When software projects exhibit warning signs like chronic delays, missed milestones, and cost overruns, senior managers often turn to third-party experts for unbiased, comprehensive project audits. Impartial auditors deliver results that are credible to all stakeholders (including investors), an advantage when it comes to building consensus on a corrective strategy for a troubled project. This white paper describes our checklist- based, collaborative audit process that effectively diagnoses failing software projects, and sets them back on the road to recovery.