(Salvo: Singapore) -- Business projects rarely go through the entire project cycle without some surprises. Reasons for this include changing  requirements, a larger-than-anticipated cost of project, and flawed technical architecture, among others. Often, project teams realize too late the situation they are in before any solutions can be applied to save the project from deteriorating economically.

The outcome of project failure is wasted dollars that steal investor profits and have a negative effect on the organization’s bottom line. This is where project auditing comes into play: An independent assessment of some or all aspects of the project can ensure that potential risks are prevented and ensure that time scales and costs are not out of control. A full project-cycle evaluation at every necessary stage can maximize the opportunity to deliver projects on time and within budget, while meeting the requirements of all related parties.

The recession has increased the need for project audits more than ever. A precise and comprehensive project health check or audit should be conducted regularly to identify problems and overcome them before they snowball.

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