The traditional three characteristics of a successful project are defined by the project triangle:
- The project is executed on time
- The project is completed within budget
- The project produced the defined project scope or deliverables
A fourth characteristic is sometimes added:
- The project deliverables achieved the quality standards defined at the beginning of the project
A more modern definition of a successful project is concerned with perceived stakeholder value:
- Did the project provide the benefit(s) expected by the stakeholders?
- Does the work product produced by the project actually work?