Success Criteria Framework for Real Estate Project

Abstract

Project success is a controversial topic, although many researchers have talked about this, there is no census until now. Real estate project has many stakeholders participate in. For a project, it is impossible for project manager to satisfy all stakeholders’ needs. This paper presents a new success measurement framework using a Chinese real estate project, which identifies different success criteria for different key stakeholders throughout the phases of the project life-cycle. This framework can be used as a basis to evaluate project status and to forecast the results in the future at every stage. It could be help key stakeholders and project managers to ensure a project’s success. These matrices are tested by two case studies, from government agency, developer, bank, and customer view to estimate project success.Key words: stakeholders; life-cycle; real estate project success