Project Success - How do you attain it?
Contents |
Abstract
When it comes to project management, evaluating the success of a project is a critical piece of the puzzle. To determine if a project was successful, it's necessary to examine both the outcomes and the processes involved in the project. Here are some key factors to keep in mind:
a. Balancing the Iron Triangle: This refers to the three elements - scope, time, and cost - these must be managed and balanced in harmony to achieve project success[1].
b. Understanding Project Success vs Project Management Success: Project success is about meeting the project's goals and objectives, while project management success is about how well the processes involved in the project were executed and delivered. It is important to remember that success in project management does not guarantee overall project success - stakeholders also need to be satisfied[2].
c. Conformance and Performance: Conformance checks if the project sticks to standards and requirements given by a client, while performance evaluates the efficiency and effectiveness of the project's execution and delivery. A project may be in compliance, but still not meet expectations if it does not perform well.
d. Efficiency and Effectiveness: Efficiency looks at the relationship between inputs and outputs in a project, while effectiveness determines if the project meets its intended goals. A project may be efficient, but not effective if it does not meet its objectives.
By considering these factors, project managers can make informed and well- based decisions that lead to successful project outcomes. Balancing the Iron Triangle, differentiating between project and project management success, evaluating both conformance and performance, and striving for efficiency and effectiveness can help increase the chances of success to the highest that it has ever been[3].
Iron Triangle
The Iron Triangle is an essential concept in project management, and it has three interdependent factors that need to be balanced to achieve project success. These factors are scope, time, and cost, and they all work together to determine whether a project will be successful or not. Scope refers to the project's goals and objectives, while time represents the duration of the project, and cost is the resources required to complete the project [4].
Balancing these three factors is crucial for project success, as changing one factor will affect the other two. For instance, increasing the project's scope may require more resources, which can lead to an increase in cost and may delay the project's completion.
The Iron Triangle is a widely recognized concept in project management, and it is often used as a framework to help project managers balance the three factors and achieve success. It is included in the Project Management Body of Knowledge (PMBOK) Guide, which is a widely recognized standard for project management published by the Project Management Institute (PMI)[5].
Conformance and Performance
Assessing project success is a crucial process in project management, and two key aspects that need to be taken into account are conformance and performance. Conformance evaluates if a project adheres to established standards, while performance looks at the efficiency and effectiveness of the project's execution. Ensuring both of these factors are considered is essential in ensuring the project meets its objectives and achieves success.
Efficiency and Effectiveness
References
- ↑ Project Management Institute. (2017). A Guide to the Project Management Body of Knowledge (PMBOK Guide). 6th ed. Newtown Square, PA: Project Management Institute, Inc.
- ↑ Kerzner, H. (2017). Project Management: A Systems Approach to Planning, Scheduling, and Controlling. John Wiley & Sons.
- ↑ Lewin, A. Y., & Saunders, M. N. K. (2015). Project Management. Routledge.
- ↑ Project Management Institute. (2017). A Guide to the Project Management Body of Knowledge (PMBOK Guide). 6th ed. Newtown Square, PA: Project Management Institute, Inc.
- ↑ Crawford, L., Pollack, J., & England, D. (2007). Uncovering the trends in project management: Journal emphases over the last 10 years. International Journal of Project Management, 25(7), 649-662.
