Regularly, at the beginning of all my consultation workshops, I ask my clients this question: is this the right project or business for you? Mostly, my clients replied confidently with Yes! However, this answer often changed after the second question I ask: Why you do think it's the right for you? and their answers kept changing with further question.
Generally, I use those questions as an entry to understand and measure the client's awareness about their project "or business". Besides, it's a part of my philosophy in consultation to educate client about how they can be able to manage their project properly.
"A part of my philosophy in consultation is to educate client about how they can be able to manage their project properly"
In fact, these questions were intentionally asked at this early stage. The reason of that, is they are not taken seriously by many clients! Yes, we spend a lot of time trying to answer them, but yet, we are doing that separately of other stages.
Honestly, these questions aren't simple as they look like! They're tricky, dynamic, and affected by many factors. And based on my experience, the success of any project "or business" is depend on when, how, and to whom you do ask this question.
WHEN
the "Right project" isn't one-time question, rather it's a continuous process that should embedded in all project phases. Mainly, the controlling and monitoring phase revolve on that question during the project period. Yet, the process stars in the beginning stage of project or business lifecycle. In project business management, we do call that the initial stage, where we can examine, judge, and decide if the project "or business" is right or not at that point. Therefore, we do have another related term which called "termination", which can be used if it's needed.
The reason for having these two terms in project business management procedure, is to deal with other topics related to this dynamic field through its stages. Topics such as, uncertainty, risks, contingency, quality, value...etc., which could make changes on the answer of that question in terms of scope, time, and cost.
HOW
Yet, that question comes in several format, something like; Are we on track? Why do we need to make change here or there? From where this over cost comes? Why we are behind the schedule? Was that planned? All those question format and others are related to "The Right project" question.
Therefore, their formats change accordingly to which phase the project at. Commonly, is the project manager role to tailoring these questions format during the planning phase. Nevertheless, the efficiency of that questions depends on the project manager skills and expertise.
TO WHOM
However, it worth to noted that determining the right project or business is not pre-stage of your project, rather is an essential process during the project business lifecycle. It can be said here, there is a different between determining if that the right project or not, and generating and selecting business idea!
Generating ideas for business is totally different process, and yes, it's a pre-stage of the project lifecycle, and still, it would also have phases such as; information gathering, creativity, evaluation and development.
Yet, the outcomes of this process need to be linked into the initial phase as input. Then, tools and techniques will conduct on the selected idea in the initial phase to determine if that the right project or not.
One of the essential tools for that, is to use an expert opinion, where the idea can be examined and judged professionally. Based on that, it easier to decide whether the idea is right or not.
That's why some project "or business" ideas will be terminated in early stage of project lifecycle phases.
LAST WORD
One more thing to say, terminating your project "or business" isn't bad or wrong, especially in early stages (before starting execution phase). In fact, it's a healthy action comparing to continue spending money and effort on the wrong project.
Yet, it will be more profitable to be determined that from the beginning. Well, that is possible by using an expert to assist you to answer those questions, so don't hesitate to hire a good one for your project.