How would you measure project success?
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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How would you measure project success?
Expert Solution
INTRODUCTION
The phrase "project success" refers to the particular standard decided upon by the customer and the project team before the start of the project. After the project is completed, teams utilize these requirements, benchmarks, and deliverables to gauge project success. A project's success must be quantified in order for the project team to monitor development and spot potential areas for process improvement. Continual improvement, support for future choices, and important insight into team and customer satisfaction are all aided by measuring project performance.
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