Projects – how can we measure success rates effectively?

Perceptions of success can vary among stakeholders and evolve over time, reflecting changes in how they assess progress, outcomes and the value generated by those outcomes.

Looking at the above criteria for project success, the PMI study showed that the proportion of successful projects – projects that delivered results worth the effort and investment – grew significantly.

The new method for measuring project success is based on the premise that success cannot be measured in absolute terms – but is largely based on factors that vary depending on the situation and the individual key stakeholder’s perspective on value.

The method involves representatives from various, weighted stakeholder groups assessing the project’s success on a scale of 1–10. A score of 9–10 equates to success, a score of 7–8 to partial success – and a score of 0–6 equates to failure (see figure).

The above metrics are included in the calculation of the project’s NPSS (Net Project Success Score). In order to use the metrics for cross-comparison and benchmarking, a so-called Global NPSS is calculated. This is done by subtracting the ‘failed’ score from the ‘successful’ score. This figure represents the project’s Global NPSS.

The above is a good way to monitor the project’s success. Customers and key stakeholders do not so much assess the project on whether it met the exact deadline or exceeded the budget, but rather on whether the project delivered value to the individual that was worth the effort and cost. In addition, this also gives an idea of where optimising processes and approaches going forward will deliver the most value.

As shown in the figure above, it emerged that the projects in the study which achieved the highest success scores both adhered to traditional project frameworks and were also rated as the most successful by stakeholders.

For further insight, we recommend reading PMI’s survey “Maximizing Project Success”.