A review to determine the project status as it applies to project plans, schedules, budget, staffing, training, and so forth. The monetary expenditures are compared with the budget, and differences between the budget estimates and actual project expenditures are explained. The completion dates are compared with the master schedule, and differences between the scheduled completion dates and actual completion dates are explained.
A management review is a management study into a project's status and allocation of resources. It is different to both a software engineering peer review, which evaluates the technical quality of software products, and a software audit, which is an externally conducted audit into a project's compliance to specifications, contractual agreements, and other criteria.