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Critical success factors (MBA) Assignment

This paper will review the literature on what are the key factors that determine success of any project.The term success factor itself has been defined different by different researchers. While Clarke (1999) refers to it as ‘key success factors’, Belassi and Tukel (1996) call it the critical success/failure factor. Cooke Davies (2002) calls them merely ‘success factors. According to Torp et al. (2004, pp2) noticed CSFs to projects moved from a mechanistic approach to success determination which was relying on purely technical system and the traditional Cost-Time-Quality constraints to a combination of social and technical systems. Cooke-Davies further clarifies that project success is more difficult than project management success because the goals and methods are liable to change. Project success is measured against the overall objectives of the project while project management success is measured against the cost, time, quality and performance. Cooke-Davies further distinguishes between success criteria and success factors.People also differ on the number of success factors that are critical for project success. Daniel (1961), in an article published in Harvard Business Review, highlighted the type of information needed to support top management activities. He recognized the significance of non-financial data in order to achieve organizational goals and suggested that an organization’s information system should be centered on providing three to six success factors that help an organization achieve success. Rockhard in 1979 defined critical success factor (CSF) as the limited number of areas in which satisfactory results will ensure successful competitive performance for the individual, department, or organization (ESCC, 2006). He stressed that CSFs are the few key areas which have to be just right for the organization to flourish and for the manager to achieve

Critical success factors (MBA) Assignment