Project Audit and Closure

Abstract

Regular use of project audits has yielded continuous improvements in project management. As more members
of organizations learn from project mistakes and the issues that contribute to project success, the process of
managing projects continuously improves in their respective organizations. As the project approaches the end of its
life cycle, people and equipment are directed to other activities or projects. Carefully managing the closure phase
is as important as any other phase of the project.
The article discusses some problems related to different kinds of project audits and the audit process. The
article also presents issues related to a project closure and an evaluation of a team and individual project performance.