KnowledgeLeader Blog

Guide to Managing Large-Scale Business Projects

Posted by Protiviti KnowledgeLeader on Thu, Aug 10, 2017 @ 03:24 PM

It seems like everybody is wearing a lot more hats these days and finance leaders are no exception. Of course, this means that they are finding it increasingly difficult to balance the multitude of responsibilities and non-routine initiatives facing the finance function.

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Topics: performance management, project management, performance measurement, ERP, accounting/finance, change management

Auditing Travel Stories: The Good, the Bad, and the Risky

Posted by Aspen Plummer on Mon, Jun 10, 2013 @ 02:18 PM

In more than 20 years of experience as an auditor, I have had the good fortune to go on audit assignments and client meetings throughout the U.S. and in many countries of the world. Some trips were spectacular, landing me in the midst of great cities like New York, New Orleans and San Francisco. Others, however, put me in danger zones amidst civil war and natural disaster. If you’re a well-heeled auditor like me, you’ll appreciate the stories and advice I share in this article. If you have ever dreamed of getting that plum auditing role that includes travel, take note: it isn’t always what you imagined it to be. This article will help you understand the pros and cons of the traveling auditor’s life.

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Topics: Protiviti, information technology risk, Hot Issues, internal audit, Cross-border & Non-US issues, audit, project management, travel, audit assignments, network & internet security, Paul Pettit

Auditing IT Management: Aligning IT with Business Priorities

Posted by Sharise Cruz on Wed, May 15, 2013 @ 09:45 AM

The "Holy Grail" for IT has always been to be closely aligned with business efforts. For years, business has encouraged IT to focus on delivering business priorities. At the same time, IT has tried to be an integral part of business planning and align IT efforts and investments with business priorities. Ultimately, effective IT alignment really does require the ongoing and engaged involvement of all key participants. 

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Topics: information technology risk, Hot Issues, Dan Swanson, project management, IT infrastructure, IT strategy, IT investment management, ISACA

Business Risks and Best Practices in Project Management

Posted by Protiviti KnowledgeLeader on Wed, Oct 17, 2012 @ 07:00 AM
Project management is generally associated with the ability to apply expert knowledge, skills, tools, and techniques to project activities, in order to meet or exceed stakeholder needs and expectations.  Failure to manage project management risk can have serious ramifications:
  • The project may fail because of insufficient management and/or stakeholder sponsorship or support.
  • Projects may incur risks that increase exponentially with project size.
  • Inadequate sponsorship from leadership places the project at risk.
  • Lack of project metrics and management of results may cause projects to deviate off course.
The project may fail because the staff allocated to the project do not have sufficient expertise in the key project domains, nor are they empowered to make timely business decisions for their user communities.  Risk indicators include:
  • Insufficient experience in specific systems or technologies
  • Insufficient staff allocated to support the team
  • Roles and responsibilities of the project teams have not been clearly defined
  • Appropriate training for the project team has not been provided
  • A collaborative environment to encourage continual communication between team members and business units do not exist
A project management strategy has not been fully developed, nor has management or stakeholder support been obtained for the project.
For example:
  • A steering or executive committee has not been established
  • A project charter has not been developed and agreed upon by all parties involved
  • Executive and stakeholder buy-in has not been obtained
The project team may not be fully aware of the requirements of the system that they are delivering.  Risks include:
  • Team members are not aware of how the system must support operational requirements
  • Team members do not clearly understand interfaces and user requirements
Project management metrics and tools have not been developed or are not being actively utilized.  Indicators include:
  • Realistic milestones and milestone decision points with exit criteria have not been established
  • Cost, schedule, and performance are not continuously compared to the initial baseline
  • Performance metrics have not been established with threshold and objective criteria

Management Best Practices and Performance Measures

Develop a project management strategy and emphasize the importance of communication throughout the project.

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Topics: project management

What is Project Management Risk?

Posted by Protiviti KnowledgeLeader on Tue, Oct 09, 2012 @ 12:40 PM

Project management is defined as the application of knowledge, skills, tools, and techniques to project activities in order to meet or exceed stakeholder needs and expectations from a project. It involves balancing the competing demands of:

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Topics: project management

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