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.
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.
Topics: Protiviti, internal audit, audit, information technology risk, Hot Issues, project management, travel, audit assignments, network & internet security, Cross-border & Non-US issues, Paul Pettit
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.
- 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.
- 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 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
- Team members are not aware of how the system must support operational requirements
- Team members do not clearly understand interfaces and user requirements
- 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.
Topics: project management
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:
Topics: project management
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