Analysis of Project Success Factors and Project Success Criteria in Micro and Small Firms: Evidence from Slovenia

Abstract

Background/Purpose: The aim of this paper is to examine the use of project management practices in Slovenian micro and small firms (MSFs) and to identify project success factors (SF) and project success criteria (SC).
Methods: Research was conducted on a sample of 51 micro and 41 small firms in Slovenia. Data about project SF, SC, most influential decision makers on projects, to which extent selected project management tools are used, and about employment of full-time project managers in MSFs was gathered. Descriptive statistics was used for questionnaire survey data analysis. Similarities and differences between project management practices of micro and small firms were studied.
Results: Results show that ‘Clearly defined project objectives’ is the most important project SF, and ’Customer satisfaction’ is the most important project SC in MSFs. The owner/director of the firm has been identified as the most influential decision maker on projects. Results reveal that ’Clearly defined project objectives’ are identified as the most important for project success in MSFs.
Conclusion: Understanding project SF and SC in MSFs and the involvement of project SF and SC in decision making can improve project management practices in MSFs. Based on the results of this study and other similar studies, it can be summarised that managers and decision makers can improve project success by focusing on a narrow area which is defined as project SF. A focus on clearly defined project objectives in the project planning phase is identified as the most important project SF in MSFs. Results also show that customer satisfaction regarding projects is the most important project SC and impacts project success in MSFs.

Keywords: Project, Success, Factor, Micro, Small, Firm, Slovenia