Developing a value-centred proposal for assessing project success

Angus G. Yu, Peter D. Flett, John A. Bowers

Research output: Contribution to journalArticle

61 Citations (Scopus)

Abstract

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.
LanguageEnglish
Pages428–436
Number of pages9
JournalInternational Journal of Project Management
Volume23
Issue number6
Early online date21 Apr 2005
DOIs
Publication statusPublished - 1 Aug 2005

Fingerprint

Costs
Project success
project
cost
stakeholder
Execution costs
product
Reviewing
Success criteria
Project failure
Stakeholders
Life-cycle model

Keywords

  • value and benefit
  • cost
  • time
  • project success
  • project organizational models

Cite this

Yu, Angus G. ; Flett, Peter D. ; Bowers, John A. / Developing a value-centred proposal for assessing project success. In: International Journal of Project Management. 2005 ; Vol. 23, No. 6. pp. 428–436.
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Developing a value-centred proposal for assessing project success. / Yu, Angus G.; Flett, Peter D.; Bowers, John A.

In: International Journal of Project Management, Vol. 23, No. 6, 01.08.2005, p. 428–436.

Research output: Contribution to journalArticle

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