HKSM

A broadly shared conclusion among intended beneficiaries, other stakeholders, and the project team that the outcomes delivered value that justified the time and money invested.

Key Points

• Success is judged by value delivered relative to effort and cost, not only by scope, schedule, and budget.
• It depends on alignment and agreement among beneficiaries, stakeholders, and project participants.
• Success criteria should be defined early and confirmed after delivery as benefits are realized.
• Perceptions of success can evolve; manage expectations and communicate results throughout the project.

Example

An agile team delivers a new customer self-service portal. After release, adoption rises, support tickets drop 30 percent, and customers rate the experience highly. Stakeholders, users, and the team agree the outcomes created value that outweighed the project costs and effort, so the project is considered a success.

PMP Example Question

During project closure, the project manager is asked how success will be determined. Which approach best reflects the concept of project success?

1. Meeting scope, schedule, and cost baselines regardless of outcomes.
2. Ensuring the sponsor alone is satisfied, since they fund the project.
3. Reaching a shared assessment among beneficiaries, stakeholders, and the team that the delivered outcomes provided value worth the time and money invested.
4. Achieving CPI and SPI greater than 1.0 at completion.

Correct Answer: C — Shared assessment that the value delivered justified the investment

Explanation: Project success is based on broad agreement that the project delivered value commensurate with the effort and cost, not solely on the triple constraint or EVM metrics.