Essential Project Investment Governance and Reporting: Preventing Project Fraud and Ensuring Sarbanes-Oxley Compliance

As we have stated in earlier chapters, every strategic project investment should be mapped to a specific corporate objective. In this manner, business alignment becomes more established and the safety net for project delivery is created and strengthened as the alignment model becomes more and more developed. Imperative to this alignment is the project tactical detail that identifies progress according to the project schedule. Managing the project schedule in a critical path manner provides ongoing assessment to interested parties about how they should react to project delivery progress. Most of the time, everyone wants to know if the project will deliver on time and/or on budget. In other scenarios, project team members may want to know when they will receive work product output from project tasks they may be waiting on. In general though, people really want to know ONLY what will impact them. When people limit their need for awareness in project delivery, they are in essence limiting how much energy or time they will spend considering information. They do not care about anything else. People who seek to commit project fraud look for these types of opportunities where no one is watching. You can prevent this by becoming more observant about project delivery risk, good and bad. You can also help prevent and detect project fraud by making the results of your work more visible. This does not really cost you any more, but it could save your work, your project, your department, etc.