Simulation Experiental Exercise - SEE-3

Purpose To prepare a project audit report. Use the Residential House Development Project in the Simulation.

Instructions Use the project team (team 6) in the simulation to. Using the guidelines in the attached document, prepare project audit report. Be sure to include project classification, analysis of information gathered, recommendations, and lessons learned. Also include an appendix of appropriate documentation.

Deliverable Final project report discussing all phases of the project.

Summary for Team_6 in period [ View Project Plan | [ Export to XLS | [ Export to PDF Name Time Cost Functionality ' Stakeholder ' Overall Rank Team_2 97% 100% 99% 100% 100% 1 Team_5 100% 42% 71% 42% 64% 2 Team_4 97% 18% 100% 70% 63% 3 Team_6 100% 1% 85% 53% 52% 4 Team_1 96% 0% 25% 29% 36% 5 Team_3 0% 30% 0% 0% 0% 6 Note* Overall score is weighted: Time (35%), Cost (35%), Functionality (15%), Stakeholder (15%) Financials & Statistics Beginning Budget $107,480 Team Efficiency 72% Period Costs $32,984 Team Cohesion 64% Adjustments $0 Team Composition 91% Remaining Budget $74,496 Team Longevity 53% Summary for Team_6 in period |3 View Project Plan || Export to XLS || Export to PDF f i iod Name Time Cost Functionality ' Stakeholder ' Overall ' Rank Team_2 97% 100% 100% 100% 100% 1 Team_4 98% 2% 99% 61% 69% 2 Team_5 100% 63% 68% 36% 68% 3 Team_1 97% 37% 2% 30% 51% 4 Team_6 99% 0% 87% 60% 49% 5 Team_3 0% 46% 0% 0% 0% 6 Note* Overall score is weighted: Time (35%), Cost (35%), Functionality (15%), Stakeholder (15%) Beginning Budget $187,266 Team Efficiency 71% Period Costs $79,786 Team Cohesion 66% Adjustments $0 Team Composition 92% Remaining Budget $107,480 Team Longevity 47% * Adjustments are due to financial impact of events Summary for Team_6 in period |2 v View Project Plan Export to XLS Export to PDF Name Time Cost Functionality Stakeholder Overall Rank Team_2 100% 99% 100% 100% 100% 1 Team_4 100% 75% 78% 55% 77% 2 Team_5 99% 100% 48% 15% 75% W 100% 86% 33% 22% 68% A Team_1 98% 79% 53% Team_6 99% 0% 6 Team_3 0% 51% 0% 0% Note* Overall score is weighted: Time (35%), Cost (35%), Functionality (15%), Stakeholder (15%) Financials & Statistics 80% Beginning Budget $240,776 Team Efficiency Team Cohesion 91% Period Costs $53,510 96% Adjustments $0 Team Composition $187,266 88% Remaining Budget Team Longevity * Adjustments are due to financial impact of eventsSummary for Team_6 in period 1 v| | View Project Plan || Export to XLS || Export to PDF Name Time Cost Functionality ' Stakeholder Overall Rank Team_4 99% 72% 74% 29% 100% 1 Team_6 48% 100% 97% 27% 91% 2 Team_2 100% 5% 100% 61% 75% 3 Team_1 85% 87% 0% 0% 73% 4 Team_5 34% 77% 16% 18% 45% 5 Team_3 0% 0% 23% 100% 0% 6 Note* Overall score is weighted: Time (35%), Cost (35%), Functionality (15%), Stakeholder (15%) Financials & Statistics Beginning Budget $280,000 Team Efficiency 80% Period Costs $39,224 Team Cohesion 95% Adjustments $0 Team Composition 97% Remaining Budget $240,776 Team Longevity 100% * Adjustments are due to financial impact of events Summary for Team_6 in period [ View Project Plan | [ Export to XLS | [ Export to PDF | ' Name Time Cost Functionality Stakeholder ' Overall ' Rank ' [ Team_1 100% 100% 100% 100% 100% 1 | | Team_2 100% 100% 100% 100% 100% 1 | | Team_3 100% 100% 100% 100% 100% 1 | | Team_4 100% 100% 100% 100% 100% 1 | | Team_s 100% 100% 100% 100% 100% 1 | | Team_6 100% 100% 100% 100% 100% 1 | Note* Overall score is weighted: Time (35%), Cost (35%), Functionality (15%), Stakeholder (15%) Financials & Statistics Beginning Budget $280,000 Team Efficiency 100% Period Costs $0 Team Cohesion 100% Adjustments $0 Team Composition 100% Remaining Budget $280,000 Team Longevity 100% * Adjustments are due to financial impact of events 10 14-3 Project audits are more than the status reports suggested in Chapter 13, which report on project performance. Project audits do use performance measures and forecast data. Explain the importance But project audits are more inclusive. Project audits not only examine project success of a project audit. but also review why the project was selected. Project audits include a reassessment of the project's role in the organization's priorities. Project audits include a check on the organizational culture to ensure it facilitates the type of project being implemented. They assess if the project team is functioning well and is appropriately staffed. Audits make recommendations and articulate lessons learned Project audits can be performed while a project