Project development stages

Initiation

The initiation stage determines the nature and scope of the development. If this stage is not performed well, it is unlikely that the project will be successful in meeting the business’s needs. The key project controls needed here is an understanding of the business environment and making sure that all necessary controls are incorporated into the project. Any deficiencies should be reported and a recommendation should be made to fix them.

The initiation stage should include a cohesive plan that encompasses the following areas:

    * Study analyzing the business needs in measurable goals.

    * Review of the current operations.

    * Conceptual design of the operation of the final product.

    * Equipment requirement.

    * Financial analysis of the costs and benefits including a budget.

    * Select stake holders, including users, and support personnel for the project.

    * Project charter including costs, tasks, deliverables, and schedule.

Planning and design

After the initiation stage, the system is designed. Occasionally, a small prototype of the final product is built and tested. Testing is generally performed by a combination of testers and end users, and can occur after the prototype is built or concurrently. Controls should be in place that ensure that the final product will meet the specifications of the project charter. The results of the design stage should include a product design that:

    * Satisfies the project sponsor, end user, and business requirements.

    * Functions as it was intended.

    * Can be produced within quality standards.

    * Can be produced within time and budget constraints.

Production or execution

The execution stage includes the actual implementation of the design or plan. In software systems, this includes conversion (transfer of data from an old system to a new system), documentation, and training. From an auditor's perspective, training is also important because it helps users use the software correctly. The bulk of the project's work and largest capital expenditure is realized in this stage.

Closing and Maintenance

Closing includes the formal acceptance of the project and the ending thereof. Administrative activities include the archiving of the files and documenting lessons learned.

Maintenance is an ongoing process, and it includes:

    * Continuing support of end users

    * Correction of errors

    * Updates of the software over time

In this stage, auditors should pay attention to how effectively and quickly user problems are resolved.

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