Audit and Controls

Audit and Controls

Table of Contents
INTRODUCTION...........................................................................................................................2
Project at target company............................................................................................................2
Background..................................................................................................................................2
Financial contract type.................................................................................................................4
Procurement method....................................................................................................................5
Risk Management plan................................................................................................................6
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Project management is the practice of initiation, planning, executing, monitoring and
closing the work which helps to attain the specific goals of a company. In the same way, the
current study is based upon the National Australia Bank (NAB) which is known under 5 bank in
Australia. For that the report will describe the target company and background of the case study.
Also, report determine different project procurement method and chooses the best out of them.
Further, report present different financial contract project type and recommend the best out of it.
Also, report will describe some procurement method and chooses the best one as well. Lastly,
report provide the risk management plan which in turn assist to meet the define aim and
objectives of NAB.
Project at target company
As currently NAB contacted 13000 customers to determine their personal information
and as it is 4th largest Australian bank in Australia and that is why, it is essential for the company
to make sure that the data is not misused by the third party. As the CEO of the company also
compromised that data is deleted within two days and unfortunately there is a fraud happened
and as a result, most of the company employees’ data got leaked. That is why, there is a need to
take proper that means 24*7 monitoring and for that new data application will be introduce so
that it will help to protect the misused of data. Also, the current project require huge amount off
investment and for that need specialist IT professor, project manager and project team in order to
deliver the project in better manner.
Background
NAB is introducing new online application for their employees and customers so that it
will not be used by another third party. For that proper log in Id and passwords are introduce so
that other than users it will not be used by another one. Also, this online application is actually
help the company to make sure that company provide proper quality of services to their users
and as a result, it did not cause any negative impact upon the company’s performance. Also, in
this modern era of the world, every company of any industry, uses advance technologies so that
it will help to save cost and time in order to manage the working performance level of the
company in better manner. Introducing the online application will require high amount of

investment and this is turn assist to minimize the issue which currently the company faces and
as a result, this will help to sustain the brand image of the company in better manner.
Project delivery method
Project delivery method is that system which is actually used by any company for a
structure and also facility by entering into the legal agreement with many parties. There aree
three main types of project delivery method such that:
Design-bid-build: One of the traditional method where a company contracts with the
separate entity for the design and construction of a project. This is an actual design process
which involves working with an architect and engineer in order to design a feasible plan at the
time of bidding process (Mosley Jr and Bubshait, 2017).
Design- build: The method is used for reducing the chances of risk for company and also
assigning authority to all. Through this method, company require less time and also tend to stay
on budget better than the design-bid- build projects.
CM@Risk: Another method of project delivery method which is commit by the
construction manager in order to deliver the project at GMP and it is also based upon the
construction documents. During this project delivery method, company will easily determine the
risk and also actively manage them in order to deliver thee project in better manner.
[1= best option, 2= preferred in the absence of 1, 3= less preferable]
Project delivery method Scoring
Design-bid-build 2
Design-build 1
CM@Risk 3
Among all, project manager chooses Design- build method because it is will assist to
reduce the risk to owner of the property because it may lead to increase the conflicts among the
project team. On the other side, using this method will also help not to pay any extra fees to the
legal department and as a result, it is consider one of the most cost effective strategy among all.