Page 153 - DMGT302_FUNDAMENTALS_OF_PROJECT_MANAGEMENT

Fundamentals of Project Management Anand Thakur, Lovely Professional University

Notes Unit 9: Evaluation and Termination

CONTENTS
Objectives
Introduction
9.1 Purposes of Project Evaluation

9.2 Conducting the Project Process Review
9.3 Project Auditing
9.4 Project Termination
9.5 Perform Project Closure
9.6 Review Project Completion
9.7 Summary

9.8 Keywords
9.9 Review Questions
9.10 Further Readings

Objectives

After studying this unit, you will be able to:

Know about purpose of project evaluation;
Understand about the project process review;
Know about project auditing.

Introduction

As the dictionary definition says, to evaluate a project is to attempt to determine whether the
overall status of the work is acceptable, in terms of intended value to the client once the job is
finished. Project evaluation appraises the progress and performance of a job compared to what
was originally planned. That evaluation provides the basis for management decisions on how
to proceed with the project. The evaluation must be credible in the eyes of everyone affected, or
decisions based on it will not be considered valid. The primary tool for project evaluation is the
project process review, which is usually conducted at major milestones throughout the life of
the project.

9.1 Purposes of Project Evaluation

Sports teams that practice without reviewing performance may get really good at playing very
badly. That is why they review game films—to see where they need to improve. In other words,
the purpose of a review is to learn lessons that can help the team to avoid doing things that cause
undesired outcomes and to continue those that help. The review should be called a lessons
learned or process review.
I have deliberately avoided the word audit, because nobody likes to be audited. Historically, an
audit has been designed to catch people doing things they shouldn’t have done so that they can

148 LOVELY PROFESSIONAL UNIVERSITY