Episode 222 – Rethinking Success: Insights from PMI’s Project Success Initiative

Maximizing project success requires shifting focus from traditional triple-constraint metrics to a broader, stakeholder-centric definition that accounts for value, effort, and expense. Dave Garrett, Senior Advisor to the CEO of PMI, introduces the "MORE" framework—Manage Perceptions, Own project success, Relentlessly Reassess Project Parameters, and Expand Perspective—to guide this evolution. Research involving nearly 10,000 stakeholders across 141 countries reveals that projects are twice as likely to succeed when teams define success criteria upfront, implement performance measurement systems that guide decision-making, and track performance throughout the project lifecycle. Examples like the Sydney Opera House and the Tesla Roadster illustrate that projects often achieve long-term value despite initial technical or budgetary challenges. Ultimately, project professionals must evolve into business partners who actively manage stakeholder perceptions rather than merely executing tasks.