Correct Answer: B
Explanation
procurement audit is a process that reviews the contracts and contracting processes of a project to determine the completeness, efficacy, and accuracy of the procurement process. It helps identify the lessons learned, best practices, and areas for improvement in procurement management. A procurement audit can help the project manager understand why there is an unexpected financial balance remaining at the end of a project with multiple suppliers, as it can reveal any errors, discrepancies, or inefficiencies in the procurement process that may have affected the project budget. References:
PMI, A Guide to the Project Management Body of Knowledge (PMBOK Guide) - Sixth Edition, Project Management Institute Inc., 2017, p. 487.
Project Victor, What is a procurement audit?, accessed on December 18, 2023.
Project Management Knowledge, Procurement Audits, accessed on December 18, 2023.