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The way I measure success and failure is first and foremost by assessing if the client achieved the short and long term objectives they set out to: Did the project lead to a change in behavior, business growth, increased customer satisfaction or any other strategic benefit. Sometimes this cannot be answered on the day of delivery, but only months after the project delivered its tangible outputs.
In general, we measured the success of the project purely according to time, cost and quality on the day of delivery. But considering that the business case was still valid and the expected benefits were realized within months of the implementation, it was perceived as successful – not just by myself, but also by the clients and stakeholders.
I think the project could be considered a success if the project objectives are met based on the agreed scope and they are delivered on schedule within the agreed budget to the expected quality standards and the product/service/result produced by the project creates significant net value for the organization after the project is completed; otherwise it should be considered a failure.
In a Simple answer, by three major factors :
1- Time: If you are ahead the schedule or behind.
2-Money: If you are Over budget or Under budget
3-Quality: is The owner representative or the consultant is satisfied of the work done.
Best solution refer PRIMAVERA P6 application
The project can be assessed for success or failure by measuring the following factors:
1. Schedule.
2. Scope.
3. Budget.
4. Team satisfaction.
5. Customer satisfaction.
6. Quality of work.
7. Safety record.