Five Immutable Principles of Project Success
There are Five Immutable Principles of project success, no matter the domain or context, they answer the question(s):
- What does Done look like in units of measure meaningful to the decision-makers? These units of measure start with what Capabilities are needed to accomplish a mission or fulfill a business strategy?
- What is the plan to reach Done for the needed cost, at the needed time, with the needed outcomes? This plan states when the needed Capabilities will be available, what are the needed Measures of Effectiveness, Measures of Performance, and Technical Performance Measures for each Capability, and when they will be available.
- What are resources are needed to reach done for the needed cost at the needed time? These resources include time, money, staffing, facilities all being available at the right time.
- What are the risks to reaching Done as needed and their handling plans? Since all risk comes from uncertainty that creates risk how can we handle reducible (Epistemic) uncertainties with the work of the project. The irreducible (Aleatory) uncertainties handled with “margin” – cost margin, schedule, technical margin?
- How are we measuring physical percent complete toward Done in comparison with the needed Measures of Effectiveness and Performance. The passage of time and consumption of resources, never a measure of progress.
With each immutable principle, we can develop the needed processes and practices – from agile software development to fully compliant US Government acquisition guidelines – to answer the question “what is the probability of project success” at the time intervals needed to take corrective or preventive action to “keep the program Green.”
PMI Talent Triangle: Technical Project Management (Ways of Working)