportunities for technological | Chapter 8 Evaluating and Closing the Project Evaluation Appraises the progress and performance of the project relative to The initial or revised plan The goals and objectives set for it during the selection process Projects should be evaluated at key points in the project life cycle Purpose is to improve process of carrying out future projects Evaluation Criteria Criteria set by senior management Original criteria for selecting and funding project Success to-date Business/direct success Such as the level of commercial success for external projects and reduced throughput time for internal projects Contribution to organization’s goals Contribution to team member objectives Four Important Dimensions of Project Success Efficiency in meeting the budget and schedule Customer impact/satisfaction Business/direct success Future Potential Items to Consider for Project Evaluation Report Recommendations Communication with the client and senior management Locating opportunities for technological advances Reduction of indirect costs and direct costs Improving the project-management process Identification of risks in the organization’s use of projects Utilization of the skills resulting from project members’ work on projects Employment of general management experience gained by project managers Improving the organization’s use of projects Increasing the speed of obtaining results in projects Measurement Measuring performance against planned budgets and schedules Relatively straightforward Measurement of actual expenditure and earned values More complicated Project Auditing A special type of evaluation is the formal audit Not a financial audit Broader in scope and may deal with the whole or any part of the project A thorough examination of the management of a project, its methodology and procedures, its records, properties, inventories, budgets, expenditures, progress, and so on Broader than the traditional management audit The Audit Process The timing of the audit depends on .
