Establishing secure connection…Loading editor…Preparing document…

Project Management Options Review

This template is fully customizable. Edit the text, fill out the fields, and send it for signature. Give it a try!

PROJECT MANAGEMENT OPTIONS REVIEW

Project Identification

Client Name:    Client Contact:

Project Manager:    PM Contact:

Date of Review:

Scope of Work — Options Under Review

Summary of current scope and the specific options being evaluated for execution, resourcing, or procurement.

Options Evaluated

Select which options were formally reviewed and provide a concise rationale, estimated cost and estimated duration for each.

Rationale:    Estimated Cost:    Estimated Duration:

Rationale:    Estimated Cost:    Estimated Duration:

Rationale:    Estimated Cost:    Estimated Duration:

Deliverables & Acceptance Criteria

Provide each major deliverable, a concise acceptance criterion and the target delivery date.

Acceptance Criteria:    Target Date:

Acceptance Criteria:    Target Date:

Timeline & Milestones

Overall project timeline and key milestones associated with the recommended option.

Proposed Start Date:    Proposed End Date:

Target Date:    Owner:

Target Date:    Owner:

Budget & Payment

Provide estimated costs associated with the recommended option and the proposed payment schedule.

Change Order Process

All modifications to scope, schedule or budget shall be governed by the following change order procedure. No change shall be implemented without a written change order signed by authorized representatives of both parties.

Risk, Assumptions & Dependencies

Recommendation & Acceptance

Based on the evaluation above, indicate the recommended option and any conditions required for approval.

Recommended Option:

Proceed with recommended option?   

Confidentiality

The parties acknowledge that information exchanged in the course of this options review may be Confidential Information. Each party agrees to restrict disclosure and use of such information to persons with a legitimate need to know in connection with evaluation and implementation. Confidential information shall not be disclosed to third parties without prior written consent, except as required by law. This confidentiality obligation survives the termination of any resulting agreement.

Governing Law

This Options Review and any subsequent agreements arising from it shall be governed by and construed in accordance with the laws of the state of , without regard to conflict of law principles.

By signing below, authorized representatives of the Client and the Service Provider certify that the information contained in this Project Management Options Review is accurate to the best of their knowledge, that the recommended option (if any) has been evaluated against alternatives and material risks, and that any approval given is subject to the conditions stated herein.

Client:

By:

Date:

Service Provider:

By:

Date:

Enter text✕
Prepare your document for signing right on this page
  • 01 Edit the text and complete the fields
  • 02 Click Sign Now and on the next screen add recipients and signature fields in SignNow
  • 03 Start your free trial to sign and send your doc
Sign Now

What the Project Management Options Review Is

A Project Management Options Review is a structured evaluation that compares alternative delivery methods, governance models, budget scenarios, and vendor or tool choices for a discrete project. It documents scope options, schedule estimates, resource requirements, risk assessments, and recommended governance so stakeholders can compare trade-offs, quantify costs, and decide which approach to approve or pilot.

Why Conduct a Formal Options Review

A formal review clarifies trade-offs between cost, schedule, and risk, reduces ambiguity for approvers, and creates a documented basis for selection decisions. It improves accountability by recording assumptions, contingencies, and decision criteria in one consistent format.

Why Conduct a Formal Options Review

Who Typically Completes and Uses This Review

The document is distributed to approvers and archived with project records once a selection is approved, forming part of the project initiation package.

  • Project Sponsor: Provides strategic context, budget authority, and final approval; reviews recommendations and risk tolerances before sign-off.
  • Project Manager: Gathers estimates, coordinates stakeholders, and drafts the comparison; responsible for accuracy of schedule and resource entries.
  • Procurement/Legal: Validates vendor terms, procurement constraints, and any required compliance or contract conditions prior to awarding work.

Essential Components of a Professional Options Review

A complete review organizes decision factors so stakeholders can compare alternatives quickly and consistently across scope, cost, schedule, and risk.

Scope Options

Clear descriptions of each delivery option, including included features, excluded items, and any phased or MVP approaches to narrow scope uncertainty.

Cost Estimates

Line-item budgets and total cost of ownership for each option, with assumptions, contingency reserves, and sensitivity ranges for high-variance line items.

Schedule Scenarios

Timeline projections showing critical milestones, key dependencies, and best-case versus realistic delivery windows for each alternative.

Resource Plan

Staffing needs, required contractor roles, licensing or tooling needs, and estimated labor hours tied to each option for budgeting and hiring.

Risk Assessment

Identified risks per option, probability and impact ratings, mitigation strategies, and residual risk after proposed controls are applied.

Decision Criteria

Scoring framework or weighted criteria (cost, time, risk, strategic alignment) that explain why a recommended option is preferred.

Step-by-Step: Completing an Options Review

Follow this sequence to gather inputs, evaluate options, and prepare the final recommendation for approvers.