is in process and after a project is completed. There are only two minor differences between these audits: In-process project audits. Project audits early in projects allow for corrective changes, if they are needed, on the audited project or others in progress. In-process project audits concentrate on project progress and performance and check if condi- tions have changed. For example, have priorities changed? Is the project mission still relevant? In some cases, the audit report may recommend shutting down the project or significantly changing the scope of the project. Post-project audits. These audits tend to include more detail and depth than in- process project audits. Project audits of completed projects emphasize improving the management of future projects. These audits are more long-term oriented than in-process audits. Post-project audits do check on project performance, but the audit represents a broader view of the project's role in the organization; for example, were the strategic benefits claimed actually delivered? The depth and detail of the project audit depend on many factors. Some are listed in Table 14.1. Because audits cost time and money, they should include no more time or resources than are necessary and sufficient. Early in-process project audits tend to be perfunctory unless serious problems or concerns are identified. Then, of course, the audit would be carried out in more detail. Because in-process project audits can be worrisome and destructive to the project team, care must be taken to protect project team morale. The audit should be carried out quickly, and the report should be as Hello CLASS . Please Answer THE Questions IN Sections 2,3, 4. +5 To complete THE PROJECT AudiT. The Audit SHOULD Be SUBMITTED AS A MS WORD Document IN APAT FORMATpositive and constructive as possible. Post-project audits are more detailed and inclu- sive and contain more project team input. In summary, plan the audit and limit the time for the audlt For example, in post-project audits, for all but very large projects, a one-week limit is a good benchmark. Beyond this time, the marginal return of additional information diminishes quickly. Small projects may require only one or two days and one or two people to conduct an audit. The priority team functions well in selecting projects and monitoring performance cost and time. However, reviewing and evaluating projects and the process of manag- ing projects are usually delegated to independent andit groups. Bach andit group is charged with evaluating and reviewing all factors relevant to the project and to manag- ing future projects. The outcome of the project audit is a report. The Project Audit Process The following guidelines, which should be noted before conducting a project audit, will improve your chances for a successful audit. L. First and foremost, the philosophy must be that the project audit is not a witch hunt. 2. Comments about individuals or groups participating in the project should be mini- mized. Keep to project issues, not what happened or who did what. . Audit activities should be intensely sensitive to human emotions and reactions. The inherent threat to those being evaluated should be reduced as much as possible. 4. The accuracy of data should be verifiable or noted as subjective, judgmental, or hearsay. 5. Senior management should announce support for the project audit and see that the audit group has access to all information, project participants, and (in most cases) project customers. . The attitude toward a project audit and its aftermath depends on the modus operandi of the audit leadership and group. The objective is not to prosecute. The objective is to learn and conserve valuable organizational resources where mistakes have been made. Friendliness, empathy, and objectivity encourage cooperation and reduce anxiety. 7. The audit should be completed as quickly as is reasonable. L2 f= With these guidelines in mind, the project audit process is conveniently divided into three steps: initiation and staffing, data collection and analysis, and reporting. Each step is briefly discussed next. 1 - Was the organizational culture supportive and correct for this type of project? Why? 'Why not? . Was senior management's support adeguate? . Did the project accomplish its intended purpose? 4. Were the risks for the project appropriately identified and assessed? Were con- tingency plans used? Were they realistic? Have risk events occurred that have an impact greater than anticipated? 