| | Excerpt from WWW.FullCost.COM, © 2020 N. Dean Meyer and Associates Inc.
Benefits of a self-assessment....
- Head's up: Don't be surprised by questions and challenges raised by clients and auditors. Stay a step ahead of them by knowing the problems before (and better than) they do. This gives you a chance to prepare your responses, or (better yet) to fix the problems before you're challenged.
- Disarm: Nothing is as effective in defusing an attack as being honest and open, and admitting your own weaknesses. This builds trust, and generally buys you time to fix any problems.
- Validation: An outside expert noting what you've done right is a stamp of approval that builds confidence and trust, and fends off ill-founded criticism.
- Choose your timing: If you haven't yet released your cost model, you may have time to decide whether to proceed with the release or hold off a bit and fix any remaining problems.
- Plan your next steps: If you have released your cost model, an objective assessment may help determine your strategy for next steps, and justify an investment in taking your cost model to the next level.
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