Is delivering a project on time and on-budget an adequate measurement of success?
Yes, the primary goal of every project is to meet the deadline and stay within budget. However, whether or not the project delivered value to the business is also an excellent gauge for success.
Measuring the success of a project once it has come to completion should be routine practice in every organization. A proper assessment of the project’s effectiveness will offer valuable insight and lessons that can be implemented on future projects.
Here are six factors for measuring the success of a project:
Stick to the Schedule
If a product launch date or budget relies on the project, there is typically a hard deadline to meet. Ultimately, the success of a project is based primarily on whether it was completed on time or not.
Indeed, there are clients that may be more flexible with deadlines as they view a quality product is much more important than being on schedule. However, committing to a timeline is still ideal to keep team members productive.
The scope is the intended result of the project and everything required to bring it to completion. Your success can be measured based on whether the project was achieved based on the objectives within the given framework.
Get Weekly Satisfaction Ratings
Start by asking the clients how satisfied they were with the results and if their needs were met. To avoid taking up too much of their time, ask them to rate your weekly performance rather than asking them to provide you with a lengthy description of their findings.
Succeed as a Team
Don’t overlook your team. How they feel the project went tells you a lot about its level of success. And because they were closest to the project, they may be able to provide you with insight about roadblocks and how they can be avoided in the future.
Building PMO Success
Completing the project within budget is probably one of the biggest indicators whether a project was a success or not. Your team should always be aware of how the money is spent and the roles they play in ensuring they stay on-budget. Clients are typically given a quote at the start of the project, and they expect that you stick to it.
Exceed Quality Expectations
The goal shouldn’t be just to meet expectations but to exceed them. With all projects, do track quality so that you can make adjustments for your future projects. Consider the value of your work as a way to advertise your capabilities. Let the quality of your completed projects be your calling card.
An excellent way to guarantee that you are not only completing your projects but also measuring your progress along the way is by using project management software. Project management software such as TeamHeadquarters provides project management services for all areas of your organization – not just IT.
With TeamHeadquarters, you’ll have total control of project ticket queues, integrated email agents, sophisticated and comprehensive resource management, task scheduling, project groups, portfolio dashboards, integrated status reporting, integrated and customizable reporting, the inclusion of customers on project tasks and tickets and a Customer Self-Service Portal.
For a free demo of TeamHeadquarters, click here.