In this paper the authors discuss the challenges and rewards of building a graduate level Managerial Communication course around an experiential communication audit project. The purpose of the project was to provide MBA (Master of Business Administration) students with exposure to the real world responsibilities and demands of working in a complex organization while simultaneously demonstrating the crucial role that good communication plays in any organization. In this service-learning project, student teams collaborated with non-profit organizations to analyze communication effectiveness and offer suggestions for improvement. Participating students acknowledged their increased skills in the areas of communication, teamwork, interviewing, research and analysis. These students will be very marketable graduates who will become highly valued employees.