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Abstract
The objective of A Framework for Project Success study was to investigate factors commonly critical to assisting with project success in contrast to project failure. Proctor & Gamble's New Growth Factory served as an example of a successful project, while the U.S. Coast Guard's 123-Foot Patrol Boat project represented those that have failed. An organization's investment in researching the project experiences of other organizations can save the sometimes catastrophic cost of failed projects. The environment of this study was that of a graduate-level course in project management as a discipline, while the environment for the application of the study's findings was that of projects of any size, location, and type of organization. The study's stakeholders were the five study team members along with their professor. The studied project stakeholders included the project sponsors, project managers, project management team members, project staff, contractor staff, and customers. The original objective of the study to investigate critical success factors of projects, retained its place in the study. The team decided also to contrast the factors against a failed project because project failures garner so much attention. The survey identified the project management plan, the responsibility assignment matrix, and monitoring of the budget, schedule, and products as important to project success. The professional experience concluded that insufficient external influence, hampered project manager, overly broad scope, and inadequate budget can lead to failure. The study generally found that external influence, project manager and scope, schedule, and budget are factors critical to project success and failure.
Keywords: Project Management, Quality Management, Budget, Project Manager
Introduction
Success is the intent of most every project, but project failures seem to attract more attention. The objective of this study is to investigate factors commonly critical to assisting with project success. The study's scope includes a breakdown of three common critical success factors applied to an example of a successful project along with an example of a failed project. Critical success factors (CSFs) are strongly related to mission and strategic goals of the business or project. Organizations' missions and strategic goals are focused on what needs to be achieved, whereas CSFs focus on the most important area and guide one to achieve the goal. (Mind tools)
Limitations of the study include the small...