5. Were the right people and talents assigned to this project? . What does evaluation from outside contractors suggest? 7. Were the project start-up and hand-off successful? Why? Is the customer satisfied? L3 B o Project Team View 1. 'Were the project planning and control systems appropriate for this type of project? Should all projects of a similar size and type use these systems? Why or why not? 2. Did the project conform to plan? Is the project over or under budget and schedule? Why? 3. Were interfaces and communications with project stakeholders adequate and effective? 4. Did the team have adequate access to organizational resourcespeople, budget, _ support groups, equipment? Were there resource conflicts with other ongoing projects? 3. Was the team managed well? Were problems confronted, not avoided? The audit group should not be limited to these questions but rather should include other questions related to their organization and project typefor example, research and development, marketing, information systems, construction, or facilities. The pre- ceding generic questions, although overlapping, represent a good starting point and will go a long way toward identifying project problem and success patterns. Step 3: Reporting The major goal of the audit report is to improve the way future projects are managed. Succinctly, the report attempts to capture needed changes and lessons learned from a current or finished project. The report serves as a training instrument for project man- agers of future projects. Audit reports need to be tailored to the specific project and organizational envi- ronment, Nevertheless, a generic format for all audits facilitates the development of an audit database and a common outline for those who prepare audit reports and the managers who read and act on their content, A very general outline common to those found in practice is as follows: L. Classification. The classification of projects by characteristics allows prospective readers and project managers to be selective in the use of the report content. Typical classification categories include the following: Project typee.g., development, marketing, systems, construction, Sizemonetary. Number of staff, Technology levellow, medium, high, new, Strategic or support, Other classifications relevant to the organization should be included. 2. Analysis. 'The analysis section includes succinct, factual review statements of the project (PMBOK, 2017)for example, = Scope objectives, the criteria used to evaluate scope and evidence that the comple- tion criteria were met. = Quality objectives, the criteria used to assess the project and product/service qual- ity, and reasons for variances. > Cost objectives, including acceptable cost range, actual costs, and reasons for any variances. Schedule objectives, including verification of milestone completion dates, and rea- sons for variances, Summary of risks and issues encountered on the project and how they were addressed. Qutcomes achieved, including an assessment of how the final product, service, or result addressed the business need identified in the selection process. 3. Recommendations. Usually audit recommendations represent major corrective actions that should take place. Audit recommendations are often technical and focus on solutions to problems that surfaced. For example, to avoid rework, the report of a construction project recommended shifting to a more resilient building material. In other cases, recommendations may include terminating or sustaining vendor or con- tractor relationships. 4 Toeonme lomwnnd Mha.. 1 4. Lessons learned. These do not have to be in the form of recommendations, Lessons learned serve as reminders of mistakes easily avoided and actions easily taken to ensure success. In practice, new project teams reviewing audits of past proj- ects similar to the one they are about to start have found audit reports very useful. Team members will frequently remark later, \"The recommendations were good, but the \"lessons learned' section really helped us avoid many pitfalls and made our project implementation smoother.\" It is precisely for this reason that lessons learned in the form of project retrospectives have taken on greater prominence and warrant further discussion. See Snapshot from Practice 14.3: Operation Eagle Claw. 5. Appendix. The appendix may include backup data or details of analysis that allow others to follow up if they wish. Tt should not be a dumping ground used for filler; only critical, pertinent information should be attached