Pre-and Post-Development Audits

There are a number a stages in a project at which an audit must, or should, be undertaken. An independent audit may be necessary for the comfort of directors and/or financiers before the major finance is committed, but an internal pre-development audit is the opportunity for the management team to take stock of the project and reaffirm their confidence and commitment. Maxims for project success are given and a check list for pre-development audits is presented. The need of mid-development audits may arise and their brief will depend on the circumstances arising. A game theory approach to decision-making is demonstrated in which the alternative of fast-tracking a development is considered. At the conclusion of the project, before the team is disbanded, a post-development audit should be made. Valuable learning can come from this process which could give important guidelines for future projects and a check list is presented.