Project Evaluation Criteria

In addition, some researchers conceptualise project outcome as a uni-dimensional construct concerned with meeting budget, time, and quality (Mir & Pinnington, 2014; Müller & Turner, 2007; Turner, 2009), whereas others consider it a complex, multi-dimensional concept encompassing many more attributes (Atkinson, 1999; Jugdev & Muller, 2005; Lim & Mohamed, 1999; Shenhar et al., 2001). Shenhar et al. (2001) argued that projects are strategic, and project outcomes should be assessed according to short-term and long-term project objectives. Their framework links project outcome with competitive advantage, and includes: efficiency (meeting schedule and budget goals); impact on customers (customer benefits in performance of end products, and meeting customer needs); business success (project benefits in commercial value and market share); and preparing for the future (creating new technological and operational infrastructure and market …show more content…
The first five criteria can be categorized as project efficiency criteria, while the last one (environmental impact) can be categorized as part of the sustainability criteria (this will be discussed in more detail later). Additionally, three dimensions of project evaluation (economic, social and environmental) were identified. Out of the six evaluation criteria, time, cost, and quality continue to capture the economic dimension, while safety and site disputes account for the societal aspects and, finally, environmental impact takes care of the environmental aspects. Further, the authors contend that the iron triangle criteria (time, cost and quality) can be called tangible measures, while environmental, safety, and site disputes can be called intangible measures for project evaluation. Thus, the project efficiency criterion encompasses either tangible or intangible