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.
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: