3 Necessary Factors Of A Successful Project

Why bother on a project if its successful completion doesn’t bring benefits for your organization? The ultimate goal of undertaking a project is to benefit from it. Indicators that determine the level of success of your projects are usually increased customer satisfaction, more profits, higher conversion rate or some other essential indicators of performance

 

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A project will undoubtedly involve many individuals of different areas of expertise working together on a single goal to lift the organization to greater heights. However, most projects fail when problems arise in terms of costs, delays, etc. This causes stress and frustration for everyone working on the project. A project that looked so promising during the planning stages then collapses. So, how do you get around this? The three primary factors discussed below are necessary to improve the chances of the successful completion of your project.

Time

This refers to the time of completion and delivery of the project. Being able to deliver your project on time is important to both your customer and senior management. This gives you the time to get your resources available and prepared to take on the next project. On time project delivery isn’t that common, but when you are able to pull it off, it’s going to be a nice boost in your career as a project manager.

With regards to the customers, on time delivery could mean success and rewards, it might even get the customer to stick with you on the long run. This will also make your customer happy and you need that for the success of your business.

Budget

Another success factor is finishing the project with or less than the pre-set budget. Doing this is also rarely seen with projects and you give your chance a better chance at a great track record as a project manager. You will make your customer and senior management happy when you can achieve this.

To stay as close to budget as possible, you should pay a good attention to the scope. If you work outside the scope, that ultimately means you are using planned hours on unplanned work, which will probably result to shooting over budget. If there is going to be a creep in the scope, you should bring it to the attention of the official, get the budget increased and then you’d have increased the chances of completing the project on budget.

Customer Satisfaction

The third key factor for the success of a project is the level of customer satisfaction. This is a hard one to achieve but is aided by on time and on budget delivery. Sometimes, the satisfaction of your customers can be out of your control. To be a successful project manager, you need to be able to produce results that will make your customers happy. You can do this by always been there for them, keeping them in the loop with the progress of the project, treat them as an important part of the project and always address their needs on time. Your goal should always be to have a happy customer at the end of the project.

The above factors are essential for the successful completion of the project.

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