How do you define a successful project? Primarily a project needs to deliver on few basic parameters that can be used to validate if the project really provided the value it intended!

1. Measuring Project Success ProzenGlobal.com
Measuring Project Success
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How do you define a successful
project? Primarily a project needs to
deliver on few basic parameters such
as;
1. Product of Project: This may be a
new service, a product or a repeatable
process that sponsoring organization
intends to use for strategic, operational
or business advantage. The customer
must be able to use or validate it at
project completion.
2. Cost or Investment: Budget allocated for project should not exceed
without changes to baseline scope. This is one of the primary concerns
for the stakeholder along with timelines and quality in order to derive
reasonable value from investment.
3. Schedule: Project timelines are met for key deliverables so project’s
product is relevant for the intent it is commissioned. This is especially true
in the technology domain where go to market time can make or break
company’s fortunes.
4. Project Scope: Has project maintained the agreed scope of work and
identified deliverables on time and at desired levels of utility? If there are
either missed requirements or “gold plating with increased costs or time,
in both cases it points to an element of failure.
5. Reporting Metrics: Is there an agreement on measurement metrics to
identify and report on key milestones and deliverables while project is in
flight? If key parameters aren’t defined, it is practically impossible to
measure the progress made or how much more time or budget will need
to complete the remaining scope.
6. Stakeholder Expectations: This is a tough one, especially that various
involved parties have differing stakes in the project. It is important that
your key stakeholder’s perceive the project outcome to be in line with their
expectations.

2. Measuring Project Success ProzenGlobal.com
7. Transition to Operation: Very little thought and planning time is given
on the sustainment aspects of a project delivery. It is critical that sufficient
time and resources are engaged for ensuring there is smooth hand off &
required transfer of knowledge between project & supporting teams
at project completion & acceptance in to ongoing operations.
To conclude, your stakeholders will decide whether project was well-managed.
Someone (perhaps your sponsor) will decide whether or not the project was a
success. Some of the above measures may form the basis of this success.
So to help stakeholders understand and decide get project success measures
documented and agreed to from the start!
ProZen Global, Calgary
Project Management & Consulting Services
Access more resources at www.prozenglobal.com