A completion test evaluates if a project has met its objectives and criteria for success. It assesses design specifications, performance, and cash flow to determine if the project should continue or be abandoned.
A completion test is a type of evaluation process that seeks to determine if a given project is truly a success. This is usually accomplished by identifying specific criteria that the project must meet in order to achieve the objectives defined for the effort. When test results indicate that the project is not meeting the goals and objectives set at the beginning of the effort, there is a good chance that the project will be extensively reworked or even abandoned in favor of a project that shows more promise.
One of the first phases of the completion test is to determine how well the project has met the specifications for the original build and launch. While some details of the structure may be refined as the project progresses, the idea is to ensure that the original focus has not been lost over time. If the design is found to be still relevant to those original goals, then the first phase is considered successfully completed and further evaluation of the project can begin.
After confirming that the design specifications are in order, the next phase of compliance testing will often focus on the level of performance achieved by the project. This involves determining whether each cycle within the project process is producing the desired results. For example, if the project involves the successful production of 1,000 widgets every eight hour period of a business day and the production is actually 1,200 widgets per eight hour period, then the project not only meets expectations but exceeds expectations. expectations.
Another key element of the completion test is determining whether the anticipated cash flow of the project is meeting the original objectives. At this point, the idea is to determine whether or not the project is progressing or has already reached the point of generating the expected returns anticipated at the start of the effort. This means that if the goal was to sell 30,000 widgets per month after the project had been in operation for five months, and the current sales volume is 31,000 units for that fifth month, then the results of the completion test indicate that the project is truly successful and is worthy of continuing as it is. Assuming that proof of completion indicates that the project has been successful, the launch can be considered complete and funding for the effort can move from recourse or temporary funding to permanent or non-recourse funding.
Smart Asset.
Protect your devices with Threat Protection by NordVPN
