Summary
This book summarizes its own conclusions with the following observations:[46],[47]
- Project managers will become more involved with making business decisions related to projects.
- Project success will be defined in terms of internal factors such as process improvement, financial factors such as ROI or cost reduction, success, customer-driven success such as customer satisfaction and the achievement of expected value, and future success such as add-on business and greater market share.
- Each of the four components of success related to projects defined in terms of value.
- The concept of managing for the value expected in the project rather than the triple constraint will become the major focus of an enterprise.
- Because we are working on projects that have a much greater risk in terms of threats and opportunities than ever before, the final achieved value of the project may be significantly different than what was expected by the stakeholders..
- Project managers will be transformed into business managers with an equal emphasis on project success and business success.
For project managers steeped in "traditional" project management, this book provides a thought provoking but valuable read, especially relating to the various definitions or interpretations of "value" and "success", and how these may or should be handled. These ideas, listed in detail in the Table of Contents, are presented in a crisp and straightforward language.
The book will probably be of most interest to those project management practitioners that are working on either side of contractual project agreements and are aspiring to higher levels of management. It is also possibly the most comprehensive of the three books we reviewed.
R. Max Wideman
Fellow, PMI
46. Ibid, p271.
47. In our view, the reader should be cognizant of the differences between success and value. And further, which is applicable to the project and which is applicable to its product. And finally, which responsibility is attributable to the project manager and which is attributable to the project's sponsor.
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