{"id":2317,"date":"2022-12-09T16:02:19","date_gmt":"2022-12-09T16:02:19","guid":{"rendered":"https:\/\/project.co\/?p=2317"},"modified":"2024-11-20T12:06:12","modified_gmt":"2024-11-20T12:06:12","slug":"measure-project-success","status":"publish","type":"post","link":"https:\/\/project.co\/measure-project-success\/","title":{"rendered":"7 powerful ways to measure project success"},"content":{"rendered":"
<\/div>\n

Project success is critical. <\/p>\n\n\n\n

But if we don\u2019t properly understand what <\/em>we\u2019re trying to do – and the means by which we\u2019ll measure whether that has been achieved – then our evaluation of success or otherwise will always be flawed and subjective.<\/p>\n\n\n\n

As a result, we can easily reach the wrong verdict on whether a project or initiative was successful. <\/p>\n\n\n\n

Based on our own gut feelings and preconceived ideas, we can waste huge amounts of time – and miss other great opportunities – all because we didn\u2019t use the right measuring stick: <\/p>\n\n\n\n

We didn\u2019t define what success would look like.<\/p>\n\n\n\n

So, in this article, let\u2019s take a look at 7 possible ways to measure project success – so you can be sure you\u2019re achieving what you actually want<\/em> to achieve.<\/p>\n\n\n\n

1. Schedule<\/strong><\/h2>\n\n\n\n

One of the most obvious criteria for project success is whether the work is completed and delivered on time. <\/p>\n\n\n\n

It\u2019s also, surprisingly, where many projects fall down – <\/strong>particularly in certain industries. Like IT: <\/p>\n\n\n

\n <\/i>Statistic\n<\/div>\n
\n 1 in 6 IT projects, for example, have a schedule overrun of 70%. <\/strong>\n
\n Source: <\/strong>Workamajig<\/a>\n <\/div>\n<\/div><\/div>\n\n\n

And construction:<\/p>\n\n\n

\n <\/i>Statistic\n<\/div>\n
\n In construction, 77% of \u2018megaprojects\u2019 around the globe are 40% or more behind schedule<\/strong>.\u00a0\n
\n Source: <\/strong>Autodesk<\/a>\n <\/div>\n<\/div><\/div>\n\n\n

It seems like sticking to schedule is a distinctly \u2018human\u2019 problem, representing an issue across many industries. So how do we fix it?<\/p>\n\n\n\n

There are two points to make here. <\/p>\n\n\n\n

One is the importance of scheduling software<\/a> as a way to keep things on track.<\/p>\n\n\n\n

If your team is using paper to-do lists (as 34% of people do<\/a>, according to our research) email inboxes or offline spreadsheets, to manage their daily work output and project progress – you\u2019re putting yourself at a huge disadvantage right from the get-go.<\/p>\n\n\n

\n <\/i>Statistic\n<\/div>\n
\n 83% of people say they have a good understanding of where their projects are up to when they use a project management tool to communicate with both their co-workers and clients\n
\n Source: <\/strong>Project.co Communication Statistics 2024<\/a>\n <\/div>\n<\/div><\/div>\n\n\n

Giving your team a single source of truth in terms of what work is due, and when it needs to be done, is invaluable in helping move things towards conclusion.<\/p>\n\n\n\n

It means everyone has their own designated task list – as well as visibility of what other people are working on.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

You also want to make sure you don’t fall victim to \u2018Parkinson\u2019s Law\u2019 – the idea that the work \u2018expands to fill the time available for it.\u2019  <\/p>\n\n\n\n

People often avoid reporting early task completion – even when it\u2019s been achieved – because they fear that it will imply that future deliverables can all be done as quickly. <\/p>\n\n\n\n

This means they spend the extra time performing checks and adding nice to have \u201cbells and whistles\u201d that aren\u2019t strictly required by the specifications, and – again – if unforeseen delays arise, the leeway has already been eaten up.<\/p>\n\n\n\n

It\u2019s important, culturally, then, to:<\/p>\n\n\n\n

    \n
  1. Make timelines and deliverables super clear and transparent throughout the business, and <\/li>\n\n\n\n
  2. Encourage and reward early delivery of work.<\/li>\n<\/ol>\n\n\n\n

    It also really helps to get an idea of when things are likely to be missed – getting an \u2018early warning\u2019 system in place where people can identify tasks or projects as being at risk of late delivery is important. <\/p>\n\n\n\n

    Whether this is a quick morning meeting every day, or a Kanban style system – like below – where people can highlight particular deliverables they\u2019re struggling with.<\/p>\n\n\n\n

    \"Kanban<\/figure>\n\n\n\n

    As a leader, this gives you a good overview of where projects are up to – ensuring they move smoothly through your workflow. <\/p>\n\n\n

