The bellow article following the previous one in which I looked through the strategy concept is a summarized literature review done on the “Strategic Project Management” topic.
In today’s changing & competitive business world, seeing project success in just meeting the triple constraint of scope, time & cost in famous iron triangle doesn’t work anymore. In the other words, a project should meet more criteria beyond the iron triangle criteria for being considered successful. Managing a project strategically could create value and competitive advantages for a company and play an important guarantee role in project success of the company. The project strategy should be in alignment with the organization business strategies which are usually defined by the senior members of a company executive board.
Two of the world famous projects which are most fitted to the above view are F-20 aircraft and Sydney Opera House projects. The F-20 aircraft project met the triple constrain of scope, time and cost but was considered as a failed project by not selling even a single one in the world. In contrast, the Sydney Opera House project is considered as a well-known successful project and one the most important tourist attraction zone in Australia even by keeping this fact in mind that it finished behind schedule and was a cost overrun project.
By giving the above examples I think it is clearer that the iron triangle criteria assess the efficiency of project management activities and not necessarily assess and guarantee the project and final product success. So In today’s business world, the project strategy is a must have dimension in defining project success evaluation criteria.
I do appreciate if you, the respected reader share your comments regarding this article with me.
Motahareh Sadaghiani, PMP