CHAOS Manifesto 2014
This week we officially released the CHAOS Manifesto 2014: Value versus Success & orthogonal. This CHAOS Manifesto is unlike previous CHAOS Manifestos. It is not just a subset of the online version of the CHAOS Chronicles, known as the CHAOS Knowledge Center (CKC). Rather, CHAOS Manifesto 2014 offers an orthogonal view of the CHAOS Knowledge Center and focuses on project value versus project success. The Standish Group is very excited about changing the conversation from success to value. While the last 21 years CHAOS research successful project as on time, on budget, and on target, also known as the “triple constraints” or the “iron triangle.”
For the last five years, however, we have also been studying a parallel track that turns out to be orthogonal to success. Rather than measure projects by the expected triple constraints (cost, time, and quality) we came up with a value measurement system. We have learned that much of what we do to ensure a successful project outcome is counter to creating value from your project investments. This is called the Success versus Value Orthogonal. In the report we show a graphic of a compass with relationship between value, success, failure and worthless. Value is at the top of the compass (north) and success is at the right side of the compass (east) or 90 degrees from value. This is the meaning of orthogonal.
CHAOS Manifesto 2014 details why success is often in conflict with true value, and describes a better way to increase the value of your project investments. In this value-based approach to project management we recommend SAFE projects, not because they are without risk (and some will fail, but that’s OK), but because they are simple, absorbent, fast, and economical. As part of our Value-based PM approach, CHAOS Manifesto 2014 highlights 20 “rules” based on the Success versus Value Orthogonal. In CHAOS Manifesto 2014 we are exploring other measurements of project success to consider value and other metrics. We have spent the last several months coding our CHAOS database with these new metrics.
The current CHAOS database is coded with the following attributes: on time, on budget, on target (% requirements), and satisfied (very high to very low). We already coded the database with value (very high to very low) and how closely it meets the strategic corporate goal (precise to distant). The CHAOS Manifesto 2014 includes the Success Value Comparison Table. The Success Value Comparison Table compares the success driven approach against the value driven approach. Some of the key attributes are scope of measurement, how they are managed, compliance/governance, budget process, project types, and project mix.
Members can download the CHAOS Manifesto 2014: Value versus Success & orthogonal in the report section of the new website. Non-members can purchase the report in our store.