Measures of Success
The most important objective of project management is to meet or exceed expectations of the sponsors of the project. These prospects are typically expressed within three categories.
- Quality: Project produces preferred conclusion with minimum defects.
- Cost: The project produces preferred conclusion for the anticipated cost.
- Schedule: The project produces the desired conclusion within the anticipated timeframe.
The entire project must be strictly monitored at regular intervals throughout the lifecycle to make sure that the required technical performance occurs on schedule and within the approved budget.
To measure a project's success, project managers formulate measures that help control quality, schedule, and cost. The results of the measurements are grouped into formal and informal reports, which are used by both senior management and the project team to recognise deviations from planned performance and their causes. The team can then take remedial actions to limit the contact of these deviations on the project's schedule, budget, or resources.
The key ideologies for project management to be successful are as follows:
- Project managers must concentrate on three dimensions of project success (quality, schedule and cost). Project success refers to finishing all project deliverables on time, within budget, and to a level of quality that is acceptable to the sponsors and stakeholders. The project manager must maintain the team's attention focused on achieving these broad goals.
- Planning is ongoing. One thing, to which all PM texts and authorities agree to, is: The distinct and the most critical activity that project manager is involved is in the planning activity - detailed, systematic, team-involved plans are the only base for project success. And when real-world events unite to change the plan, project managers must make a new one to reflect the changes. So planning and re-planning must be a way of life for project managers.
- Project managers must feel, and broadcast to their team members, a sense of urgency. Because projects are finite happenings with limited time, money, and other resources available, they must keep moving toward completion. As most team members have plenty of other priorities, it's up to the project manager to keep their interest on project deliverables and deadlines. Regular status checks, meetings, and reminders are necessary.
- Successful projects employ a time-tested, proven project life cycle. Not only do these models typically sustain quality, they help to reduce rework. So when time or budget pressures appear to encourage taking short cuts, it's up to the project manager to identify and defend the best project life cycle for the job.
- The entire project deliverables and all project activities must be visualised and communicated in sound detail. In short, the project manager and project team must prematurely generate a solid picture of the finished deliverables in the minds of everyone involved so that all effort is focused in the same direction. Avoid indistinct descriptions at all costs; the project manager spells it out, pictures it, prototypes it, and make sure everyone agrees to it.
- Deliverables must advance gradually, in consecutive approximations.
- The risks and cost included requires too much time to be spent in rework, its more like jumping in with both feet and start building the project deliverables. Building a miniature at a time, obtaining incremental reviews and approvals, and upholding a controlled evolution helps.
- Project sponsors and stakeholders must be lively participants, not passive customers. Most project sponsors and stakeholders rightfully insist the authority to endorse project deliverables, either wholly or in part. Alongside with this authority comes the responsibility to be an active participant in the early stages of the project (helping to define deliverables), to complete reviews of temporary deliverables in a timely fashion (keeping the project moving), and to help accelerate the project manager's access to SMEs, members of the target audience, and essential documentation.