The Key Categories of CSFs

In my opinion, having a competent project manager to manage your project is not enough to guarantee a successful project outcome. The reason is that, if certain Critical Success Factors are there to support the project manager, even if the project manager is not experienced or competent enough, there is still very high possibility for the project to be successful.

I like the idea of the 4 M's which was talked about in the Chapter 8, in the book titled "Construction Management" that was written by Daniel W. Halpin and Ronald W. Woodhead. The 4 M's are:

1. Money
2. Machines
3. Manpower
4. Material

By leveraging on that, based on my observation and experience in managing a few troubled IT projects, I have identified the following Five Key Aspects of the Critical Project Success Factors (CPSF) that can be based on:

1. Manifest
2. Money
3. Methods, Machine, Tools & Technology
4. Management, Man Power & Stakeholders
5. Time

The CPSFs have to be addressed accordingly during those key project phases:-

1. Project Start-up
2. Project Initiation
3. Project Planning
4. Project Execution
5. Project Hand-over
6. Project Closure

Some of the CPSFs are beyond project manager's control, but have to be addressed through good working relationship with respective stakeholders.

Critical Project Success Factors (CPSF)

Now I am doing some researches and studies on the projects that I have completed and some projects that I am running. The purpose of the research is to come out with a list of Critical Project Success Factors (CPSF) and how to address this Critical Project Success Factors in order to gain higher chance of project success later.

I will share these CPSF when I have fanalized them. Hopefully by June this year :)

KPIs for Project Management

Here are something to read about PM KPI: KPI explained

When we want to create KPIs for PM, we need to use the CSC (Critical Success Criteria) related to project management. This means that the KPIs must be related to Time, Budget and Scope (TBQ) tripple constraints.

In order to relate to these three critical criteria, the assumption is that tasks contribute to scope. Each task involve resource. Each resource is related to cost. Each task needs time for completion. Therefore Earned Value Analysis or Management is the tool that we usually used to measure these three key performance areas.

The following are some sample of KPIs related to Project Management (or Earned Value elements):

Earned Value (EV) -- This is the value that we get back as a result of the investment. For example, after the contract is signed, nothing is done but the vendor is paid 10% of the project fee; so, the earned value is still $0. Unless some work already performed and can be translated to the value.

Schedule Variance (SV) -- To show what is the difference between the original plan and the actual progress.

Cost Variance (CV) -- To show what is the cost difference between the original project budget and the actual expenses.

Schedule Performance Index (SPI) -- To show how well the schedule is managed against the baseline. This means that, for every $1 we spend on the resource, how much progress is achieved.

Cost Performance Index (CPI) -- To show how well the cost is managed against the original budget baseline. This means that, for every $1 we spend on the resource, how much value we got in return. For example, if we pay $1, but we get $0.5 of the value of the result, that means the CPI is poor.

Other KPIs that may be applicable are such as:

Customer Satisfaction -- For example, we can measure the return customer in quantity, or customer terminate the contract, etc.

Process Efficiency -- For example, the speed in getting one job done is compared between the post-project to the pre-project measurement.

Quality Efficiency -- For example, the number of defects, etc.