https://www.pmclounge.com/testimonials/namratha-maddirala-pmp/. https://www.pmclounge.com/testimonials/ehsan-mohammadi-pmp/. https://www.pmclounge.com/testimonials/aadil-feroze-pmp/, I am writing from the other side of the world (Bogota, Colombia), and wanted to tell you that yesterday I succeed on the. Required fields are marked *. These address accounting and reporting of financial transactions, transaction testing (document support, public purpose, policy compliance), internal financial reporting, accounting, and other internal controls, accounting and fund accounting issues, accountability, reconciliations, and checks and balances. you were very clear in your instruction delivery. https://www.pmclounge.com/testimonials/alimul-razi-pmp/. These audits address allegations or discoveries of internal theft, manipulation of records, misuse of assets and/or conflicts of interest. In fact, a day before my exam, I did nothing but went through all your videos again. Thats because work, time and money are at stake. https://www.pmclounge.com/testimonials/dan-sandifer-capm/. You are doing a really fantastic job by explaining the complex project management terms with ease. What if you earn more than 60 PDUs in 3 years? Thanks for creating PMC Lounge and I must say a huge credit goes to you for simplifying understanding in such a way that I found nowhere. The troubleshooting process allows the project team to provide solutions and helps prevent similar problems from recurring in the future. I watched your video on the formulas and then wound up going through multiple videos and found them clear, concise, and perfect. I just gave my PMP exam and saw congratulations message at the end. PMC Lounge is excellent learning platform thank a ton to Shoaib Qureshi for high quality and knowledgeable videos specially on PMP. We work closely with senior management, General Counsel, the comptrollers office as well as the NAU Police Department as necessary to resolve these issues. I watched every single one at least once and they provided an approach to learning the material that made things not only stick, but ingrain what it means to be a PM. Thanks, PMCLounge.com for your course, it was the key to my success. I wanted to thank you for all of your videos posted on PMC Lounge. Best wishes to keep growing and spreading the knowledge. The various types of audits you will come across during your PMP preparation are, A normal audit or simply audit is part of Monitoring and Controlling process group. There have been knowledge areas like Procurement Management which was explained so well that I didn't refer to the PMBOK guide or Rita Mulcahy's book after seeing your videos. Twproject: project management software,resource management, time tracking, planning, Gantt, kanban. I just want to thank you for the helpful videos you publish on YouTube. A project audit is a formal review of a project, often intended to assess the extent to which project management standards are being upheld. Highly recommend for PMP aspirants if anyone looking for exam preparation sources. PMCLounge.com is the number 1 *free* PMP resource on the internet | Get certified in 7 weeks! Your emphasis on words and the way you speak makes it interesting and easy to understand. | Stakeholder Analysis, PMP Salary in Australia | How much do PMP certified Project Managers earn in Australia, Check-ins and ESVP Explorers, Shoppers, Vacationers and Prisoners. Save yourself from those creepy projects! We also participate in proactive discussions and project implementations to streamline or improve systems and processes as they are being developed to help build in positive controls. https://www.pmclounge.com/testimonials/subhash-mishra-pmp/. Thanks for your PMP videos. I have been in working in IT for many years and unfortunately, have been on furlough since March. Shoaib Qureshi, Hi Good morning, I am very happy to share with you, my PMP certification achieved 10.07.2021 with all "Above Target - (3AT)" scores . As soon as I start working again, I am going to make a donation or two. Basically, project audits are rarely well received and are often controversial, but if performed correctly they provide unprecedented opportunities for learning from mistakes and the identification of important problems that would inevitably lead to the failure of the project. They figure out whether or not you are following the companys process, Risk audits are part of Monitoring and Controlling process group. The following is a list of the seven categories with a brief description of each: These address cost accounting issues, recharge centers/user fees, internal control effects of proposed systems/process changes, performance measurement, pricing of services, in-house vs. contracting out/outsourcing issues, operational controls/procedures, process flows, forms, integrity of management information, and opportunities for more efficient and effective use of resources to fulfill the units mission and objectives. Notify me of follow-up comments by email. These