Project Success and Failure - Project Success and Failure

Success Measurement Is Distinct for Everybody

Success is a word with broad connotation, and it may signify different sense to different individuals. If you have finished your work assigned for a particular day, and your writing table is tidy, that may be success to you, but may be not success for all. If you are constructing a building, and you have completed the last task of delivering the building to the user, the delivery of the completed house is an authentic assessment of your success. If you are performing the duties of a sales person, and the sales objective was to trade 100 objects in two months, and you manage to sell 120, you will possibly consider yourself to be doing well. These are simple methods for the measurement of success in normal life, but what are the critical success factors regarding measurement of success in projects?

Evaluation methods of project success

Evaluating Success In Projects

In the earlier days, when project management was not yet developed as a discipline, project success implied completing a project on schedule, under the allocated cost, and accomplishment of the project goals. Success criteria have changed today, particularly when a large number of project management methodologies are available to be used.

Searching the query of how can success be measured in projects, can be solved by the Internet, where professionals, offer the most modern, and most novel techniques. But is their opinion correct? Some specialists have the opinion that use of earned value management, which examines cost, scope, and schedule during the project life cycle is the top technique. Others have the opinion that a balanced scorecard is more reliable in presenting project success.

Determining Success Distinctively

There are projects in all business. Projects contain established objectives with allocated activities based on the results desired. Only completion of a project, does not always determine success. Over budget in projects does not necessarily imply that you are failed. Objectives that change halfway through will not signify that your project will not be successful. Then, how can we determine that our project is successful?

Project Setting – Software may be used to identify if a project will be successful.

Surveys – Some business use surveys to determine if a project was successful. Surveys are forwarded to customers, with the questions concerning the project. Survey responses will indicate the level of customer satisfaction, which can be used for improvements. Surveys to project stakeholders are a useful technique for measurement of success.

SWOT Analysis – Performing a SWOT analysis is a reliable initiative for success measurement. 

Communications – Do you put brief and quantifiable queries to the team during the project lifecycle? Do you offer chance to team members to offer recommendations? Establish principled communication plans, which can assist to measure project success. 

Measurement Approach – There are numerous evaluation methods to obtain an authentic assessment of the project success. The critical success factors include meeting of project scope baseline, cost baseline, and schedule baseline, personal targets, and customer outlook. Select measurement techniques, from the several available. 

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