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Definition of a successful Project - a new Paradigm? <ul><ul><li>David Willcox </li></ul></ul><ul><ul><li>Senior Consultant </li></ul></ul><ul><ul><li>IT Project Manager </li></ul></ul>

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Traditional Thinking…. The Project Management Triangle <ul><li>The Project Management Triangle is the traditional means of measuring Project success with the Project Manager balancing between these 3 key constraints usually with defined tolerances </li></ul><ul><li>Time = the time to complete the project </li></ul><ul><li>Cost = the budget available </li></ul><ul><li>Quality = the scope & quality of the final deliverable </li></ul>Time Cost Quality

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Deficiencies of the PM Triangle <ul><li>The 3 key constraints of Time, Cost and Quality are clearly important measures for a project </li></ul><ul><li>But the Benefits of the Project are no where to be seen in the triangle? </li></ul><ul><li>This is a particular danger in IT projects where the team get hung up in the technical delivery and don’t consider the business benefits </li></ul><ul><li>It is possible to have a successful project which actually does less well on Time, Cost and Quality but delivers real benefits </li></ul><ul><li>An example is……… </li></ul>

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Successful Project with poor TCQ Triangle? <ul><li>Time – 250% overrun (10 years late)‏ </li></ul><ul><li>Cost - 13 times over budget </li></ul><ul><li>Quality - Scope heavily modified </li></ul><ul><li>BUT has created an iconic building (recognised as one of the most outstanding places on Earth with its inclusion on the UNESCO World Heritage List) to put Sydney on the world stage = Delivered Benefits </li></ul>

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A new Paradigm to replace the Project Management Triangle <ul><li>The project is to travel to a Planet and gather important minerals no longer found on Earth = Benefits </li></ul><ul><li>The planet has 3 moons which will be used as key staging posts to secure access to the planet. These are named Time, Cost and Quality </li></ul><ul><li>The moons must be kept in balance around the planet </li></ul><ul><li>But the key goal is to to secure the benefits at the core of the planet </li></ul>

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Summary <ul><li>A new Paradigm for Project Success is suggested to incorporate the need to balance key constraints of Time, Cost and Quality / Scope without losing focus on the key goal of the project – to secure the expected benefits </li></ul><ul><li>In terms of measurement during the project lifecycle, benefits are notoriously difficult to track as many accrue after the project has finished – however this should not be used as an excuse for not trying </li></ul><ul><li>Examine the Project Objectives & Benefit case to identify Critical Success Factors (CSFs) e.g. increased productivity </li></ul><ul><li>Where CSFs are difficult to measure, use Key Performance Indicators (KPIs) which can act as proxys </li></ul><ul><li>Agree targets for the metrics </li></ul><ul><li>Measure the metrics during the project lifecycle and present in a Balanced Scorecard alongside traditional measures such as Time, Cost and Quality </li></ul>