CSf presentation 5
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The document discusses critical success factors (CSFs), defining them as key activities or elements required to ensure the success of a business or project. It provides background on CSFs, noting they were initially used in data and business analysis. The document outlines several types of CSFs and key sources of CSFs. It provides guidance on writing good CSFs, distinguishing them from key performance indicators. Examples of common CSFs are given for various contexts like projects, business planning, and industries. Overall the document serves as a guide to understanding and applying the concept of critical success factors.
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CSf presentation 5
- 1. Prd. By : Mahmoud Zonouzirad Projects & Management Consultant May,10,2016 www.3Sintgroup.com
- 2. 1-What are Critical Success Factors (CSF's)? Definitions Being practical when using CSF's Academic Background/ History Types of Critical Success factors Five key sources of Critical Success factors How to write a good Critical Success factor Key Performance Indicators (KPI's) and Critical Success factors The Critical Success Factor (CSF) Method Using Critical Success factors for Strategic and business planning Examples of Success factors Sample Critical Success factor templates Critical Success Factors for Projects 2-Key Success Factors & Samples References www.3Sintgroup.com
- 5. Critical Success Factors (CSF’s) are the critical factors or activities required for ensuring the success your business. The term was initially used in the world of data analysis, and business analysis. Critical Success Factors have been used significantly to present or identify a few key factors that organizations should focus on to be successful. As a definition, critical success factors refer to "the limited number of areas in which satisfactory results will ensure successful competitive performance for the individual, department, or organization”. www.3Sintgroup.com
- 6. Which ever definition you use. make sure that all managers understand the definition. www.3Sintgroup.com
- 7. Critical Success Factor an element of organizational activity which is central to its future success. Critical success factors may change over time, and may include items such as product quality, employee attitudes, manufacturing flexibility, and brand awareness. This can enable analysis. Critical Success Factor is a business term for an element which is necessary for an organization or project to achieve its mission. For example, a CSF for a successful Information Technology (IT) project is user involvement. www.3Sintgroup.com
- 8. Critical success factors was proposed by: RH Daniel (1961) & F Rockart (1979). The idea is very simple: in any organization certain factors will be critical to the success of that organization, in the sense that, if objectives associated with the factors are not achieved, the organization will fail! The following as an example of generic CSF's: New product development, Good distribution, and Effective advertising www.3Sintgroup.com
- 9. Before you start the journey looking at CSFs it is important to realize that the specific factors relevant for you will vary from business to business and industry to industry. Therefore success in determining the CSFs for your organization is to determine what is central to its future and achievement of that future. Remember to only have 5-7 critical factors for YOUR organization, and I am sure one of those will be cash flow! www.3Sintgroup.com
- 12. Focus & Build Requirements To meet the CSF’s Identifying CSF's is important as it allows firms to focus their efforts on building their capabilities to meet the CSF's, or even allow firms to decide if they have the capability to build the requirements necessary to meet Critical Success Factors (CSF's). www.3Sintgroup.com
- 13. There are four basic types of CSF's They are: Industry CSF's resulting from specific industry characteristics; Strategy CSF's resulting from the chosen competitive strategy of the business; Environmental CSF's resulting from economic or technological changes; and… Temporal CSF's resulting from internal organizational needs and changes. Things that are measured get done more often than things that are not measured. Each CSF should be measurable and associated with a target goal. www.3Sintgroup.com
- 14. Rockart and Bullen presented five key sources of CSF's: 1) The industry, 2) Competitive strategy and industry position, 3) Environmental factors, 4) Temporal factors, and 5) Managerial position www.3Sintgroup.com
- 15. There are some CSF's common to all companies operating within the same industry. Different industries will have unique, industry-specific CSF's An industry's set of characteristics define its own CSF's Different industries will thus have different CSF's, for example research into the CSF's for the Call centre, manufacturing, retail, business services, … www.3Sintgroup.com
- 16. Competitive position or strategy: The nature of position in the marketplace or the adopted strategy to gain market share gives rise to CSF's Differing strategies and positions have different CSF's Not all firms in an industry will have the same CSF's in a particular industry. www.3Sintgroup.com
- 17. Environmental changes: Economic, regulatory, political, and demographic changes create CSF's for an organization. These relate to environmental factors that are not in the control of the organization but which an organization must consider in developing CSF's Examples for these are the industry regulation, political development and economic performance of a country, and population trends. www.3Sintgroup.com
- 18. Temporal factors: These relate to short-term situations, often crises. These CSF's may be important, but are usually short-lived. Temporal factors are temporary or one-off CSF's resulting from a specific event necessitating their inclusion. For Example Mobile 3G/4G Technology Features such as VAS Services in Rightel Operator in Iran to getting more market share! www.3Sintgroup.com
