Task: Project Approval Review
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Task: Project Approval Review
This task describes how to determine, from a business standpoint, whether or not this project is worth investing in.
Disciplines: Project Management
Relationships
RolesPrimary Performer:
Management Reviewer
Additional Performers:
InputsMandatory:
Business Case
Optional:
Risk List
Vision
Outputs
Review Record
Process Usage
Project Management
>
Conceive New Project
>
Project Approval Review
Main Description
The Project Approval Review is an important hurdle for a new project to pass. At this review, executive or senior
management will determine whether there is sufficient technical and economic justification for the business to
undertake the project.
Steps
Schedule Project Approval Review Meeting
The first step is to identify those individuals that should participate in the Project Approval process and schedule a
time for them to meet to review the project proposal. Most organizations have a standing management committee that
makes these decisions. Typically this committee would include representation from technical, financial, marketing, and
sales areas of the business.
Once the participants in the Project Approval Review Meeting have been identified, set a date/time for the meeting to
take place. It is important that you provide sufficient lead time to allow the participants to review the project
materials that will be used as the basis for the approval decision.
Distribute Meeting Materials
Prior to the meeting, distribute the project materials to the reviewers. Make sure these materials are sent out
sufficiently in advance of the Project Approval Review Meeting to allow the reviewers adequate time to review them. A
minimum set of work products that should be presented for review is:
Vision
Business Case
Risk List
Conduct Project Approval Review Meeting
During the meeting, the reviewers assess the merits of the proposed project. The objective is for the group to reach a
consensus decision whether to proceed with the project or not. Consider such things as the following:
Customer benefits provided by the product
Internal business benefits provided by the product
Technical benefits provided by the product
Can the project's costs be accommodated?
Is there an adequate Return On Investment (ROI)
Are the required resources available or acquirable?
Are early (Inception Phase) project commitments achievable?
At the end of the meeting, the reviewers should make their approval decision. The result can be one of the following:
Approved
The project will proceed. At a minimum, funds and resources will be made available for initial Inception Phase
activities.
Not Approved
There is not sufficient merit to proceed with this project
Decision deferred
More information is needed, or further investigation is required before an approval decision can be made.
Record Decision
At the end of the meeting, a Review Record is completed capturing any important discussions or action items, and
recording the result of the Project Approval Review. If the result was "decision deferred" a follow-up Project Approval
Review Meeting should be scheduled for a later date.
© Copyright IBM Corp. 1987, 2006. All Rights Reserved.
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