Addresses the needs and expectations of stakeholders.
May make or break a project, but not necessarily controllable.
Takes away element of subjectivity in terms of evaluating success.
Puts everybody on the same page.
It is agreed with stakeholders during the concept stage.
Can be changed during the project life cycle through change control.
Quantifiable. Can be either tangible or intangible.
It's a measure of progress against intial baseline.
It's a set of fixed principles to guide the project starting from the definition phase.
Benefits is a measures of progress on success criteria.
KPIs should not be used to establish baseline at the start of a project.
Benefits are a valuable and quantifiable improvement resulting from a project.
KPIs can normally only be realized after project handover and closeout.
Success criteria focuses on the project and what the Sponsor must deliver .
Benefits focus on the business and what the PM must achieve.
Benefits management is the identification, tracking and realization of benefits.
It is not the same as success criteria.
It is generic to all projects.
Having it guarantees project success.
Not having it may harm the project.