Project:Sandbox

= Assessment Criteria =


 * Validation Conclusion Assessment
 * Assess and comment on whether there is sufficient evidence to support a decision to approve or reject the model for use.
 * Evaluate whether the executive summary is well supported, and it provides an overview of key LMs, RAIs, RTs and RMs?
 * Limitations Assessment
 * Are all limitations clearly linked to the Independent Testing / MRM Assessment sections?
 * Are the limitations’ impact quantified with numbers?
 * Do any of the limitations use speculative language?
 * Are there limitations inherited from upstream models that need to be either a) retired or b) made specific for this model and quantified?
 * Are Medium and High severity LMs mitigated through RAIs, RMs or RTs or other alternative review and challenge controls, OMR monitoring etc?
 * Are there any LMs that should have been Observations?
 * Restrictions Assessment
 * Are the restrictions still relevant?
 * Are they clearly linked to LMs or RAIs?
 * Required Action Items (RAIs) Assessment
 * Are RAIs clearly explained and linked to the Independent Testing / MRM Assessment Sections?
 * Conceptual / Technical Soundness and Methodology
 * Is the theoretical framework overview summarised enough to avoid just repeating what is in the white paper?
 * Are all MRM Assessments complete and covering all variables?
 * Are all issues and arguments well justified and supported with references to external studies or independent testing where applicable?
 * Are we copying across charts from the developer testing that should have only been referenced?
 * Development Data and Model Inputs
 * Assess completeness and ensure that there are no variable definitions that are not present in other parts of the document.
 * Review of Independent Validation Testing
 * Are there additional tests that can be done to support existing LMs, RAIs, RMs and RTs?
 * Are there additional tests that can be added to support emerging risks?
 * Do you see any alternative model definitions that we can implement and used as a benchmark? (Note: This can be a side project, when we have time or as part of the next MDR.)
 * Outline any other comments or areas of enhancement.