- 19. Managerial role: An individual role may generate CSF's as performance in a specific manager's area of responsibility may be deemed critical to the success of an organization. For example, manufacturing managers who would typically have the following CSF's: product quality, inventory control and cash control. In organizations with departments focused on customer relationships, a CSF for managers in these departments may be customer relationship management. www.3Sintgroup.com
- 20. Importance of the Success Factor Critical SF Generally Important, Independent of Own Position( Weakness or Strength) Position of the company or product Own Weakness Own Strength Critical SF Strategic SF Balanced SF Overvalued SF www.3Sintgroup.com
- 21. Finding information for writing CSF's The information mentioned above can largely be accessed through the internet. CSF as an activity statement: A “good” CSF begins with an action verb and clearly and concisely conveys what is important and should attended to. Verbs that characterize actions: attract, perform, expand, monitor, manage, etc. Examples: “monitor customer needs and future trends” CSF as a requirement: After having developed a hierarchy of goals and their success factors, further analysis will lead to concrete requirements at the lowest level of detail CSF as a key influence factor: Some CSFs might influence other CSFs or factors such as markets, technologies, etc. Such CSFs could be rephrased into “key influence factors” For example: “physical size” or “trained staff” www.3Sintgroup.com
- 22. A critical success factor is not a key Performance Indicator (KPI). KPI's are measures that quantify objectives and enable the measurement of strategic performance. For example: KPI = number of new customers/ response time CSF = installation of a call centre for providing quotations www.3Sintgroup.com
- 24. Start with a vision: Mission statement Develop 5-6 high level goals Develop hierarchy of goals and their success factors Lists of requirements, problems, and assumptions Leads to concrete requirements at the lowest level Relationship to Usage Scenarios Results of the Analysis www.3Sintgroup.com
- 27. Statistical research into CSF’s on organizations has shown there to be seven key areas. These CSF's are: 1. Training and education 2. Quality data and reporting 3. Management commitment, customer satisfaction 4. Staff Orientation 5. Role of the quality department 6. Communication to improve quality, and 7. Continuous improvement www.3Sintgroup.com
- 28. PRIMO-F 1. People - availability, skills and attitude 2. Resources - People, equipment, etc 3. Innovation - ideas and development 4. Marketing - supplier relation, customer satisfaction, etc 5. Operations - continuous improvement, quality, 6. Finance- cash flow, available investment etc www.3Sintgroup.com
- 29. Following is a sample list of the more common success factors. This list should serve only as a guide to get you started. The factors are grouped into three categories of organizational competency, you will use your own differentiators. Understanding of Market Marketing Variables Decision making www.3Sintgroup.com
- 30. Understanding of Market: o Sensitivity to changing market needs o Understanding of how and why customers buy o Innovative response to customer needs o Consumer loyalty o Linkage of technology to market demand o Link marketing to production o Investment in growth markets o Knowing when to shift resources from old to new products o Long-term view of market-development and resources o Ability to target and reach segments of market o Identify and exploit global market o Product-line coverage o Short time to market for new products o Lack of product-line overlap o Identification and positioning to fulfill customer needs o Unique positioning advantage o Strong brand image and awareness www.3Sintgroup.com
- 31. Marketing Variables: Distribution coverage, delivery speed Co-operative trade relations Advertising budget and copy effectiveness Promotion magnitude and impact Sales force size and productivity Customer service and feedback High product quality Patent protection Low product cost Ability to deliver high value to user Large marketing resource budget www.3Sintgroup.com
- 32. Decision making: Marketing research quality Information system power Analytic support capability Develop human resources Attract the best personnel Managerial ability and experience Quick decision and action capability Organizational effectiveness Learning systematically from past strategies www.3Sintgroup.com
- 41. Research has shown that to complete a project successfully the following critical success factors apply: 1. Match Changes to Vision 2. Define Deliverables 3. Business Need Linked to Vision 4. Have a Formal Process to Define Vision 5. Organizational Culture Supports Project Management According to a recent Gartner Institute study, 50% of all projects were delivered above schedule and/or budget. In 2010, the Gartner group updated their research to include lack of executive sponsorship as a major contributor to project failures. www.3Sintgroup.com
- 42. According to a 2012 Standish Group Report, the top success factors for projects were as follows. The list is in decreasing order of percentage factors responsible for success. % - Success Factors 18% Executive support 16% User involvement 14% Experienced project manager 12% Clear business objectives 10% Minimized scope 8% Standard software infrastructure 6% Firm basic requirements 6% Formal methodology 5% Reliable estimates 5% Other criteria www.3Sintgroup.com
- 46. Objective Candidate Critical Success Factors Gain market share locally of 25% Increase competitiveness versus other local stores Attract new customers Achieve fresh supplies of “farm to customer” in 24 hours for 75% of products Sustain successful relationships with local suppliers Sustain a customer satisfaction rate of 98% Retain staff and keep up customer- focused training Expand product range to attract more customers Source new products locally Extend store space to accommodate new products and customers Secure financing for expansion Manage building work and any disruption to the business www.3Sintgroup.com Samples of CSF
