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Chapter 2-7 (Identify Success Criteria (Is management on board with the…
Chapter 2-7
Identify Success Criteria
who will use the model?
Is management on board with the project?
will make success or failure at every step
important at end when decisions are made about implementation
can the model drivers be visualized?
How much value can the model produce?
Decide whether to continue
consider running a pilot program
cost/benefit analysis
feedback
want projects to either succeed or fail quickly to minimize risk
Foresee Risk
devils advocate
model being insufficiently predictive, or, alternatively too predictive
models to think through risk
model risks
ethical risks
privacy?
cultural risks
mission and factors leading to success that can stifle future growth
environmental risks
the external environment that provided data for your analysis has changed drastically
"black swan" scenario: ones understanding of reality can change from one moment to the next w/ intro of new info