Do you have complete control over quality & cost progress?Steering your project requires the right and up to date information. It is strictly necessary to have a tailor-made budgeting & costing system as well as QA/QC planning and document management procedures right from the early start of your project!
Do you have a model that translates your business decisions into your project costs?When a business idea is in its first development stage (Front End Loading) the basis of your cost effects will be your planning while keeping other variables fixed. Changing your planning will also change your project costs and business case. With an investment model you may predict your costs far more accurately. It is recommended to have this procedure software supported.
Is your business case regularly and sufficiently challenged, also by independent parties?There are many external factors and changing conditions that may lead to time and costs increases, making your business case less or not achievable. You need to have a Project Value Process which enables you to decide whether to delay or cancel your project or to make your Final Investment Decision.