Forensic Project Audit: Financial and Contractual Management

Learning outcomes from the Module Descriptor/Specification:

Throughout the module you will asked to engage in a range of formative assessment tasks. These may be in the classroom or to be completed in between taught sessions. These formative assessment activities are designed to build your knowledge, understanding and ability to apply concepts learned in class.

In order to further equip you with topic specific knowledge and understanding, and help you develop your intellectual skills and abilities in this subject area of financial and contractual management, you are to individually produce a forensic project audit of a completed project. The location of sample international projects will be advised from the tutor from which to choose.

This assignment will draw on appropriate academic and practitioner literature, and will review the initial pre-investment analyses, the appropriateness of the contracting strategies applied, the form of contract applied and the effectiveness of these delivery decisions. It is a requirement of this assignment that your analysis considers the consequence of the project having an international footprint e.g. contractually and economically. It is expected that your critical evaluation will be properly structured and supported through �academic� research using appropriate and quality references which are cited correctly throughout. It is to conclude with an effective summary recording the positives and negatives of financial and contractual decision making on the project and recommendations for future practice. A separate references list must also be provided at the end of the document.

Learning outcomes from the Module Descriptor/Specification:

1. Critically appraise differing economic perceptions of business organisations as clients/sponsors, professional advisors (independent practice), and contracting organizations relevant to demand, supply, costs and revenues and the operation of markets.
2. Critically review a range of concepts, techniques and methods for performing project appraisal and feasibility investigations across the whole project lifecycle of projects from the concept phase through development to operation and termination
3. Discuss the key elements of internationally recognised contracts, the laws of obligation, the fundamental aspects in their administration and aspects of dispute resolution.
4. Recommend appropriate strategies for project selection and effective financial control in competition / collaboration; public/private sector interactions, and in the interpretation of economic data for resource forecasting.
5. Developing and reinforcing the ethical characteristics of a Northumbria graduate as you consider the values that underpin ethical approaches to project feasibility andjustification. You will have the opportunity to reflect on how these are linked to yourown values.

Introduction/Project Context (10%): The clarity and conciseness with which relevant aspects of the project background is explained including its importance to the� ponsoring organisation and other key stakeholders, its objectives and drivers along with its value. This should also include a broad outline of the international political, economic and social environments etc. in which the project was conceived.

Pre-Project, Project Execution and Post Project Analysis (70%). The breakdown of marks will be as follows:

Clear focus, precision and quality of the analysis of the range of project appraisal and feasibility concepts, techniques and methods used within the pre-project phase with clear referencing of any supporting data.

Critical evaluation (judgement) of the appropriateness, relevance and value of the decision making making prior to the decision to invest in the project.

Clear reference to the role of contracts in dispute resolution during the preproject phase.

Clear focus, precision and quality of the analysis of the range of project appraisal and feasibility concepts, techniques and methods used within the execution phase with clear referencing of any supporting data.

Critical evaluation (judgement) of the appropriateness, relevance and value of the decision making making during the project.

Clear reference to the role of contracts in dispute resolution during the execution phase.

Clear focus, precision and quality of the analysis of the range of project appraisal and feasibility concepts, techniques and methods used within thepost-project phase with clear referencing of any supporting data.

Critical evaluation (judgement) of the appropriateness, relevance and value of the decision making making after the project.

Clear reference to the role of contracts in dispute resolution during the post-project phase.

The work should set out its arguments in a clear and consise manner with specific care to ensure readability, good sentence structure, avoidance of jargon and explanation of acronyms, etc. Consideration should be give to the appropriate structure, with the formation of thematic paragraphs to create a logically flowing report. It will be beneficial to support the text with appropriate figures and tables. This also requires a suitable and proportionate Reference List.

Quality of Conclusion (10%):

The conclusion of the work be drawn from the preceding content, and effectively summarize the findings from each part of the decision making that has been evaluated. It should provide relevant recommendations for future practice for this type of project.

Business organizations and professional advisors have different economic perceptions due to their distinct roles and objectives. The economic perceptions of business organizations are focused on maximizing profits, increasing revenue, and reducing costs. On the other hand, the economic perceptions of professional advisors are focused on providing high-quality advice and services that meet the needs of their clients.

From the perspective of business organizations, professional advisors are seen as service providers who can assist them in achieving their financial goals. These organizations view professional advisors as partners who can help them navigate complex legal, financial, and regulatory environments. Therefore, business organizations often evaluate professional advisors based on their ability to provide cost-effective solutions that can enhance the organization's financial performance.