Before, During, After: Benefits of Periodic Project Risk Reviews

Large projects and system implementations are challenging and costly endeavors that often encounter significant schedule delays and/or budget overruns. Institutions are increasingly engaging Internal Audit to assist with conducting periodic project risk reviews as a critical component of their project lifecycles and system implementations. These reviews provide objective assessments of their projects, proactively identify risks and challenges, remediate issues and increase the overall likelihood of achieving their projects’ goals. This presentation will address how Internal Audit can conduct project risk reviews to increase the likelihood of project success. We will discuss other key benefits of project risk reviews, such as enhanced insight into the actual performance of projects and mitigation of the overall risk that projects will not achieve goals within the planned schedule, scope and budget. Throughout the discussion, presenters will share their experiences from working on large IT projects, highlighting common risks, issues encountered and lessons learned from conducting project risk reviews.

Speakers: Ian Sterrett, Health System IT Audit Manager, Duke University; Mike Cullen and Michael Wright, Senior Managers with Baker Tilly

Attendees should be able to do the following upon conclusion of the webinar:

1. Understand the nature of project risk reviews, their intended benefits and how Internal Audit can help mitigate risks and increase the likelihood of success for large projects
2. Anticipate risks and issues typically associated with large projects in higher education
3. Leverage lessons learned and activities performed by others when conducting project risk review

Field of study: Auditing
Category: Information Technology
Program Level: Overview
Location: Virtual
Type of delivery method: Group-internet-based
Prerequisite: None
Advance preparation: None required
CPE Credit: 1 Credit
Cost: Complimentary

Materials: