1. 1 Evaluating and Terminating the Project Key Concepts EvaluationMeasurement Auditing the Project

2. 2 Background A project evaluation appraises the progress and performance relative to the project’s initial or revised plan. A project evaluation appraises the progress and performance relative to the project’s initial or revised plan. Also appraises project against goals and objectives set for it during selection process. Also appraises project against goals and objectives set for it during selection process. Projects should be evaluated at a number of crucial points. Projects should be evaluated at a number of crucial points. Purpose is to improve process of carrying out project. Purpose is to improve process of carrying out project.

3. 3 Evaluation Criteria Original criteria for selecting and funding project Original criteria for selecting and funding project Success to date Success to date Business/Direct Success Business/Direct Success Future Potential Future Potential Contribution to Organisation’s Goals Contribution to Organisation’s Goals Contribution to Team Member Objectives Contribution to Team Member Objectives

4. 4 Measurement Measuring performance against planned budgets and schedules straightforward Measuring performance against planned budgets and schedules straightforward Earned value analysis more complicated Earned value analysis more complicated

5. 5 Project Auditing The Audit Process The Audit Process Timing depends on purpose Timing depends on purpose Three Levels Three Levels general audit general audit detailed audit detailed audit technical audit technical audit

6. 6 Steps in Project Audit Familiarise audit team with requirements of project Familiarise audit team with requirements of project Audit project on-site Audit project on-site Write up audit report Write up audit report Distribute report Distribute report

7. 7 Behaviour Aspects Audit team must have free access to anyone with knowledge of the project Audit team must have free access to anyone with knowledge of the project Project team members rarely trust auditors Project team members rarely trust auditors Audit team must understand politics of project team Audit team must understand politics of project team Information must be confirmed Information must be confirmed Project team should be made award of in-process audit Project team should be made award of in-process audit No judgmental comments No judgmental comments

8. 8 The Audit Report Introduction Introduction Current Status Current Status Future Project Status Future Project Status Critical Management Issues Critical Management Issues Risk Analysis and Risk Management Risk Analysis and Risk Management Final Comments Final Comments

9. 9 Project Termination When to Terminate a Project When to Terminate a Project Sunk Cost Approach Sunk Cost Approach whether organisation is willing to invest the time and cost required to complete the project whether organisation is willing to invest the time and cost required to complete the project Two Other Criteria Two Other Criteria the degree to which the project has met its goals the degree to which the project has met its goals the degree to which the project qualifies against a set of factors associated with success or failure the degree to which the project qualifies against a set of factors associated with success or failure

10. 10 Types of Project Termination Types of Project Termination Project Extinction Project Extinction Termination-By-Addition Termination-By-Addition Termination-By-Integration Termination-By-Integration Termination-By-Starvation Termination-By-Starvation

11. 11 The Termination Process The Termination Process Decision made by broad based committee of senior managers Decision made by broad based committee of senior managers Termination process should be specified in project plan Termination process should be specified in project plan Termination manager Termination manager

12. 12 The Project Final Report The Project Final Report Project Performance Project Performance Administrative Performance Administrative Performance Organisational Structure Organisational Structure Project Management Techniques Project Management Techniques