If we consider only those projects that met (within say 10%) their initial budge

Question

If we consider only those projects that met (within say 10%) their initial budgets and deadlines, and incorporated at least 90% of the original requirements as successful, how does that change your answer to Project considered as successful if it's completed under budget? -While those projects may not be considered failures, they may well be considered "challenged." Was this recognized by the PM or organization, and if so, what did they do to ensure that success would not be so elusive next time?

Explanation / Answer

For any project , four measure constraints that defines the sucess of projects are :

Any compormise in any of the above parameters of the project such be considered as a failure.

For example: we have delivered the original scope within budget and schedule however we compromise in the quality. This project will be considered as failure even if it is meeting the expectation in terms of cost, budget and schedule.

Completing the project under budget will be considered as a scucessfull project unless if other three parameters of project Schedule, quality and scope of project is met as per goal targeted. And achieving this target within budget unless budget is not overestimated is really a challenge to achieve.

So from next time sucess or unsucess of project should be measured by achieving all targets of all four parameters.

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