Determine mechanisms for escalating questions, concerns, and problems and how they are functioning
Determining whether you have the right resources available; both people and funding sources needed
Assessing whether you have the right documentation, records, requirements info, etc
Is there an updated project plan?
Is there an updated action log, with owners dates that are getting closed out?
Do project meetings happen when needed? Are the right people in attendance?
When trying to save a strategic project that's gone down the tubes, the key concept is "reset." Be prepared to restart the project with a fresh perspective, evaluating budgets, time, goals, and assumptions based on a realistic assessment of the current state.
Project recovery can involve acknowledging painful truths. However, handled tactfully and with mutual respect, recovery can be a unifying experience that trains a team to work together and achieve success under the most difficult circumstances.