Back to PM Basics (Part 4): Defining Success & Objectives
This is the fourth article in a series that will build a foundation of project management knowledge. The first two articles introduced the fundamentals of project management, and explained the project life cycle and the importance of a project charter. In Part 3, readers learned about the triple-constraint and how to identify and prioritize project stakeholders.
This article will address the following topics:
- Define project success
- Differentiate business objectives from project objectives
- Introduce the concept of a project plan
Project Success Definition
At first thought, the answer to the question of “What is a successful project?” may appear obvious. After all, project managers build project plans and then guide the project to completion, hopefully on-time and on-budget. Surely if they do that, the project is a success. Or is it?
Stakeholders, as defined in Part 3 of this series, were defined as an individual or group that has an interest in a project. The article then went on to define a key stakeholder as the individual(s) who must be satisfied by the projects output. The questions then become:
- Could a project be late and/or over-budget and also be considered successful?
- Is it possible for a project to be planned and delivered as planned, and yet not meet the key stakeholders’ business outcome?
The answer to both
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