This is a subscriber-only article.

Get an annal subscription to Entrepreneur+ for $49 $32.83 during our
Memorial Day Sale

Use code SAVE33 at checkout.

Subscribe Now

Already have an account?

Sign in
Entrepreneur Plus - Short White
For Subscribers

This Expert Explains When You Should Kill Your Project By tracking three measurements of success, you'll have a better idea of whether your project is working -- or not.

By Joe Worth

This story appears in the April 2016 issue of Entrepreneur. Subscribe »

Jonathon Kambouris

There's no scientific formula to answer your question that works for all companies. But there might be one that works for you -- and you'll know it because you created it. When you set benchmarks, you give yourself a way to measure progress as you go, rather than winging it. Typically, the simplest first measures of a project's success are time, cost and scope -- and not, I should stress, revenue or profits. (Not yet, at least, because not every initiative spins out cash immediately.) Break it down this way:


Every project needs a timeline with realistic -- not wishful -- weekly and monthly milestones. Factor everything in. Depending on the project's scope, for example, you may need to hire the manpower to pull it off, so factor in the weeks it'll take to pull that off. And once the clock starts ticking, consider yourself at its mercy. If you fall behind, it's not the clock's fault -- it's just the first sign that your project is failing.

The rest of this article is locked.

Join Entrepreneur+ today for access.

Subscribe Now

Already have an account? Sign In