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Project Justification Checklist

 

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Project Justification Checklist Project Justification Checklist is created for the project managers to help them in approving their projects as reasonable, profitable and feasible. In this checklist you can find a set of items to justify your project in terms of its business case, working plans, financial parameters, results and risks. 


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Business Case Justification:

  • Identify and elaborate a problem to be resolved by a project;
  • Write a business case document as required in your organization;
  • Review “do nothing consequences” (what happens if a project is not undertaken);
  • Analyze cost-benefit relation of your project to know whether it really makes sense;
  • Recognize potentially negative sides of the project and prove that positive effects are stronger;
  • Indicate corporate strategies or plans that can incorporate and support the project;
  • Justify (prove) relevance of the business case for organization by explicit numbers;

Project Plan Justification:

  • Analyze a variety of alternate solutions that can be used to solve the same problem;
  • Identify and formulate criteria which will be used to select the best possible manner to act;
  • Make sure the solution proposed (selected) is the optimal one among the alternatives;
  • Examine feasibility of the project’s aims and actions explained in the plan;
  • Identify availability of resources and technologies involved into the work plan;
  • Test the delivery timeline to fit into timeframes of related corporate strategy and programs;
  • Justify reasonability of the project plan (make sure it is verified as cost- and time-effective);

Financial Justification:

  • Estimate the project costs (expenses related to staff, equipment, resources, etc);
  • Set up the maximal costs of the project (set reasonable restrictions on budgeting);
  • Define the potential revenue of the project (direct return on investments you expect to receive);
  • Calculate payback period (derive a point where the project starts to bring profit);
  • Identify whether a rate of return is appropriate to corporate standards;
  • Review and assess the project benefits (potential income or potential saving features);
  • Justify profitability of the project (make sure it complies with the organization’s ROI norms);

Risks Justification:

  • Review the risks related to the project (environmental, economical, administrative, etc);
  • Assess the risks to define the most probable and severe ones among them;
  • Identify interproject and contractor dependencies (make sure they are not too critical);
  • Select and plan specific countermeasures to reduce each of these risks;
  • Prove that the level of project risks is appropriate to corporate standards;
  • Justify feasibility of the project (prove that risks aren’t strong enough to endanger success);

 Justification of Specifications:

  • Design and verify the features of the project deliverables with the project owner, and document them as appropriate;
  • Analyze technical requirements to produce the project products of required quality and features, and specify them in technically specific terms;
  • Approve specifications of the project deliverables as reasonable and suitable to project goals;
  • Approve specifications of the project deliverables as explicit and technically correct;
  • Design and justify appropriate quality measures, objectives ...


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