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What would be most effective with providing an IT auditor comfort that a project will be completed on time?
Estimation of the actual end date based on the completion percentages and estimated time to complete, taken from status reports
Calculation of the expected end date based on current resources and remaining available project budget
Extrapolation of the overall end date based on completed work packages and current resources
Validation of the target date based on interviews with experienced managers and staff involved in the completion of the project deliverables
Direct observation of results is better than estimations and qualitative information gained from interviews or status reports. Project managers and involved staff tend to underestimate the time needed for completion and the necessary time buffers for dependencies between tasks, while overestimating the completion percentage for tasks underway (80:20 rule). The calculation based on remaining budget does not take into account the speed at which the project has been progressing.
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