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8 factors that will help you in the success of your project

Many conditions and limitations must be met by the project for it to succeed;

As there are planning, administrative and organizational efforts that must come together to achieve this desired goal, and these factors must be present before and after the launch of the project, that is, they must always be continuous, and if there are many projects that fail, there are also factors They help you in the success of your project and are the ones that you should keep in mind, whether you are an entrepreneur or even a project manager.

In " Entrepreneurs ", we list the most important 8 factors that will help you in the success of your project, as follows:

1) Strong feasibility study

Before you launch your project, you must prepare a solid and solid feasibility study for this project, through which you know the costs needed to start operating, the equipment required for work, the expected profits, the size of the market in which you operate, the strength of competitors and their weaknesses as well..etc.

All these matters should be known from the beginning, and of course, they can only be reached after careful and extensive study, and no one can participate in them, but rather it must be done by experts in this field.

2) critical success factors

It is a set of factors that you, as a project owner, set for yourself, through which you can know the success or failure of your project, but what should be noted here is that these factors must be measurable, and be derived, as well, from the study of clients Knowing their real needs and what they want to obtain through the products and services you offer them.

3) Planning

Every successful project has a plan that defines the status of the project at the present time, and where it is going in the future, which helps put the team members on the right path. As long as they know the project’s goals, they are expected to work to achieve these goals.

A good plan provides the following benefits: clearly documenting project milestones and deliverables, correct and realistic schedule, producing accurate cost estimates, detailing resource requirements, acting as an early warning system, and maintaining team awareness and project progress.

4) Motivating the team

Employees are the human capital of any company, and the only tool to achieve success, but provided that these employees are efficient, work hard, and enthusiastically at the same time, and then the project manager must work to motivate his team members always, and tell them about their progress and their achievement, and not about the negative aspects of their performance, as this would put them on the right path, and double their determination.

5) The ability to refuse

If you are looking for factors that will help you in the success of your project, know that refusal and daring to say “no” is one of the most important and prominent of these factors. Do not promise what you cannot provide, if you do, you will only postpone the problems for a later time.

The use of this right of refusal must be justified, for when you refuse one thing you must have sufficient reasons for it, and also sufficient reasons to make one task over another.

6) Avoid deviating from expectations

One of the most common factors/reasons for project failure is a mismatch between what you think your results and your customer's appraisal. For example, you might see that you are doing your best to satisfy a customer's needs, but that same customer thinks you didn't do any of that in the first place...

Therefore, to avoid this situation, you must agree decisively with your customers on what they really want, and what you will provide them, and together agree on ways to achieve those desires and aspirations.

7) risk management

Risks will not go away by avoiding them or avoiding thinking about them. Thinking about risks at the beginning of the project is indeed uncomfortable, but when you develop a plan for potential risks, it will be easy for you to deal with them when they occur, and therefore you will be able to reduce their damage to the greatest extent possible.

8) Close the project

It may not seem logical to talk about factors that help you in the success of your project and at the same time we talk to you about closing the project, but you should know that the project has a life cycle, and when it manages to meet all its critical success factors - which were referred to above - its survival is a wrong thing, and consumption of resources, Not in the interest of its owners.

And from that comes the importance of getting out and closing the project, which is undoubtedly a critical decision, but only successful projects that know what they are doing, and those projects that mess up randomly, will still consume resources without getting the slightest profit.