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Procurement Audits

A systematic examination of contracts and the end-to-end procurement process to verify they are complete, accurate, and producing the intended outcomes, while capturing lessons to improve future procurements.

Key Points

  • Conducted during or after Control Procurements to identify what worked, what did not, and how to improve.
  • Reviews contract files, SOWs, change orders, approvals, invoices, and performance records for compliance and traceability.
  • Often led by an independent auditor or PMO to ensure objectivity; results feed lessons learned and process improvements.
  • Findings can trigger corrective actions, updates to templates and checklists, and help detect risks, noncompliance, or fraud.

Example

Midway through a project with several vendors, the PMO performs a procurement audit and discovers missing approvals on change orders and inconsistent acceptance criteria. The team standardizes forms, updates the contract change process, and retrains staff, reducing payment disputes and improving vendor performance for the remainder of the project.

PMP Example Question

Which activity systematically examines procurement documents and practices to confirm they are complete, correct, and effective, with the intent to improve future procurements?

  1. Procurement audits
  2. Inspection of deliverables
  3. Performance reviews
  4. Contract change control

Correct Answer: A — Procurement audits

Explanation: Procurement audits specifically review contracts and procurement processes for completeness, accuracy, and overall effectiveness, and capture lessons learned. The other options focus on product quality, team performance, or managing changes, not the end-to-end procurement process.

Advanced Project Management — Measuring Project Performance

Move beyond guesswork and status reporting. This course helps you measure real progress, spot problems early, and make confident decisions using proven project performance techniques. If you manage complex projects and want clearer visibility and control, this course is built for you.

This is not abstract theory. You’ll work step by step through Earned Value Management (EVM), learning how cost, schedule, and scope come together to show true performance. You’ll build a solid foundation in EVM concepts, understand why formulas work, and learn how performance data actually supports leadership decisions.

You’ll master Work Breakdown Structures (WBS), control accounts, and budget baselines, then apply core EVM metrics like EAC, TCPI, and variance analysis. Through a detailed real-world example, you’ll forecast outcomes, analyze trends, and understand contingencies and management reserves with confidence.

Learn how experienced project managers monitor performance, communicate results clearly, and take corrective action before projects slip. With practical exercises and hands-on analysis, you’ll be ready to apply EVM immediately. Enroll now and start managing performance with clarity and control.



Take Control of Project Performance!

HK School of Management helps you go beyond status reports and gut feelings. In this advanced course, you’ll master Earned Value Management (EVM) to objectively measure progress, forecast outcomes, and take corrective action with confidence. Learn how WBS quality drives performance, how control accounts really work, and how to use EAC, TCPI, and variance analysis to make smarter decisions—before projects drift off track. Built around real-world examples and hands-on exercises, this course gives you practical tools you can apply immediately. Backed by our 30-day money-back guarantee—low risk, high impact for serious project professionals.

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