technical audits address the internal control environment of automated information and transaction processing systems and how people use those systems. Thanks to PMC Lounge for being there, the bite size multimedia material has been very helpful for me to successfully clear the PMP in first attempt. Although it is not always a joyfully expected event, a project audit can lead to a positive result, regardless of whether a project manager overcomes it or not. Sorry, your blog cannot share posts by email. The project audit assesses the feasibility of the projectin terms of affordability and performance by providing transparency and assessing costs, time and resources. During the preparation I found YouTube videos of channel PMC Lounge extremely helpful. https://www.pmclounge.com/testimonials/jj-acot-pmp/. Your videos helped me pass the PMP Certification in my first attempt. Marked for later but not reviewed Will the question be scored? Keep it up PMC Lounge, You are doing a great job. After all, the organization itself is keen to achieve a positive outcome to the project. So thanks a lot for all your efforts putting online this wonderful resources. https://www.pmclounge.com/testimonials/ayush-mishra-pmp/, It's really a huge resource for the PMP exam preparation. Apply a review and equalization approach when it comes to controlling the budget, examining data that includes estimated and actual costs, as well as costs of meeting goals. Keep up the great work!!! I am really happy that I could get in touch with PMC Lounge's regular videos that clarified my concepts and ideas. https://www.pmclounge.com/testimonials/nelson-calderon-pmp/. Long live, https://www.pmclounge.com/testimonials/bipul-chandra-roy-pmp/. To begin with the basics, project auditing can be defined as the process of detailed inspection of the management of a project, its methodology, its techniques, its procedures, its documents, its properties, its budgets, its expenses and its level of completion. I had taken the "official" CAPM course from PMI but was struggling with the material. https://www.pmclounge.com/testimonials/erhivwor-fortune-okiemute-pmp/. It evaluates the methodology used to help identify gaps in order to introduce the required improvements. The monitoring of the various phases of the project life cycle can contribute to the improvement of the project teams performance. Post was not sent - check your email addresses! Your videos really helped me on the concepts and differences of certain topics. A project audit can deliver learning opportunities through assessments of project management expertise. I thoroughly enjoyed the way you taught your course, how you explained everything in detail and made things plain and simple. I want to thank you for all the YouTube videos on PMP process groups and knowledge areas. I have given a thumbs up to many of them and will recommend them to everyone. Hi Shoaib, I have attended my PMP exam on 28 Aug 2021 and I received my certificate on 30 Aug 2021. https://www.pmclounge.com/testimonials/judy-thang/. https://www.pmclounge.com/testimonials/krishna-kulkarni-pmp/. Thanks once again. https://www.pmclounge.com/testimonials/jordan-davis-pmp/. Few concepts like leads, lags, schedule compression, critical path, risk management, burndown chart, and stakeholder analysis were described so easy to understand. The risk responses (that were implemented) are analyzed to determine if they were effective in handling the risks and their root causes. Inspection is done after the product is built, Quality audits are part of Execution process group. These help with overall process improvement. Do Suppliers have High Power or Low Power in the Project? Thanks Shoaib for your fantastic website and videos. Really appreciate Shoaib Qureshi and his team for hard work planning and organizing videos very well structured, delivery of speech and excellent presentation . Thanks a lot, Shoaib for your excellent platform. You make it so simple with a clear explanation. Shoaib is doing a really fantastic job by explaining the complex project management terms with ease. I want to thank you for your efforts making free youtube videos for us! https://www.pmclounge.com/testimonials/kiran-joshi-pmp/. I found out about your channel just 2 weeks before the exams. May you and all your loved ones be happy, healthy and successful. Thank you. https://www.pmclounge.com/testimonials/ankit-mittal-pmp/. I have recently achieved my PMP certificate and during the preparation I found youtube videos of channel PMC Lounge extremely helpful. These are reviews of your project by your company. Your email address will not be published. It also helped me to have better knowledge on strategy to clear PMP at a one go. https://www.pmclounge.com/testimonials/imran-khan-pmp/. Your YouTube videos and website is amazing , it helped lot to me to understand the core topic and basics and made it possible to achieve this, Thanks for your great support . I would like to give special thanks to PMC Lounge and Shoaib for the awesome