Strengthening power grid projects' governance and sustainability through lifecycle auditing.

Power-grid projects are inherently complex and characterized by significant risks and uncertainties. This study examines the application of lifecycle auditing (LAud) to enhance project management and risk control in power-grid development. Through a qualitative case study approach, the study examines the implementation of a full-process LAud model within a state-owned organization's internal audit framework, analyzing data from 29 completed power-grid projects and incorporating expert interviews. The core outcome is the development of a comprehensive LAud framework that covers all critical stages of power-grid projects' lifecycle, from initiation to post-completion audit. This framework, tested through a pilot program, has led to the creation of a new workflow and a fully functional digital platform for LAud. The results demonstrate that LAud can enhance project governance and sustainability by enabling real-time monitoring, proactive risk mitigation, and continuous data integration, addressing the limitations of traditional auditing methods. The study contributes to the theoretical understanding of continuous auditing in complex infrastructure projects and provides actionable insights for improving governance and sustainability practices in power-grid projects. It also provides actionable insights for improving project oversight in power-grid systems and supports the sustainable development of the electricity sector by fostering transparency, efficiency, and resilience.