- 59. Industry Critical Success Factor's (CSF's) resulting from specific industry characteristics; these factors result from specific industry characteristics. These are the things that the organization must do to remain competitive. Strategy Critical Success Factor's (CSF's) resulting from the chosen competitive strategy of the business; these factors result from the specific competitive strategy chosen by the organization. The way in which the company chooses to position themselves, market themselves, whether they are high volume low cost or low volume high cost producers, etc. Environmental Critical Success Factor's (CSF's) resulting from economic or technological changes; these factors result from macro-environmental influences on an organization. Things like the business climate, the economy, competitors, and technological advancements are included in this category. Temporal Critical Success Factor's (CSF's) resulting from internal organizational needs and changes; these factors result from the organization's internal forces. Specific barriers, challenges, directions, and influences will determine these CSFs. www.3Sintgroup.com
- 63. www.3Sintgroup.com Keys to a successful PMO - Critical success factors and how to address them
- 64. www.3Sintgroup.com What Are 10 Critical Success Factors For a PMO? 1) PMO defined its Value Proposition 2) PMO is Perceived as having Visible Impact on Projects 3) PMO is a Flexible and Consultative Organization 4) PMO has Extensive Commitment from Executives and Managers 5) PMO reporting is the Most Senior Level of the Organization to have the Required Influence 6) PMO is a Worthwhile Function with Much Added value to the Success of Projects 7) PMO has Meaningful and Visible Metrics 8) PMO Approach is Right for the Culture of Organization 9) PMO is Focused on Project Outcomes than Too Much Process Adherence 10) The PMO has a Senior Sponsor in the Organization
- 66. 1. Get the customer experience right 2. Tackle the proliferation of device types 3. Create a context-rich experience 4. Embed the right analytics 5. Build in reliability and resilience 6. Integrate with other systems 7. …and don’t forget security www.3Sintgroup.com
- 68. The important thing in successful mobile app implementation is adherence to a systematic approach to the development process which, among other steps, includes: product definition effective management use of proper development tools and technologies constant quality assurance resolving security and compliance issues customer support throughout the whole period of the app’s life. www.3Sintgroup.com
- 75. Dominant strategy Plan Clear definition of the project chart, goals, roles, and impacts Clarity (transparency) Access to financial resources Efficacy Set norms of quality Efficacy Realistic calendar of tasks and activities Efficacy Balanced budget Efficacy Processes Formal work methodology Efficiency Solid infrastructures Efficiency People Team work Collaboration Competencies Competencies (Trust) Commitment Commitment Power Experienced managers Control and transparency Sense of fairness Fairness Contingency strategy Risk and vulnerability assessments Efficacy and efficiency In project management, multiple cross-cultural studies spread over decades have shown that the basic Key Success Factors can be summarized as follows[8 www.3Sintgroup.com
- 86. In a survey conducted by Capriza, 45 percent of respondents found that current enterprise applications were too complex and ‘“clunky” having a negative impact on employee productivity. To ensure companies achieve the best ROI from mobile, this white paper highlights our five key success factors for mobile app development: UX – UI APIs & Integration Security Change Management Technology www.3Sintgroup.com
- 87. Building a useful and reliable enterprise mobile application is not an easy task, but it is important to remember that, except for technological and security limitations, there are no strict rules in the app development process. Many best practices are available for the developers to refer to, and in the next few paragraphs we will mention just some of those related to the list above. Identify your needs and target users Effective application development and management Quality assurance strategies www.3Sintgroup.com
- 88. Chief executives define their own data needs. By: Rockart, John F.. Harvard Business Review, Mar/Apr79, Vol. 57 Issue 2, p81-93, 13p MANAGEMENT INFORMATION CRISIS. By: Daniel, D. Ronald. Harvard Business Review, Sep/Oct61, Vol. 39 Issue 5, p111-121, 11p THE CASE STUDY METHOD AND THE ESTABLISHMENT OF STANDARDS OF EFFICIENCY.By: Lebreton, Preston P.. Academy of Management Proceedings, 1957, p103-103, 1p To our mind the first published work of this approach is by Rockart. This pages reproduced from RapidBI.com Management Control Systems: Text, Cases and Readings By Robert Newton Anthony, John Dearden, Richard F. Vancil Published by R. D. Irwin, 1972 p151 10 problems that worry presidents. By: Spencer, Lyle M.. Harvard Business Review, Nov/Dec55, Vol. 33 Issue 6, p75-83, 9p "What are the essential factors that produce success in my company?" which for 1955 is getting close to the beginnings of CSFs - so for those interested in the early beginings worth a look. http://rapidbi.com/created © RapidBI 2000-2009 all rights reserved © Mike Morrison 2009 http://www.ictstartups.ir/fa/content/print/337 http://m-malekan.blogfa.com/post/5 http://128.ir/article/fa-964/75-%D8%B4%D8%A7%D8%AE%D8%B5- https://techspark.co/blog-the-seven-critical-success-factors-for-mobile-apps-and-services/ http://usep-ic.forumsmotions.com/t160p20-assignment-6-due-december-30-2009-before-0100pm www.3Sintgroup.com