Project Risk Assessment and Decision Support Tools

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Leadership (DECISION MAKING Page1)

1 – was a start date agreed upon?
2 – does this projects’ mission still exist?
3 – were bad decisions made?
4 – was an independent pre approval audit conducted?
5 – are the project’s 3 main objectives being met?
6 – is management willing to tolerate big risks?
7 – are decisions made in a timely manner?
8 – are current and previous decisions documented for future reference?
9 – is the proper organization type being used on this project?
10 – is mgmt will to partner with other organizations that may have greater expertise than it does?
11 – does mgmt have good relations with the partner (if it chose one?)
12 – if international – does mgmt have a foreign partner to assist in the projects implementation?
13 – does foreign partner understand the projects mission, vision, and current situation?
14 – does foreign partner have the experience that is required to complete this project?
15 – were the foreign partners references thoroughly checked before beginning the project?
16 – were the right resources delivered at the right time?
17 – were go / no go decisions made at various checkpoints? Should any such decisions be made now?
18 – mgmt make tough choices / trade offs?
19 – were any what if analyses performed on this project?
20 – is the project operating under severe constraints?
21 – does mgmt and its peer group (e.g. merged management) make decisions analytically or intuitively? Do the two styles clash?
22 – have there been many other or previous failures?
23 – is the project bad for the future of the firm?
24 – are senior mgmt actions consistent with the project?
25 – were key stakeholders identified for this project?
26 – is / was there written justification to initiate the project?
27 – was the project authorized?
28 – have similar / previous projects had a failure rate of greater than 33%?
29- Are all the contracts out there entirely necessary? Are/ were all contracts authorized?
30- Is there consensus on which alternative is cheaper? More expedient?
31- Is the project’s outcome measurable?
32– Have major initiatives been appropriately budgeted?
33– Have time frame for the initiatives been compressed?
34– Has senior management set a clear strategy?
35– Does project manager/ senior management ensure/ make day-to-day decisions and resource deployment are in line with the strategy?
36– Can senior management quickly translate strategic and operational decisions into action?
37- Are credible leaders/team members assigned to the initiatives?
38- Do team members skills match the jobs to be done?
39– Have multiple test failures been compressed into a single report? (Yes = bad)
40– Has project spending/ decision making/ actions evolved and adapted to threats or opportunities?
41– Is senior management committed to turn plans into reality?
42- When one problem happens, does it create major downstream problems?
43– Does senior management draw up action plans and implement them?
44– Does senior management/ project manager know how or if the money was spent?
45– Does project manager/ senior management have:
      a.)  a full and clear picture of what is happening in the project?
      b.)  Do they know what the actual struggles they are facing/ the activities, sections, departments that are struggling to meet      schedule and budget requirements/ efforts to catch-up) what is true/ not true/ real and not real?
      c.)Is this a common operational picture?
46– Is there a large gap between the product’s performance in the field versus performance in the laboratory? (Yes = bad)
47– Are the numbers in the original plan and the numbers being reported in periodic reports lining up with the schedule (is original schedule far behind, when compared to the current estimated time to complete)?
48– Is there quantifiable evidence of the effectiveness of the work which was/ being performed on overtime? (No = red)
49– Is senior management/ project manager able to review and approve contracts before they go into effect?
50– Is/ was there considerable pressure to complete this project on-time/ under budget? Pressure to keep the production line moving regardless of the circumstances?  Pressure to spend budget money in order to get quick results? (Yes = blue)
51- Project manager knows the percent of project left to complete? (No = red)
52– Is project on schedule to meet its original deadline? (No = blue). Is/ are major deadlines looming? (Yes = blue)
53– Does project manager/ senior management sometimes show up unannounced? (Yes = green)
54– Are the quality/ performance targets set high enough/ too high? (Yes = blue)
55– Is project spending a large amount of money for a small amount of improvement)? (Yes = bad).  Is the money being spent properly?
56-  Is project significantly over its planned overtime budget?  (Yes = bad)
57– Does a slow approval process impede the contracting process?
58– Does project comply with all applicable procedures and regulatory codes?
59– Does PM/ SM monitor performance before considering future project phases?
60– Are goods and services being procured at the best cost (has it been proven)?
61– Does SM/ PM ensure that money and other resources are used effectively?
62– Is leadership more comfortable with data and numbers/ figures than with people issues? (Yes = blue)
63– Is senior leadership seeing any positive effects coming from this project?
64– Are the project’s results commensurate with its cost?
65– Are test results consistent with other evidence available from this project?
66– Is the amount of work produced (to date) the most we should expect?
67– Does project have the required funding to meet its future obligations? (No = bad)
68– Does PM know which activities work and don’t work?  (Yes = good)
69– Does PM evaluate any early hit (high expense) to the budget and decide if it will become a problem to the project’s remaining phases? (Yes = good)
70– Is planned work being performed at the most effective time? (Yes = good)
71– Are activities being performed in a focused way? (Yes = good)
72– Has PM/ SM agreed on the criteria (metrics) that the project will be measured?