Does it stack up?
Essential practices of Step 2
- Evaluate your investment in the project: should you invest?
Balancing pros and cons
At the boundaries between each stage of your project, you need to secure a go/no-go decision. Between the first stage, Defining your project, and the second stage, Planing your project, that decision is based on the question:
Does this project make sense?
You need to evaluate what the project is and is not (its definition) and consider the extent to which it is consistent with what your organisation wants to achieve: its strategic objectives and its current priorities. If your project is consistent, then you must also consider the extent to which it appears to offer good value for money.
At the ...