GMS 450 Lecture Notes - Lecture 12: Sunk Costs, Financial Audit, Feasibility Study
4 Mar 2016
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Document Summary
Evaluation: appraises the progress and performance of the project relative to . The goal and objectives set for it during the selection process. Projects should be evaluated at key points in the project life cycle. Purpose is to improve process of carrying out future projects. Such as the level of commercial success for external projects and reduced throughput time for internal projects o o o. Items to consider for project evaluation report recommendations. Identification of risks in the organization"s use of projects. Utilization of the skills resulting from project members" work on projects. Employment of general management experience gained by project managers. Increasing the speed of obtaining results in projects. Measuring performance against planned budgets and schedules o. Measurement of actual expenditure and earned values: more complicated. Project auditing: a special type of evaluation is the formal audit. Broader in scope and may deal with the whole or any part of the project.
