The purpose of the Decision Review Board is to improve opportunity decision quality and execution quality by ensuring:
- Opportunity objectives and priorities are clearly articulated/documented, and are based on current business information
- Opportunity scope, budget and schedule meet business needs,
- Decision and risk analysis assumptions, business case and economic review are sound.
- Key opportunity management principles are being followed
- Opportunity execution planning and value improving practices are being applied and
- Funds and resources for each ORP phase are identified and justified.
An active, effective multi-functional Decision Review Board will improve the quality of key decisions made during the course of a opportunity because the board is composed of members who:
- Understand the strategic importance of the opportunity,
- Have broad knowledge of the business and/ or technology involved,
- Understand the economics driving the opportunity and risks to economic success,
- Represent key stakeholders impacted by the opportunity,
- Have experience in best practices utilised in similar projects and
- Understand ORP principles and work processes.
Attributes of a successful Decision Review Board:
- Active, positive leadership by opportunity executive/sponsor.
- Each member is prepared for and actively engaged in the review and the DRB responds flexibly to the timing needs of the opportunity team.
- Members respected by the opportunity team for their knowledge and experience.
- A wide range of views and opinions openly discussed.
- Knowledge and experience from throughout the company (cross- Bus and JVP’s as appropriate) is shared and considered in reaching a decision.
- Consensus is reached on decisions and actions either to move the opportunity forward or backward or stop.
- Each member of the board considers the work of board to be critical to the success of the opportunity.