For this week’s discussion, provide an example of a project (personal or professional) where you defined project success based on the concept of the Triple Constraints. Did your definition of success include a value component?
To identify a value component, you need to determine what value clients and stakeholders will receive at the end of the project. Kerzner (2013) says:
Unlike the use of quality as the solitary parameter, value allows a company to better measure the degree to which the project will satisfy its objectives. Quality can be regarded as an attribute of value along with other attributes. Today every company has quality and produces quality in some form. This is necessary for survival. What differentiates one company from another, however, are the other attributes, components, or factors used to define value. Some of these attributes might include price, timing, image, reputation, customer service, and sustainability. (p. 184)
Support your statements and conclusions using at least one of this week’s recommended readings and one current outside reference (a peer-reviewed scholarly article published in the last five years, references not to include required or recommended reading assignments, or the textbook).
Kerzner, H. R. (2013). Project management metrics, KPIs, and dashboards: A guide to measuring and monitoring project performance (2nd ed.). Hoboken, NJ: John Wiley & Sons.