Complexity Conquered

To create the most value, don’t (just) focus on the money

Posted by Satya Singh on Nov 23, 2018 1:30:00 PM

Value of an item must not be based on its price, but rather on the utility which it yields” – Daniel Bernoulli

A paradox of traditional project management practices is that project success is most frequently judged through three criteria;

  1. on-time or schedule achievement;
  2. on-budget or cost achievement; and
  3. met requirements criteria or scope achievement;

Yet the reason a project exists is to deliver value, either as benefits or outcomes, to an organisation. So why isn’t benefits realisation consistently part of the project success criteria yet?

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Topics: Project Controls, Project Competencies, "Value Management"