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Project Validation Checklist

 

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Project Validation Checklist Project Validation Checklist is a guide to help any organizations to inspect and validate candidate projects as corresponding to certain standards. With a help of this checklist you can establish project validation process to screen out applicant projects that do not fit through your multifaceted criteria.


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Establishing project validation process:

  • Understand definition of Project Validation;
    Project Validation is a process of getting a candidate project examined, justified, and accepted by a company for further realization.
  • Develop a conception of project validation that suits your organization and set project validation objectives (define what you want to reach with a help of validation process);
    Identify how a project should be examined to be approved as reasonable for the organization.
  • List all policies and requirements which a project should be validated against;
    Your validation criteria may include certain norms on the following policies:
    • Income (ROI);
    • Project impact;
    • Lawfulness;
    • Safety;
    • Riskiness;
    • Compliance with organizational strategy;
    • Technology;
  • Set certain criteria that a project will be validated against under terms of each policy;
  • Make sure the criteria used in this process are aligned with the goals of validation;
    Avoid validation aspects that are not really relevant to the purpose of validation.

Preparing a project for validation process:

  • Check whether a background for successful project validation exists:
    • Organization has necessary resources and funding to undertake a project;
    • Project’s scope and goals comply with the organization’s business strategy;
    • Organization has administrative potential and will to undertake a project;
  • Give expert review and appraisal to the project’s objectives and statements;
    Make sure everything is well-determined and meaningfully formulated.
  • Engage a team of different experts to investigate the feasibility of the planned work within the given project environment:
    • Review current level of project risks;
    • Approve value of project benefits;
    • Verify selected project methodology;
  • Arrange an expertise to approve all project technical documents and specifications;
    Inspect whether they are properly composed and technically fit.
  • Complete the project benefit assessment and ROI modeling;
  • Enable the financial experts to examine your income projection for the project:
    • Provide them with all necessary financial calculations and assumptions used on estimation;
    • Get a conclusion on correctness and feasibility of financial calculations;
    • Obtain investment analysis report to approve reasonability of investments;
  • Collect all necessary documentation to approve feasibility of the project;
    Obtain and file together all documents that you need to justify the project within organization.
  • Examine the project’s documents to approve their compliance with organizational norms;
  • Approach your organization’s project validation committee and submit documents to them;

Validation in terms of law compliance:

  • Make sure your project has all legal permits and allowances to comply with the applicable laws;
    Consult with your legal adviser regarding documents to be agreed with government.
  • Establish legal advisory to continually ensure project compliance with the legislation;
    Accreditation in accordance ......

 



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