IT Project Audit Service
Maximize the probability of your project's success while minimizing risk and uncertainty
Speedware's Modernization Project Audit service provides an objective, third-party evaluation of your project's health with recommendations for success so you can move forward with peace of mind. Speedware has been providing IT solutions for over 30 years, and has helped hundreds of customers complete their modernization projects successfully.
Reduce the risk of project failure
To remain competitive in today's market, organizations are undertaking large and complex modernization projects designed to update aging legacy computer systems and improve corporate performance. Depending on the size of the organization, these modernization projects can cost millions of dollars and take many months or years to complete. Given the cost, resources and time required, successful completion is the goal but is often difficult to achieve.
U.S. studies have shown that 18-31% of IT-related projects will be cancelled before completion and that more than half will incur cost overruns of 56% to 189%. Recent trends show some improvement in the absolute success/fail ratio, but the number of "challenged" projects remains consistent over the years: a staggering 53% of all IT projects are completed late, over budget and under scope.1
Subsequent studies identify key factors that contribute to the likelihood of project failure. New or unproven technologies, poor estimates or poorly defined project requirements all contribute to IT project failure.
With so much at stake, companies need systems to ensure a modernization project is successful. Speedware's Modernization Project Audit service is a tool that can help you minimize the risk of your modernization project failing.
Speedware's project audit can uncover the issues and challenges typically encountered in the execution of an IT project while focusing on producing a successful project result. We provide a comprehensive evaluation of the project's health along with suggestions and best practices for improving project organization and management. Project managers, project stakeholders and the project team all benefit from an examination of what has gone well and what needs to be improved with the project in order to complete it successfully.
With our extensive experience in modernization and migration, Speedware specializes in large and complex IT projects that involve the transition of legacy systems. Our experienced project audit service team follows a proven audit methodology and provides recommendations for project improvement focus on a variety of key areas.
Project governance
Speedware's experienced project team will examine how the project is administered, including an investigation of the communication processes, steering committee and decision-making process. We help assure accountability and continuity by the appropriate team members.
Project management
The project team also reviews the organizational structure, roles, accountability, methodology and processes involved in the project, as well as the tools and metrics used to manage issues such as scope, schedules, costs, defects and risk.
Vendor management
An investigation into the subcontractors, outsourcers and third-party vendors involved in the project will be performed. Our qualified experts determine who is responsible for the various relationships, and whether communications between all parties are effective. In addition, they will evaluate the roles and responsibilities, what deliverables are expected and whether there is "synergy" between the customer and vendor.
Technical evaluation
With a deep understanding of a broad variety of technologies, Speedware's project audit team reviews where the project started, where it is heading and how it will achieve its goals, from a technological point of view. They provide a technical analysis of the project architecture and design, including areas such as database, infrastructure, application design, framework, planning, level of automation, standards used for coding and migration, deployment strategies and transition planning.
In terms of the value it offers, an audit becomes an inexpensive insurance policy against the possibility of project failure. A project audit costs a fraction of the potential overrun costs or the internal costs of time overruns. While the performance of a project audit is invaluable at any stage of the project lifecycle, there are certain key times at which an audit will provide the most value.
Speedware can perform a project audit can at any point in the modernization project's lifecycle, but ideally an audit should be performed more than once - preferably every six months, or at the completion of significant milestones. According to industry analysts at Gartner, "A common cause of cost overruns is failure to deal promptly and objectively with problems that cause the entire monthly run rate of the project to be dragged out. Identifying these possibilities in advance and thinking them through before launching a project can mitigate the consequences."2
Prevent problems
During the early stages of a project, the audit service can be used as a preventive measure, while there is still an opportunity for correction and intervention. The audit will identify the project's strengths and recommend the proper controls to avoid future problems.
Correct the course
If a project is deviating off-course, Speedware's project audit service can detect the troubled areas and identify what may have caused problems. Subsequently, our audit team will propose alternative courses of action or restorative measures that can ensure that the project is re-aligned to achieve its goals.
If a project is unsalvageable in its current state, an audit can provide the information necessary to justify a termination decision and can provide termination strategies and tactics.
Establish guidelines for the future
When performed at the end of the project's lifecycle, the audit serves as a forensic review resulting in success criteria and guidelines for future projects. The audit is ultimately a tool that allows you to avoid past mistakes and identify the project elements that were managed well.
Regardless of when in the project's lifecycle it is performed, Speedware's modernization project audit delivers valuable information and recommendations that will increase the chances of your project's success.
1CHAOS Report, 1994-2004. The Standish Group
2Gartner, Toolkit: How to Assess Project Risk. , Matt Light and Michael Gerrard, 26 January 2007
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