In an article from January 2011, McKinsey outlines a series of ten tests to validate your current strategy:
Summary of the tests:
- Will your strategy beat the market?
- Does your strategy tap a true source of advantage?
- Is your strategy granular about where to compete?
- Does your strategy put you ahead of trends?
- Does your strategy rest on privileged insights?
- Does your strategy embrace uncertainty?
- Does your strategy balance commitment and flexibility?
- Is your strategy contaminated by bias?
- Is there conviction to act on your strategy?
- Have you translated your strategy into an action plan?
Each test includes a more detailed description, and an example of a company or industry where it is particularly relevant. There are also links through to relevant articles or books.
Although aimed at corporate strategy, this is an interesting list of points to consider at a personal or project level as well.