PM Commentary by Stacy Goff, ProjectExperts CEO.
This is part two of our two-part post on Success Factors and Measures. Two independent events last month (an interview for a magazine article and a webinar) resonated around a frequently-discussed, but often disputed topic: What is project success, and how do you achieve it? The events covered two aspects of project success, the Success Factors (that lead to project success) and the Success Measures (used to evaluate success). This posting covers the Success Measures.
The Success Measures
Tim Jaques and Frank Salidis ran the latest webinar in the IPMA-USA 2010 Dialogue series the first week of July. The topic was Perspectives on Project Success: Excellence in Project Management. The well-presented and discussed Dialogue was excellent, but there is much more to the topic than an hour’s time. Some of the key points included the fact that the Triple Constraint is merely a project measure, and is certainly not as important to the end-user as such hard-to-measure items as customer satisfaction.
Other points included discussions about tangible and intangible value, including Return On Investment, Stakeholder satisfaction (beyond customers), and even enhanced PM intelligence. Perceived failures, at least according to project measures, may be successes by the time of product measurement. A key example provided was the Sydney Opera House. The distinction made: Project outputs versus project outcomes.