4. Are Your Financial Records Accurate?
If you don’t estimate costs and record expenses accurately, you risk overruns and financial chaos on your project. By using effective cost estimation techniques, you can make better decisions about project spending and resource allocation.
5. Do You Have a Plan to Engage Stakeholders?
If you engage stakeholders by identifying and communicating requirements at the beginning of your project, you can avoid problems later. By analyzing needs and establishing a plan to support stakeholder input, you can make more effective decisions to manage project tasks and ensure that business, functional and user requirements are met.
6. Have You Identified All Potential Risks?
If you manage threats and opportunities effectively, you can maintain a focused balance that minimizes or eliminates events that can negatively impact the project and maximizes the chance to exploit positive events. By recognizing internal and external triggers, you can make good decisions.
7. Have You Completed Project Documents?
If you take the time to generate start-up project documentation such as a project charter and project plan, you can refer to it throughout the project. This enables you to make effective decisions and communicate your project status and progress towards completion.
8. Do You Manage Resources Effectively?
If you make decisions that enable the effective use of raw materials, human resources, equipment, supplies and information, you utilize your resources effectively. With efficient capacity planning and prioritization, you can optimize project performance. If some project resources are overworked while others are underutilized, you need to revisit some of your decisions to balance your resources more effectively.
9. Do You Communicate Effectively?
If you establish a plan to communicate regularly with sponsors, stakeholders and team members, you get the information necessary to make good decisions. Without feedback from key personnel, you won’t have the right level of data, validation or approvals to ensure project success.
10. Have You Built an Effective Team?
If your team experiences constant conflict and indecisiveness, your ability to achieve milestones and complete project tasks is diminished. Evaluating your decisions means you take the time to schedule team meetings and work with team members to solve disputes, troubleshoot problems and resolve issues to optimize project performance.