Is this Project Successful?

When you see a huge oil or gas plant and want to ask yourself "Is this a successful project?" the first thing that jump to the mind is the money profit only but when determining whether a project suc­cessful, you should focus on the management of the project. You might see a high-rise building and think that the project seems suc­cessful, but is the project management successful too? To answer this question you need to answer the following three questions:

1. What is the plan and actual execution time?

2. What is the actual cost and budget?

3. Is the project performance according to the required specifications?

For the last question, we can answer yes because for a big project we cannot agree or approve anything with less quality or that is beyond specification. It is safe to assume that the quality is a red line that cannot be crossed or negotiated. Therefore, the successful project manager has to achieve the goal of the project and satisfy all stakeholders. At the same time, the completion of the project on time and cost will not be more than the approved budget.