Developing a value-centred proposal for assessing project success

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

Research output: Contribution to journalArticle

68 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.
Original languageEnglish
Pages (from-to)428–436
Number of pages9
JournalInternational Journal of Project Management
Volume23
Issue number6
Early online date21 Apr 2005
DOIs
Publication statusPublished - 1 Aug 2005

Keywords

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

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