B03 - Make a go/no-go decision
This management activity belongs to the Monthly Initiation group. This group of activities are done in the beginning of each month to prepare us for a new monthly cycle.
Note: This is a draft of the second version of P3.express. Comments are welcome!
At this point, the sponsor has to make a new go/no-go decision based on the new plans. They may make the decision by themselves, or arrange it with others such as the portfolio management system.
If it’s decided to stop the project, the project closure activities will be run, and you can decide whether or not to have the post-project management cycle.
The goal is to make sure the project is still justifiable, and remind everyone that there’s a goal for the project, above the sum of isolated specialist activities.
The sponsor has to take this management activity seriously, and not approve the project automatically without inspection. It’s important for everyone to understand that cancelling projects is a sign of good project management.
Sometimes a project may be justifiable when evaluated in isolation, but it may not be as justifiable as other possible projects that you can run. As a result, a holistic perspective is necessary when evaluating the continuous justification of the project, and it’s best done in a single portfolio management system that oversees all the projects in the company.
The following principles have a significant role in this management activity: