Project success is frequently defined as the ability to deliver a product that completely satisfies the requirements of the customer, on-time, and on-budget.
To help project leaders achieve this goal it's imperative they follow: 'The Five Immutable Principles of Project Success' – a set of guidelines that act as a framework to search for answers in any number of different scenarios and situations.
To keep pace with the demands of project management and ensure project success, project leaders need to follow a rigid framework that permits them to produce the desired results. When managing a project, the key objective is to get to ‘done’ – the successful completion of a project, attaining all project requirements.
It is only once a project has reached done that it can be considered complete. By combining the five immutable principles of success with unified project management tools, reaching done can be accomplished, regardless of the size or complexity of the project.
Project Risk Analysis
Project risk analysis is the identification, assessment, and prioritisation of risks that can impact the success of a project. It represents one of the five immutable principles of project success.
By embedding continuous project risk analysis throughout the lifecycle of project, project leaders can successfully mitigate potential risks, and deliver projects that satisfy the requirements of the customer in a timely and affordable way.
Project risk analysis is one of the principles that is discussed within this guide and, when combined with the other four principles, creates a unifying foundation upon which project success can be achieved.
This guide for capital project managers provides a high-level description of all five unyielding principles, including detailed infographics and best practices, which enable project leaders to get to done.
To read more about ‘The Five Immutable Principles of Project Success’ and gain a deeper understanding of how to satisfy the requirements of the customer, on time, and within budget, download your free guide now.