Response to Forum: Success Rate of Projects

I believe project success can be classified into multiple dimensions beyond simply meeting the original scope, budget, and timeline. A project is traditionally deemed successful when it delivers the intended outcomes on time and within budget while meeting stakeholder expectations. However, even projects that fail to meet these metrics can still be valuable if they generate meaningful insights, foster innovation, or lead to the development of new initiatives. In industries like medical device development, failed projects often provide critical data that drive future product improvements, making them partially successful. From my perspective, true success is measured not only by the project’s deliverables but also by its long-term impact, including knowledge gained, process improvements, and the value it adds to future endeavors. Based on this broader definition, I would estimate that around 60-70% of projects can be considered successful in some capacity, as even projects that do not meet their original goals frequently offer valuable lessons or strategic benefits.