Weightings of performance against the success criteria, Project Management

Weightings of performance against the success criteria

In any discussion on success, it is necessary that a distinction is made amid project success and the success of the project management effort, keeping in mind that good project management can contribute towards project success but is unlikely to be able to prevent failure. The most appropriate criteria for victory are the project objectives. The extent to which these objectives have been met determines the success or failure of a project. The criterion for success of the project management effort tends to be restricted to cost, time and quality/performance. When scaling the project success, one must consider the objectives of all stakeholders throughout the project life cycle and at all levels in the management hierarchy. Consequently, considering that, with such huge number of objectives, measuring the success of a project is little tedious.

The weighting system

As you think about multiple factors to establish project success, the final area you need to address is a weighting system. This will be essential because not all of the performance factors are of equal importance.

For example, completing a project by a certain date may be more important in a project than hitting the budget target or not. In fact, one may have to overspend to make sure the deadline is hit. So, in such projects, meeting the deadline should be weighted more profoundly than meeting the budget target.

The way one establishes an overall weighting formula is to begin with a maximum point total and divide the achievement of that maximum total into the number of success criterion. The accomplishment of all the success criteria results in a 100-point maximum. In other words, if the project team did everything flawlessly, its total score would be 100 points. We can also spell out that the five criteria of success are deadline, budget, quality, client satisfaction, and sponsor rating of success

Posted Date: 9/29/2012 1:34:11 AM | Location : United States







Related Discussions:- Weightings of performance against the success criteria, Assignment Help, Ask Question on Weightings of performance against the success criteria, Get Answer, Expert's Help, Weightings of performance against the success criteria Discussions

Write discussion on Weightings of performance against the success criteria
Your posts are moderated
Related Questions
contents for introduce a new brand.

Explain the concepts involved in Product Layout and its advantages and disadvantages vis-a-vis process layout. 18 carpets were observed closely and the number of defects in thei


Project manager and project team The project board will ultimately choose whether changes are executed or not and it will then be the responsibility of the project manager to m

Varying Utilization Plan The utilization of workers is varied keeping it he workforce size and inventory size constant. The number of workers is kept constant in this plan. Du

Question 1: Using the "Matrix" system of authority and responsibilities, describe the various organisational systems which may be applied to the management of projects. Disc

KS, the Finance Manager of TZY Company's Finance Department, is aware that it is approaching the time of year when he requirements to conduct staff appraisals. However, he is consc

Introduction The project 'Syringe Management Plan' is created to protect the community against misplace of syringe that causes accidental needle injury. This project is introdu

This plan will build a good image for Maribyrnong Council, even Melbourne. The opportunity for Maribyrnong Council, there maybe will attract more investment for the company. It als