    \n <\/i>Recommended Article\n<\/div>\n
    \n
    \n
    \"\"<\/a><\/div>\n <\/div>\n
    \n
    Everything You Need to Know About Kanban Project Management<\/a><\/div>\n
    Is kanban project management right for your business? Here’s everything you need to know, including core principles, methods, and benefits.<\/div>\n <\/div>\n<\/div><\/div>\n\n\n

    2. Cost & Profitability (ROI)<\/strong><\/h2>\n\n\n\n

    As the old saying goes, \u201cTurnover is vanity, profit is sanity<\/em>.\u201d <\/p>\n\n\n\n

    Making sales and having projects to work on is fantastic – but how many of them are profitable? How accurately is that measured? Is it measured at all?<\/p>\n\n\n\n

    Getting a solid understanding of your cost base is really important and can make the difference between a project that\u2019s profitable, and one that isn\u2019t.  <\/p>\n\n\n\n

    This might involve a lot of spreadsheet work in terms of tracking and itemising your expenses. <\/p>\n\n\n\n

    It might also involve tracking and logging time, particularly for service businesses. <\/p>\n\n\n\n

    In the \u2018Time\u2019 section on every Project.co workspace, you\u2019ll be able to compare the hours you\u2019ve allocated to a project, vs. the time you actually spent on it.<\/p>\n\n\n\n

    \"\"<\/figure>\n\n\n\n

    This can give you a great indication – at a glance – of your most profitable and successful projects.<\/p>\n\n\n\n

    3. Customer Satisfaction<\/strong><\/h2>\n\n\n\n

    Another business cliche as old as time itself – \u2018the customer is king!\u2019<\/p>\n\n\n\n

    You could execute a project that\u2019s perfectly on-schedule, and turns a healthy profit – but if the customer isn\u2019t satisfied with the outcome, can it really be considered a success?<\/p>\n\n\n\n

    Customer satisfaction is at the very heart of how many businesses work. <\/p>\n\n\n\n

    But again – it\u2019s important to consider how it\u2019s being tracked, how accurately, how often and how thoroughly?<\/p>\n\n\n\n

    There’s plenty of data out there suggesting that whether your customers are happy, or unhappy, only a tiny proportion of them will ever get in touch to tell you.<\/p>\n\n\n\n

    This means you have to be proactive in terms of encouraging feedback.<\/p>\n\n\n\n

    It might be as simple as just *asking* your customers how their experience was and what you could do to improve.<\/p>\n\n\n\n

    But there are other ways you could do this, too, of course. SurveyMonkey<\/a> offers a range of customer satisfaction survey templates<\/a>, for example.<\/p>\n\n\n\n

    4. Team Satisfaction<\/strong><\/h2>\n\n\n\n

    So, your project is on-time, on-schedule, and the client is happy. Full house, right?<\/p>\n\n\n\n

    Well, not necessarily. If the whole thing is painful for your team – leading to lost engagement, employee churn, absence and other undesirable effects – it clearly affects your long-term ability to continue to tick all these boxes.<\/p>\n\n\n\n

    And – on a human level – it just makes your business a lousy place to work. And nobody wants that, right?<\/p>\n\n\n

    \n <\/i>Recommended Article\n<\/div>\n
    \n
    \n
    \"\"<\/a><\/div>\n <\/div>\n
    \n
    4 ACTIONABLE communication strategies for happier teams<\/a><\/div>\n
    When teams communicate effectively, they’re happier. And they tend to be more productive as a result! Try these communication strategies in your organisation.<\/div>\n <\/div>\n<\/div><\/div>\n\n\n

    It\u2019s important, then, to make sure you\u2019re fully in touch with how your people are feeling on a regular basis, so you can identify (and resolve) any significant issues.<\/p>\n\n\n\n

    There are various tools and techniques to do this, including:<\/p>\n\n\n

    \n One-to-one meetings<\/strong>: regularly scheduled (we do them monthly) without a real agenda, for managers and their direct reports to chat through work and issues in an informal setting.

    Surveys<\/strong>: you could run them regularly, or annually – or both! – but these are great because they give you total flexibility on what you want to know from your team. You can anonymise these, too, so people feel empowered to give feedback they usually wouldn\u2019t.

    Daily reports:<\/strong> getting a daily report from your team is a quick and easy way to keep updated not only on work completed, capacity and issues (helpful from a resourcing and scheduling perspective) but also a general sense of how people are feeling. Asking for an update on peoples\u2019 wellbeing is, itself, a positive move – it demonstrates that you care, and invites feedback. This all lets you resolve issues quickly before they become more serious.\n<\/div><\/div>\n\n\n

    5. Output Quality<\/strong><\/h2>\n\n\n\n

    Technically, this is an extension of the two previous points – but it\u2019s worth mentioning in its own right.<\/p>\n\n\n\n

    Because another crucial measure of project success is the quality of the output itself, and how it stands alongside the product of your competitors.<\/p>\n\n\n\n

    It\u2019s really important to create a product that you and your team are proud of.<\/p>\n\n\n\n

