Project success can be defined as reaching project objectives within budget and on time, and to the satisfaction of the stakeholders.
How hard can it really be?
According to research, only 2.5% of companies are able to successfully complete 100% of their projects. This means, nearly 98% of companies fail to produce planned deliverable within budget and on time and satisfy their stakeholders.
While a project is made up of several elements, such as a well-defined goal, resources, budget etc., effective implementation of them through a proper project management strategy is the key to project success. Project management is not only critical to organizational success but it is also a decisive factor in business performance.