Project Success is Always Measured in Business Value,

‘If you build it, they will come’ But if you build it and it doesn’t provide value, they will soon leave!

We need to focus on the fact that the project is only as successful as the business value it adds to the organization.
 If we’re producing a something, the evaluation factors for “success” are clear. We need to use our project management skills to bring this product to market quicker so we can get it sold to a large portion of the customer base before the competition is able to produce a similar or even better product.
 Without connecting the project to the business need, great product could be a failure from the organization’s return on investment (ROI) point of view.
 Customer satisfaction includes in business need criteria.
Motivating teams and making difficult decisions on the spot become easier when we understand specifically how the completion of this project is intended to benefit the company.

In order for a project to be successful, the project team must:
 Select appropriate processes required to meet the project objectives,
 Use a defined approach that can be adopted to meet requirements,
 Comply with requirements to meet stakeholder needs and expectations, and
 Balance the competing demands of scope, time, cost, quality, resources, and risk to produce the specified product, service, or result.