Dimensions of Project Success
Iqra Altaf01-120141-011MBA-6AProject Management Assignment Dimensions of project successprojects vary in size, uniqueness and complexity thus, the criteria for measuring project success varies from project to project. different projects have different criteria for measuring success (Muller and turner, 2007) . thats why , a universal set of project success criteria cannot be agreed. there is no universal set of project success criteria that can be applied on all the projects. (Westerweld, 2003). Muller and Jugdevs (2012) study declared that project succes is a multi dimensional and networked concept. they insisted that perceptions of success and the relative importance of success dimensions differ by individual personality, nationality, project type, and contract type. Shenhar et al ( 2001) claim that projects are strategic and project success should be assessed according to short term and long term project objectives. The project success includes following dimensions: Efficiency :involves meeting schedules, utilization of resources and budget goals. efficient management of projects is not a guarantee of ultimate project success, but efficient utilization of resources provides long-term benefits to the organization. Project efficiency is a short-term measure of project success (Shenhar & Dvir, 2007).Impact on customers :assess customers benefits in performance of end products,meeting customer needs, customer’s satisfaction level, product performance, customer’s loyalty, functional and technical requirements, and the extent of customer product adoption. impact on the customer provides a measure of whether or not a customer’s requirements are fulfilled and can be used to improve customer satisfaction (Shenhar & Dvir, 2007).
Business success :project benefits in commercial value and market share. This dimension measures direct and immediate effect of income, profits, cash flow, sales levels, and other financial elements on organizations (Ahmed et al., 2016, p. 162). This dimension is often used to outline the expected profit, growth, and sales from the product in a typical business plan (Shenhar & Dvir, 2007). preparing for the future :creating new technological and operational infrastructure and market opportunities. this dimension include development of organizational competencies, creating a new product line, developing new organizational processes, creating a new market, introducing technology development, and additional technological competences for future infrastructure (Ahmed et al., 2016, p. 162). Preparing for the future measures how well projects support the organization in developing its infrastructure for the future. This dimension addresses long-term benefits and measures how new opportunities are created (Shenhar & Dvir, 2007).