Last Updated on: January 17, 2019
Success Your WayJan 3, 2019
The Standish Group is working on an update to the Project Resolution Benchmark (PRB) to include an option to create your own measurement of success. Currently, the benchmark presents three success models: Traditional, Modern, and Pure. The new model is called “Custom,” and it allows you to create your own personal measurement. Within the company profile, “Custom” allows you to add your own definition of success by selecting the six success options in any combination and ranges. Projects that meet your definition will be considered successful. Projects that do not meet your definition of success will be considered challenged. Failed projects are projects that are canceled or not used.
In the benchmark report, we will compare your projects against the 50,000 projects in the CHAOS Database for Traditional, Modern, Pure, and your new Custom definition of success. With the Custom feature, you can measure your projects against your own version of success. For example, the Traditional measurement is OnTime, OnBudget, and OnTarget—but maybe you would like to replace OnTime and OnBudget with “very high value” and “high value.We are planning to release the Custom feature in the first quarter of 2019.
For more information on the Project Resolution Benchmark, see our YouTube video: https://www.youtube.com/watch?v=cRPOPMhycrs&feature=youtu.be
Traditional Success is OnTime OnBudget and OnTarget; Modern Success is OnTime OnBudget with a Very Satisfied or Satisfied customer; Pure Success is a Very Satisfied or Satisfied customer and Very High Value or High Value return. These three models are highlighted in our current CHAOS Report: https://www.standishgroup.com/store/services/10-chaos-report-decision-latency-theory-2018-package.html
The six Success options and modifications are: 1) OnTime; 2) OnBudget; 3) OnTarget; 4) Customer Satisfaction with Very Satisfied, Satisfied, and Somewhat Satisfied ranges; 5) Return of Value with Very High, High, and Average Value ranges; and 6) Goalto the corporate strategy with precise, close, and loose ranges.
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CHAOS Tuesday News
CHAOS Tuesday Show #119 is an overview of the Good Sponsor Workshops conducted in 2017 and 2018. In this show, Jennifer Drake Ford provides a description of each of the Good Sponsor principles, and Hans Mulder follows each description with examples of exercises and feedback from the Good Sponsor Workshops, focusing on the individual skills supporting the principles. Hans also provides his own commentary on these skills, as well as feedback from Good Sponsor delegates. The show also provides an overview into the Good Sponsor Nanoclass and the types of skills nanoclass participants can acquire. Takeaways are:
- Definition and descriptions of Good Sponsor principles
- Brief introduction to the 50 Good Sponsor skills
- Workshop feedback on the 50 Good Sponsor skills
- Commentary on the 50 Good Sponsor skills
- What it takes to be a Good Sponsor
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