  • 01
    Gather Inputs: Collect scope, quotes, resource estimates, and regulatory constraints from stakeholders.
  • 02
    Model Costs: Populate cost line items, contingency, and sensitivity scenarios for each option.
  • 03
    Assess Risks: Document risks per option with likelihood, impact, and mitigation steps.
  • 04
    Recommend: Apply decision criteria, score options, and prepare the recommendation summary and sign-off page.

How to Configure an Online Review Workflow

Set a clear routing and approval sequence in your workflow tool before distributing the review to approvers.

Field Configuration
Routing Order Sequential or parallel approvers configured by role or email
Authentication Email link, SMS OTP, or stronger KBA where required
Conditional Fields Show additional inputs when a high-risk option is selected
Notifications Automated reminders at set intervals until signed

Digital Distribution and Compatibility

Confirm audit trail capture, retention options, and any industry-specific compliance features before sending for signature.

  • File Formats: PDF, DOCX, and spreadsheet attachments supported
  • Integrations: CRM and document repositories via standard connectors
  • Authentication: Email OTP, SMS, and optional advanced methods

Where to Send the Completed Review

A clear submission path reduces approval delays; designate the primary repository and approval recipients in advance.

  • Approvals Queue: Send to sequential approvers defined in routing configuration
  • Procurement: Copy procurement and legal for vendor and contract checks
  • PMO Repository: Archive the signed review in the PMO document library
  • Project File: Attach the signed review to the official project record

Typical Timelines and Decision Deadlines

Define target dates for each stage to keep stakeholders aligned and to avoid procurement or budget cycle delays.

Submission Deadline:

Date the completed review is due from the PM — often two weeks from kickoff

Vendor Response Window:

Allow 7–21 days for vendor quotes depending on scope complexity

Decision Meeting:

Schedule governance approval within 7 business days of final submission

Contract Award:

Target execution within 14 days after approval to preserve pricing

Project Kickoff:

Begin execution within 30–60 days of contract award subject to procurement timelines

Common Mistakes When Preparing the Review

  • Using inconsistent cost bases across options, which leads to misleading comparisons and poor decisions.
  • Failing to document assumptions and rates, making post-decision audits or scope changes difficult to reconcile.
  • Omitting required procurement or legal checks, causing delays when previously undisclosed contract terms surface.
  • Not defining approval authority up front, resulting in rework and stalled sign-off cycles.

Risks and Consequences of an Incorrect Review

Budget Overrun: Higher costs than estimated
Schedule Delay: Missed milestones and launch dates
Contract Disputes: Vendor claims and potential litigation
Regulatory Exposure: Noncompliance fines or audit findings
Reputational Harm: Stakeholder trust erosion
Data Loss: Breach or inadequate recordkeeping

eSignature Vendor Pricing Comparison for Project Reviews

Basic pricing and capability differences that affect a review workflow, including starting price, trial availability, bulk send, audit trail, and HIPAA support.

signNow DocuSign Adobe Sign PandaDoc HelloSign
Starting Price $8/user/mo $15/user/mo $14/user/mo $19/user/mo $15/user/mo
Free Trial 7-day free trial Varies by vendor Varies by vendor Varies by vendor Varies by vendor
Bulk Send Yes Yes Yes Yes No
Audit Trail Yes Yes Yes Yes Yes
HIPAA Compliant Yes Yes Yes No No

Illustrative Use Cases from Organizations

Real-world examples show how a concise options review helps reach decisions faster and keeps project records auditable.

Optica Ventures — COO

The interface is simple and easy-to-use for our team; more importantly, it is just as easy for our customers.

  • Reduced turnaround time on approval by consolidating vendor quotes.
  • The review became the primary audit artifact for the board and cut follow-up clarification cycles in half.

Martin Properties — Founder

I can process and execute all of these documents online with 100% compliance and built-in security.

  • Enabled remote execution and faster lease approvals.
  • The documented options review reduced on-site signings and centralized approvals for property acquisitions.

Required Information and Security Controls

Project Identifier: Unique ID for tracking
Approver Names: Full legal names and roles
Signatures: Signed and dated entries
Audit Trail: Timestamp and action logs
Access Controls: Role-based permissions
Encryption: TLS in transit; AES-256 at rest

Key Milestones and Processing Stages

Sequential milestones for completing an options review ensure transparency from intake through contract award.

01

Intake and Scope

Collect requirements, initial assumptions, and stakeholder list at intake.

02

Estimate and Model

Produce cost estimates, schedules, and risk quantification for each option.

03

Review and Score

Governance panel reviews options and scores against decision criteria.

04

Approval and Archive

Document approval decisions, capture signatures, and archive final review.

Frequently Asked Questions

Answers to common questions about completion, signatures, legal validity, and digital submission for the options review.


Need help? Contact support

be ready to get more
Join over 28 million airSlate SignNow users
Sign Now
Company
Forms
Pricing
Resources
Knowledge base
Other Products
© 2026 airSlate Inc. All rights reserved.