Project Management Institute

Forecasting success on large projects

developing reliable scales to predict multiple perspectives by multiple stakeholders over multiple time frames

The authors aim to develop a set of leading performance indicators to enable managers of large projects to forecast during project execution how various stakeholders will perceive success months or even years into the operation of the output. Project success is measured not just by completion of the scope of work to time, cost, and quality but also by performance of the project's output, outcomes, impacts, and thereby the achievement of the desired business objectives. Large projects have many stakeholders who have different objectives for the project, its output, and the business objectives they will deliver. The output of a large project may have a lifetime that lasts for years, or even decades, and ultimate impacts that go beyond its immediate operation. How different stakeholders perceive success can change with time, and so the project manager needs leading performance indicators that go beyond the traditional triple constraint to forecast how key stakeholders will perceive success or even years later.
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