video that helps me a lot to pass the PMP exam. Ensure the quality of project management, The Project Management Plan as a project compass, Gap Analysis: how it can improve project management. Twproject is a full featured web based project management software that gives you full visibility and control over your projects.Twproject is also a time tracking software, a bug tracking software, a project planning software. One of the best resource for PMP certification out there over the internet. https://www.pmclounge.com/testimonials/nazwa-salim/. https://www.pmclounge.com/testimonials/a-m-al-amin-pmp/. I like the style Mr. Shoaib delivers the lectures. Whoever is responsible for performing the audit must be in charge of the designated authority and issue related recommendations. I would recommend to each PMP aspirant to watch your videos to get success in their PMP journey. https://www.pmclounge.com/testimonials/karpagaraj-s-pmp/. Instead, the work is documented in a memo or e-mail message, or discussed verbally. Project Management for Non-Project Managers, Project Management Basics Introduction and Fundamentals, PMP Experience of Certified Professionals, How to renew your PMP Certification step by step. I recently passed my PMP exam last Dec 17, 2020 with only 2 months to review. The identification of the errors during the process contributes to the resolution of the problems and to understand if the project should continue through a go/no-go decision at each stage. It covers all topics of PMP , FAQs and very importantly some of new topics which are interesting and very useful. The word audit may have a negative connotation sometimes, particularly for the one whos subjected to it. It is also termed as Inspection as it is basically a QC process. I passed my PMP exam last week and just wanted to say a BIG thank you for all the wonderful resources and videos you have been providing for PMP aspirants like me. I earned the PMP credential with " Above Target " In all the 3 domains. Your videos helped me a lot, while preparation. https://www.pmclounge.com/testimonials/mazherullah-ibrahim-pmp/, https://www.pmclounge.com/testimonials/naved-ahmed-pmp/. https://www.pmclounge.com/testimonials/sriram-mk-pmp/. Keep up the great work, your channel is invaluable! Examples of these miscellaneous projects include: These audits include providing assurance that system/process problems were properly corrected and that action was taken to prevent a recurrence. Project audits support the identification of business factorswhere risks may reside, which could affect budget, time, environment and quality. Association of College and University Auditors, ASU University Audit and Advisory Services, University of Arizona Internal Audit Department, Types of audits and projects that are performed, requests for assistance in interpretation of policy, review internal control/good business practice issues, directing questions or complaints to proper department/authority. A project audit ascertains that the project management satisfies the standards by assessing whether it complies with the organisations policies, processes and procedures. A compliance audit determines the degree of adherence to laws, internal and external policies and procedures, and terms of contracts or grants. Videos really helped me clear my concepts and were interesting to watch as well. https://www.pmclounge.com/testimonials/ganesha-moorthi-pmp/. Audits are generally carried out by a specially designated audit department, the Project Management Office, an approved management committee or an external auditor. A project audit for a project manager is like a judgement day. IS audits typically evaluate system input, output, and processing, backup and recovery plans, and system security and documentation. Examples of specific regulations are NCAA, FERPA and FLSA. PMC lounge plays a huge role in that. Recently I cleared my PMP exam with Above Target in all areas. Shareholder vs. Stakeholder: in what they are different and why it is important to not confuse them, 1. Some of the Internal Audit departments work comes in the form of inquiries from the campus community via phone, e-mail, or in person. Thank you! With the help of your incredible contents, i passed my PMP exam in first attempt. The final objective of a project audit is to ensure that the project meets the standards of project management through investigation and evaluation. As part of procurements closure, a structured overall review flushes out issues, sets-up lessons learned, helps ensure problems are resolved for future projects and also identifies successes and failures that warrant transfer to other procurements, Your email address will not be published. I followed your channel based upon my colleague's suggestion and the best part I liked about PMC Lounge is that it's cool & has a well-curated content, unlike other long boring videos. I am delighted to share that, I passed the PMP certification exam successfully with all domains Above target! Thank you kindly, I couldnt