Look Back Analysis
This paper depicts various ways to conduct post implementation audits of a health care finance institution. This review determines if the information that was submitted initially was correct. It also incorporates the predicted outcomes that happened and the lessons learnt to improve the analysis. Assessing the Return on investment project, it is essential to incorporate eight steps to enhance a successful Post Implementation Audit PIA.
Assessing the Return on Investment (ROI), of this healthcare project, it is clear that for this project to be effective, there is a need to calculate the number of individuals who are using the system. This means that return on investment depends on the cost of ordering additional expenses. Conducting post implementation audits reveals relevance of the submitted information and the amount that this healthcare firm is saving annually (Levinson, 2003). The predicted outcome that occurred indicates that post implementation audit is significant because it saves the company funds that assist to develop its projects.
It is noted that post implementation audit in organizations, such as healthcare may take a long duration that could drain away valuable personal resources. Another predicted outcome of the look back analysis is that it is a project that needs reams of documentation for the results to be validated. The aftermath of the audit could impart fear to implementers and the sponsors of the plan to prove unfavorable by being against them. This implies that the CIO of this company should identify the right project to audit, incorporate the right people to have a positive predicted outcome.
The predicted lessons that I learned to improve the analysis is the urge to conduct post implementation audit effectively. In this regard, this healthcare company needs to incorporate the right people in the project. The timing of the audit should also be done in a proper manner and individuals who take part in this plan should be in a position to collect sufficient documentation. This is to be in a position to allow them to facilitate smooth execution of post implementation audit. Furthermore, it is vital for leaders to select right projects to audit and CIOs should share various key traits. This is to ensure that the PIA becomes a sustained practice in the firm. I also learned that the CIOs should be committed in this project for a continuous improvement. This implies that for the plan to be successful, they should have PIAs as part of their project management methodologies, and secure support from their CEOs.
It is evident that firms that do not perform PIAs miss out on vital benefits that the data provides. According to a CIO survey, the prevalent use of audit makes an organization to be highly effective in its operations. In addition, PIA offers a thorough approach that proves high cost value for mission critical IT investments. This is to ensure that the gleaning project management incorporates best practices that CIOs can apply to maintain subsequent projects on track (Levinson, 2003). To improve the analysis, I learned that CIOs could apply for these practices to keep subsequent projects on track. This means that during the time when the value of CIOs, IT investments and departments are under increased scrutiny, PIA contributes to success of the organization. In addition, the current pressure on business and responsibility of IT aid organizations and business units to understand where dollars are being invested.
It is always significant to engage the right people when working on post implementation audit. For instance, reliable individuals who perform PIAs include IT members of project implementation team. Business members are also right people to involve in the project with representatives from a firm’s internal audit department. An effective PIA team should incorporate a business and IT person in the implementation, and an independent person should lead the project. The leader should be someone independent, such as an internal auditor who is not part of the project team. For a successful PIA, it is vital to have a group of individuals from different sections to participate rather than having only members of the IT team.
However, the advantage of involving IT team individuals is that they are familiar with deliverables, benefits, and the needs of the project. It is important to involve a business person in the audit team. This individual can easily determine whether an external factor rather than a system failure is causing the system to fail to generate the expected value. Furthermore, an independent auditor should be part of the analysis because he/she is brave in aspects that concern tough questions (Levinson, 2003). As a result, this will hinder members of the project team who are involved in audit from interrupting with findings.
To conduct post implementation audits well, it is good to conduct it at the right time. This depends on the deployed application or the type of system and the duration of time which the project will take. This should happen before the application starts to generate data and results, and the time, which the staff takes to be acclimated to the new procedure and system. It is recommended for an audit to take place within a year of implementation. It is also vital for the audit analysis to ensure that the system is on and running to have sufficient data that can last for long. Experts add that if a company implements a financial system that gives results once a quarter; the audit team should wait for at least three to six month until the system generates sufficient data before performing a PIA.
An organization should also consider maintaining a meticulous documentation because it is a key aspect that contributes to a successful PIA. This documentation incorporates business case that indicates the expected costs of the system, the technical requirement of the system, its benefits, and return on investments. To improve this analysis, post implementation auditors should develop a project portfolio to develop a report on a monthly basis that depicts the cost of project, its schedule and milestones.
In general, I learned that if our organization fails to use PIA to identify ways to improve project management, we will not be realizing its full value. In this regard, team members who participated in the audit project should hold a meeting (Levinson, 2003). This is to discuss aspects that went well and wrong during implementation of the audit and to verify areas for improvement. I also learned that Sun life financial contribute by ensuring that it posts vital details on how to improve post implementation audits on the corporate intranet. In addition, Sun life financial provides annual reviews that reflect audits of different projects. The purpose of this is to identify common areas that require improvement and improve the entire auditing procedure.
Levinson, M. (2003, October 01). How to conduct post-implementation audits. CIO, http://www.cio.com/article/29817/How_to_Conduct_Post_Implementation_Audits
CIO (2003, October 01). http://www.cio.com/article/29818/Eight_Steps_for_a_Successful_Post_Implementation_Audit