This conceptual paper proposes a value-centred approach to measuring project success. The paper adopts a product-based project definition and a corresponding project lifecycle model. After reviewing briefly the literature, the paper defines the concepts of the net project execution cost (NPEC) and the net product operation value (NPOV). Twelve possible project outcomes are outlined based on values of NPEC and NPOV at project completion compared with their initial estimates. The proposed scheme potentially enables project stakeholders to reach the same project success or failure verdict. It also addresses many issues hitherto encountered in the quest for project success criteria.
|Number of pages||9|
|Journal||International Journal of Project Management|
|Early online date||21 Apr 2005|
|Publication status||Published - 1 Aug 2005|
- value and benefit
- project success
- project organizational models