have passed my PMP exam without you. https://www.pmclounge.com/testimonials/raja-badal-capm/. A formal audit report is not issued in these cases. These include federal/state of Arizona/local laws and regulations, Arizona Board of Regents policies and procedures, management standards, and NAU policies and procedures. I have recently passed my PMP exam. Most of the audits/projects can be classified into one of the seven categories, but some are a combination of two or more of the seven categories. Lets take a closer look at what this is about and how to perform it in the best possible way. Maybe a lack of training or communication is the cause that led to the negative result? https://www.pmclounge.com/testimonials/ankit-mishra-pmp/. Identifying priorities, corrective measures and preventive actions can lead to a positive project outcome. Thank You! Just wanted to let you know that your youtube video is awesome. Providing reviews and feedback allows individuals and project teams to ponder their own performance. Thank you again and best wishes, https://www.pmclounge.com/testimonials/prakash-sapkota-pm/. I wish PMC Lounge continues this journey. I have passed PMP a few days back. https://www.pmclounge.com/testimonials/shaik-kaleem-pmp/, https://www.pmclounge.com/testimonials/sundus-ahmad-pmp/. When reviewing the design phase, a project audit evaluates the thoroughness of the design concepts, including the analysis of alternative designs. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Enter your email address to subscribe to PMC Lounge and receive notifications of new posts by email, Thank you PMC Lounge and Shoaib for all the wonderful materials and tips. Addition to my other learnings, these videos also helped me for better understanding. I have recently cleared My CAPM certification. Thank you PMC Lounge. May life bring you peace. Twproject is a highly flexible project management tool for teams of all sizes. I cleared PMP last week. It reviews the project life cycleevaluating the results yielded during the different stages, from the design phase to implementation. Content for each and every topic has been created very precisely. In order to achieve the benefits expected from a project audit, each stage, element and outcome of the audit process must be clearly set out and openly disclosed, including: When one or more projects fail to successfully complete an audit, this does not necessarily mean that the project manager or team are at fault.. Perhaps the project management standards are not adequately scaled and tailored to the needs of the project or organization? The work of the NAU internal audit staff generally falls into the following seven risk categories. His videos and posts helped me clarify some critical topics. A big Thanks to PMClounge and Shoaib. I had gone through all of your video tutorials, all of your tutorials helped me a lot with my preparation. Thank you for these videos and for making them free. https://www.pmclounge.com/testimonials/muhammad-umair-riaz-pmp/. Similarly, you can also audit and gauge the effectiveness of the risk management processes in the project as a whole too, Procurement Audit is part of Closing process group. I passed the CAPM exam last Friday achieving above target on twelve of the thirteen topics (the last achieving target) and I attribute it to your videos. IS audits at NAU are often performed by the Arizona Board of Regents IS Auditor. The audit also helps to improve the budget and resource allocation. Project Audit is not the best of times for a Project Manager for sure but did you know the various types of Audits mentioned in the PMBOK? Furthermore, it is assessed whether the solution is ready for the pilot test and finally, during the implementation review, the project audit assesses and confirms the implementation at each site where the product is adopted. Thank you! Whenever i dont understand a topic on PMBOK, I used to refer to your videos. Alhamdulillah, I have completed my PMP certification. Passed my PMP exam with 'Above Target' in 4 domains & 'Target' in 1. https://www.pmclounge.com/testimonials/arif-shah-syed-pmp/. Firstly I was unable to find the way where to start but your video instructed me in a proper way. I sat for the PMP Test on 26th Dec and cleared it in my first attempt. The PMC Lounge channel is one of the very best resources on YouTube for aspiring PMPs, the videos are extremely clear, not distracting and superbly delivered by Shoaib Qureshi. Below are the five main objectives of a project audit: A project audit acts as a quality assurance tool. Your videos where a material very important for this achievement, I saw almost half or your YouTube videos, this helped me clarify many doubts an improve my project management vocabulary in English (my mother language is Spanish). Ensure the quality of products and services, 2. I thank you with all my heart for doing such a wonderful job. You are a Rockstar!! Thank you so much for making those Playlists.
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