The success of the project is dependent upon the clear definition of objectives. This decisive stage must be awarded the utmost attention, both in the initiation phase of a project and its further progression.
Subobjectives: time – cost – quality
In project management we distinguish between three interdependent target dimensions in the so-called magic triangle, with these equally targeted within the project:
1. Schedules (time)
Schedule objectives: When exactly is the project to be commenced and when completed, what does this mean for individual subprojects and work packages? Are there fixed dates that the customer has prescribed, for example testing or partial acceptance? Are there milestones that have already been defined by management?
2. Cost / resources
Cost objectives: what budget, what additional resources, such as tool time, computer capacity etc. is available to the project team? What employees will be available, with what qualifications and to what scope? Who decides on their employment? What competency does project management have, what may be decided within the project, what needs to be presented to management?
3. Results (quality)
What results need to be present, in what quality? What exactly is the scope of supply and services of the project, what is no longer included?
The triangle is “magic” because the trick of achieving all three dimensions equally often only appears possible with the use of magic in many ambitious projects. Naturally, this highly subjective perception may be avoided with the use of solid planning.
Although the achievement of one or two of the three key defined objectives is often presented as a major success in practice, this is not truly sufficient when adhering to the book.
Objective criteria SMART
The criteria that an objective should meet in order for it to be utilisable in project management can be reduced to five key criteria:
S Objectives must be described specifically, clearly and positively.
M Achievement of objectives must be measurable.
A Achieving the project objective should be attractive for the project team.
R The objective must be realistically achievable.
T The objective must have a time schedule.
If these five simple objective criteria were maintained throughout, there would be fewer problems in many projects.