A Practical Framework for Governing and Delivering Successful Projects

1. Introduction

Why Projects Need a New Definition of Success

Projects are traditionally evaluated using familiar indicators such as schedule, cost and scope. Yet many projects that meet these criteria are still perceived as unsuccessful.

A project may be delivered on time and within budget but fail to create meaningful value or stakeholder satisfaction. Research on project success repeatedly shows that success cannot be reduced to operational performance alone; also factors such as stakeholder satisfaction and achieved benefits, or more specificly value creation, need to be considered.

This guide introduces the Project Success Vector, a practical way to understand project success as a directional and multidimensional concept rather than a single result.

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