Developing a value-centred proposal for assessing project success
By: YU, Angus G
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Contributor(s): FLETT, Peter D | BOWERS, John A.
Material type: 
ArticlePublisher: Amsterdam : Elsevier, August 2005Subject(s): Valor e Beneficio | Custo | Tempo | Qualidade | Critérios de Sucesso do Projeto | Concepção do Projeto | Execução do Projeto | Operação do ProdutoInternational Journal of Project Management 23, 6, p. 428-436 Abstract: This conceptual paper proposes a value-centred approach to measuring project success. The paper adopts a product-based project definition and a corresponding project lifecycle model. After reviewing briefly the literature, the paper defines the concepts of the net project execution cost (NPEC) and the net product operation value (NPOV). Twelve possible project outcomes are outlined based on values of NPEC and NPOV at project completion compared with their initial estimates. The proposed scheme potentially enables project stakeholders to reach the same project success or failure verdict. It also addresses many issues hitherto encountered in the quest for project success criteria.
This conceptual paper proposes a value-centred approach to measuring project success. The paper adopts a product-based project definition and a corresponding project lifecycle model. After reviewing briefly the literature, the paper defines the concepts of the net project execution cost (NPEC) and the net product operation value (NPOV). Twelve possible project outcomes are outlined based on values of NPEC and NPOV at project completion compared with their initial estimates. The proposed scheme potentially enables project stakeholders to reach the same project success or failure verdict. It also addresses many issues hitherto encountered in the quest for project success criteria.
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