Risk Based Auditing Of Projects And Contracts

It has been estimated that a strong risk management process can decrease problems on a project by as much as 80 to 90 percent. In combination with solid project management practices, a good risk management process is critical in cutting down on surprises, or unexpected project risks. Such a process can also help with problem resolution when requirements change, because now those changes are anticipated and actions have already been reviewed and approved, avoiding the need for panic and emergency treatment.

Auditing the project throughout it’s life from the project development stage to the post implementation review and adopting a risk based approach is a proven way to maximise the opportunity to deliver the project to time, to budget and fully meet the needs of all interested parties.

Learn the concepts and practical application of a risk based approach to project review

Understand how to identify, mitigate and control project risks effectively

Appreciate how to separate the key risks from the lesser threats
Challenge management and sell the benefi ts of proactive risk
based audit of key projects

Audit major projects including joint ventures with confi dence
Apply techniques to ensure that more projects meet their agreed objectives

Heads of audit, audit managers and senior auditors

Project managers and project programme managers

Auditors responsible for undertaking project audit assignments

Other professionals who need to understand the risks impacting complex projects

Managers and directors of business functions - to aid their knowledge of a risk based audit approach to projects