Forecasting Due Diligence Checklist

Checklist to be used as a guide to navigate the 5 stages of the 6 Sigma DMAIC project methodology.
  • Mark all that apply.
  • DEFINE
    • Have you defined the project scope, objective, and schedule?
    • Have you defined the project team members?
    • Have you defined the stakeholders?
    • Have you gained authorization from the necessary project executive sponsors?
    • Have you assembled and trained the project team at a high level?
  • An appropriate benchmark has been chosen?
    • The Benchmark is based on statistical similar projects?
    • Average/median practice was used instead of best practice?
  • The benchmark has been compared to the forecast?
    • The variance of the forecast has been compared to the benchmark variance?
    • The forecast of ramp-up has been compared to the benchmark ramp-up?
    • The data used to create the forecast ramp-up has been provided?
  • The forecaster's track record has been reviewed and considered?
    • Did the forecaster provide ex post data on actual forecasting accuracy?
    • The available data for actual performance indicates accurate forecasts?
    • There is no "Bad Press" on the forecaster?
  • Further demand risks have been identified? Consider using PESTEL analysis:
    • Political
    • Economic
    • Social
    • Technological
    • Environmental
    • Legal
  • The expected outcome based on the benchmark analysis has been calculated?
  • The forecaster has been given the opportunity to respond to the analysis?
    • The forecaster's response is factual and supported by evidence?
    • The forecaster's response does not rely on the "uniqueness" of projects?
    • The forecaster's response does not rely on the "confidentiality" of projects?
*As based on original work by Professor Bent Flyvbjerg
 
See also Business Case Checklist and Benefits Review Plan Checklist