Factors influencing project success criteria

Abstract

This paper uses a literature review to present the risk factors that are most common to project success criteria through a project's entire life cycle. Empirical investigation and statistical analysis examined correlations between these factors. On the basis of the statistical correlations found we conclude that there are four factors in the initiation phase that could lead to the occurrence of additional risks factors in the implementation and evaluation phases. These are 1) having an incomplete set of criteria due to lack of knowledge about project context, 2) diverse and competing expectations about gains and benefits, 3) basing the project on unrealistic targets, and 4) using ambiguous criteria to describe the expected benefits or gains from the product or the project result. These factors affect all aspects of management and evaluation. The presence of these factors is also statistically correlated to the presence of other factors such as lack of organizational commitment and weakened alignment to success criteria in the performing organization and subjective assessment of the project outcome during evaluation phase.