Forecasting Due Diligence Checklist

• 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?