What is project success? Specifically, how do you define project success? This is a straightforward question, as most project managers will tell us that triple constraints, namely time, cost, and scope, are the success criteria. On the other hand, this question becomes complex if you ask it to customers, C-levels, or even competitors. Will they define project success as Project Managers do? Probably not! This is a simple but complex question with different answers depending on who answers it. It’s time to redefine project success.
Different perspectives that define project success
It’s very crucial to understand the different perspectives to define project success. Otherwise, even if Project managers complete the project on time, within budget and scope, and call it very successful, other stakeholders may find it unsuccessful. Over half of large-scale change efforts fall short of expectations mainly due to a focus on individual projects and judging their performance only based on time, scope, and budget, according to Boston Consulting Group and PMI (2016). Even if our projects are completed by satisfying cost, time, and scope, if they do not deliver the expected outcomes, they do not align with the strategy, and executing the plan will fail. Hence, success should be defined by considering the stakeholders’ expectations and ensuring that the project’s results contribute to the strategy.
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We are on the edge of a shift from a mindset of targeting scope, cost, and schedule to considering stakeholder expectations and introducing benefits to contribute to the strategy. PMI’s Talent Triangle was introduced to mention the importance of leadership and business intelligence skills for Project Managers to support long-range strategic objectives. Moreover, the latest version of the PMBOK added Stakeholder Management as a new knowledge area, realizing the importance of different perspectives and expectations. So, what does it mean to redefine project success?
Theory and practices to define project success
As Jan La Van stated, “In theory, there is no difference between theory and practice. But in practice, there is!” The gap between strategy and execution should be filled. The new definition of project success can fill this gap. The main challenge to achieving this shift to the new definition is time dependency.
Projects have a starting and an ending point, so they are temporary. At the end of the project, it can be evaluated based on scope, cost, and schedule, but not benefits because benefits are generally realized after the completion of the projects. Here is the dilemma: How can PMs be responsible for the benefits that will be discovered after the project closure? PMI’s latest Practice Guide Benefit Realization Management introduces benefit owners to overcome this dilemma, and each project is expected first to identify and then execute benefits.
Tomorrow will be different from today for us and the Project Managers. Change is needed; we need to redefine project success:
- Adopt a multi-dimensional approach to the concept of project success.
- Organizations planning to achieve some strategic benefits from a project should incorporate these benefits as predetermined measures to assess project success.
- Try to specify project objectives as early as possible.
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