Value based metrics for measuring project success

Value based metrics for measuring project success

The success of a project is the only thing that matters for almost all IT teams. We usually measure project success metrics in terms of productivity, cost of quality, return on investment, cycle time and other traditional metrics. But these project success metrics do not take into account some things that are equally important and valuable for all organizations.

Delivering a project on-time and on-budget is already considered too outdated to measure a project’s success. While it is definitely necessary, I would say these project success metrics are just basic hygiene factors. Project managers are today expected to partner with the customer, understand the business drivers and ensure that the project delivers the quality that is required. We don’t want situations on these lines:

Customer Satisfaction

Projects start out with best of intentions and are driven by the customer who are involved at the start when the requirements are being gathered. They are included in the planning and delivery processes. But, for some reason, managers neglect this relationship as the project progresses. It is the duty of project managers to speak with their customers and ask them direct questions about how they feel about the way a project is advancing. IT departments can also conduct surveys when they are notified to resolve issues with hardware or software.

Impact

An impact analysis can be done to unearth layers and levels a project is going to affect. Just like tossing a pebble in a pond, projects may cause ripples that carry beyond the initial splash. Project managers and customers often fail to connect with the change a project can cause to people, process and technology, both internal and external to the organization. The goals of any impact analysis are:

  • Understand sponsor goals and expectations
  • Understand strategic context and intent
  • Assess internal context, such as people, process and technology

Innovation

In today’s business environment, innovation is a must for project success. Project managers must find a way for design and innovation to go hand-in-hand. Innovation is not some complex phenomenon. In addition to creativity, it is about re-packaging, both literally and figuratively. It can be achieved by connecting dots in a new way and seeing trends and hidden profit opportunities. Instead of creating a culture of working extremely hard, it is needed that a culture of innovation be implemented.

Passion

The inner zeal of achieving the best cannot be replaced by anything else. Teams as well as customers should be passionate about the project in order to get the best value. When the give and take of information with customers culminates into a healthy relationship, everybody will be more passionate about the project. Team members, when given enough freedom to pursue their own thoughts about the project, would be more passionate about their work which would also lift their overall performance and personality. Most of the times, organizations focus more on the financial end-value of a product, which is bad practice. Try to implement the above points for the betterment of your customer satisfaction and also for your employee satisfaction rate. Financial gains will only follow.  

#BringItOn

All posted is absolutely clever and valid on the level of discussion. I mean, the article itself and all the comments are talking about agility, its sides and positive effects. When I read such things, I always try to apply it to my own experience at work, personal and social life. In this particular case, the questions raised in my mind were: how to get this agile/innovative way working in my organization/unit/team? Who are carriers of such culture? Shall management grow them, or find them, or both? What is then real target: to get wonderful active agile etc people working for your company OR super effective and efficient projects running by those people? It seems to me that if we focus on Culture Carries, and create required atmosphere/environment for them to exist, then their internal qualities WILL produce so desired results. Thus people are more important than outcome they produce because all possible innovations not innovated yet are completely undiscovered things in heads of appropriate people, so no one can plan or schedule for innovation, this is internal human work. I do understand that my thoughts may be not applicable here and might open whole can of warms, sorry for that, just wanted to share my angle of view on agility. Thanks.

Someswara Rao GVK

Senior Technology Manager at William O'Neil India

8 年

Good read

回复
William Delaforce

Project Delivery | Consulting

8 年

Innovation in projects is still a new concept to many, and one that I believe holds the biggest potential for transforming the ways projects are conceived and conducted. It starts in the mind - with the attitudes of those involved towards understanding what success really means, how they might get there, and how it will be measured.

Aleksandr Kizhner

Agile & Business Strategist : Transformation Catalyst

8 年

Do you think that one of the main Agile principle "Working software is the primary measure of progress." is wrong or just applied to 2001 ?? The primary measure of progress should be business results/goals, not just working software.

Chuck Sebesta

Real Estate at Chuck Sebesta

8 年

Great Read

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