Infrastructure Advisors performed a specialized audit of an operational contract for a portfolio of 24 national museums in NYC, DC, and VA for the Smithsonian Institution. The scope included review of execution and management of the contract, as well as review of invoices, and necessary analysis to determine root cause of cost escalations. IA provided observations and recommendations for operational improvements including a) opportunities for cost recoveries, b) improvement opportunities to reduce overestimation of staff deployments, and c) improvement opportunities for the design and implementation of formal policies, processes and procedures including internal controls based on risk assessments. Our financial analysis of invoices identified specific reasons for cost escalation over the years.