    There are lots of ways to do this – particularly with creative work – and some of our favourites include:<\/p>\n\n\n

    \n Inter-team meetings: <\/strong>get your different teams together on a regular basis to review and critique work, discuss creative solutions and come up with ways to keep driving things forward – a great way to encourage your team to focus on self-improvement, and avoid them resting on their laurels.\u00a0

    360 degree feedback <\/strong>– 360 degree feedback is a review system where employees receive confidential, anonymous feedback from the people who work around them, usually including their manager, peers, and direct reports.\n<\/div><\/div>\n\n\n

    6. Cycle time<\/strong><\/h2>\n\n\n\n

    We\u2019ve talked at length about some of the criteria for delivering great work – on schedule, in profit, delighting your customers, inspiring your team, standing out at the top of your industry.<\/p>\n\n\n\n

    What if you could do all that – but even more quickly?<\/p>\n\n\n\n

    This is where measuring and improving cycle time comes in as a metric for project success.<\/p>\n\n\n\n

    Cycle time essentially means the amount of time it takes to get from the \u2018start\u2019 to the \u2018end\u2019 of your project, whatever that looks like. And, clearly, the quicker you can get from point \u2018A\u2019 to point \u2018B\u2019 – without sacrificing quality – the better the outlook for your business.<\/p>\n\n\n\n

    When you start to measure <\/em>this, you can think about improving <\/em>it. And that\u2019s where things get really exciting.<\/p>\n\n\n\n

    7. Continual improvement<\/strong><\/h2>\n\n\n\n

    Kaizen is a Japanese principle and the idea is to make small improvements <\/em>regularly, and that – collectively – these small gains add up to huge advances.<\/p>\n\n\n\n

    This is an important outlook, since most people aspire to be \u2018the best\u2019 at something – and feel that they\u2019ve failed if they don\u2019t achieve this. However this is a really simplistic and flawed way of thinking about things.<\/p>\n\n\n\n

    The reality is, it can take years to generate the skill and experience to become the best in your field and – unpopular as it seems – some might not ever become \u2018the best.\u2019 <\/p>\n\n\n\n

    Does that mean they\u2019ve failed? Of course not. It may sound trite, but all we can be is the best version of ourselves. <\/p>\n\n\n

    \n <\/i>Expert Tip\n<\/div>\n
    \n ALL OF THE FACTORS MENTIONED IN THIS ARTICLE CAN BE IMPROVED, LITTLE-BY-LITTLE, OVER TIME, USING KAIZEN.<\/strong>\n<\/div><\/div>\n\n\n

    Employing the idea of kaizen might mean looking back over past projects – at random if necessary – and comparing current <\/em>to past <\/em>output. This helps validate the idea of improvement over time – and, honestly, although it can feel embarrassing to look back over previous work, it certainly highlights the level of improvement you\u2019ve made, often without even realising. If that isn\u2019t a signal of success – then what is?!<\/p>\n\n\n\n

    You could also look at your average customer satisfaction, your % of projects delivered on time, your team satisfaction scores – and simply try to improve them, one tiny step at a time.<\/p>\n\n\n\n

    Final thoughts<\/h2>\n\n\n\n

    So, there you have it – seven ways to measure project success.<\/p>\n\n\n

    \n TL;DR\n<\/div>\n
    \n 1. Deliver on time
    2. Ensure profitability
    3. Keep your customers happy
    4. Keep your team happy
    5. Create quality outputs
    6. Measure and optimise cycle time of your projects
    7. Continually improve all of the above in a marginal improvement.\n<\/div><\/div>\n\n\n

    Do all seven and you\u2019ll put yourself in an amazing position to do your best work now, and long into the future! For more tips and tricks check out this article: How to Create a Project Schedule That Works<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

    Let\u2019s take a look at 7 possible ways to measure project success – so you can be sure you\u2019re achieving what you actually want to achieve.<\/p>\n","protected":false},"author":4,"featured_media":287736,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"off","_et_pb_old_content":"","_et_gb_content_width":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[13],"tags":[],"class_list":["post-2317","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-productivity"],"jetpack_featured_media_url":"https:\/\/project.co\/wp-content\/uploads\/2020\/05\/7-powerful-ways-to-measure-project-success-.png","jetpack_shortlink":"https:\/\/wp.me\/pgGBe0-Bn","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/project.co\/wp-json\/wp\/v2\/posts\/2317","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/project.co\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/project.co\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/project.co\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/project.co\/wp-json\/wp\/v2\/comments?post=2317"}],"version-history":[{"count":0,"href":"https:\/\/project.co\/wp-json\/wp\/v2\/posts\/2317\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/project.co\/wp-json\/wp\/v2\/media\/287736"}],"wp:attachment":[{"href":"https:\/\/project.co\/wp-json\/wp\/v2\/media?parent=2317"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/project.co\/wp-json\/wp\/v2\/categories?post=2317"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/project.co\/wp-json\/wp\/v2\/tags?post=2317"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}