How to Run an Effective Stage Gate Review | Summary and Q&A

10.0K views
December 12, 2019
by
Online PM Courses - Mike Clayton
YouTube video player
How to Run an Effective Stage Gate Review

TL;DR

Stage-gate reviews are a valuable governance process for project managers, ensuring readiness for the next stage and making informed decisions about project investments.

Install to Summarize YouTube Videos and Get Transcripts

Key Insights

  • 📽️ Stage-gate reviews are crucial for project managers to ensure project readiness and informed decision-making.
  • ❓ The process involves establishing the review, planning, evidence submission, conducting the review meeting, and producing a findings report.
  • 📽️ The review assesses actual progress, achievement of objectives, and any changes that may impact the project's viability.
  • ❓ The outcome can be conditional or unconditional approval to proceed, potentially with additional funding for the next stage.
  • 📽️ Stage-gate reviews also provide an opportunity for project managers to gather lessons learned and improve their project management practices.
  • ❓ It is important for the review to be conducted in a collaborative and constructive manner, rather than as an interrogation.
  • 📽️ External changes, such as shifts in requirements, technology, regulations, or financial constraints, can impact the project's viability.

Transcript

one of the most valuable governance processes for project managers is the stage gate review or sometimes referred to as the project gateway review or a boundary gate review we use gateway reviews to make sure firstly that we don't move forward in our project until we're ready until we've done everything we need to do to be ready for the next stage ... Read More

Questions & Answers

Q: What is the purpose of a stage-gate review?

The purpose of a stage-gate review is to ensure that a project is ready for the next stage and to make informed decisions about its continuation or investment.

Q: How does the stage-gate review process work?

The process involves establishing the review, planning the reviews, submitting evidence, conducting the review meeting, and producing a findings report with recommendations.

Q: What kind of information is considered during a stage-gate review?

The review team considers project documentation, such as the project definition, business case, project plan, work breakdown structure, and product specifications. They also assess changes in requirements, technologies, regulations, and other external factors that may impact the project's viability.

Q: What happens after the stage-gate review?

After the review, the project manager discusses the findings with the sponsor and senior team members. They then implement any necessary changes or recommendations to improve the project.

Summary & Key Takeaways

  • Stage-gate reviews are used to ensure that projects are adequately prepared before moving forward and to assess if it is still a good investment.

  • The process typically involves five components: establishing the process, planning the reviews, evidence submission, the stage-gate review meeting, and producing a findings report.

  • The review focuses on comparing actual progress with the plan, assessing if the project has achieved its objectives, and determining if there are any changes that may impact its viability.

Share This Summary 📚

Summarize YouTube Videos and Get Video Transcripts with 1-Click

Download browser extensions on:

Explore More Summaries from Online PM Courses - Mike Clayton 📚

Summarize YouTube Videos and Get Video Transcripts with 1-Click

Download browser extensions on: