Subjective vs. Objective Success in Projects: Exploring Stakeholder Perspectives

Abstract

Traditionally, the success of projects has been primarily determined by the Time-Cost-Quality (TCQ) triangle, alongside the economic benefits they deliver. However, as the field of project management evolves, an array of additional factors have come into play, significantly complicating the assessment of what makes a project successful. This complexity is further amplified by the subjective perceptions of success, which vary among different stakeholders. Such variations in success perceptions can sometimes overshadow the traditional metrics of success, raising critical questions for research. This study explores the multifaceted nature of project success by identifying which stakeholders perceive it differently from others and how their perceptions deviate from the established success factors like TCQ and economic benefits. This research explores the intricate dynamics of project success evaluation by examining hypotheses such as whether a perceived low quality affects stakeholders' perception of success or how project managers and sponsors perceive the absence of financial benefits. Through qualitative and quantitative analysis, the study seeks to unravel the complex interplay between objective success metrics and subjective success perceptions, thereby contributing to a deeper understanding of what constitutes project success in project management practices.