Critical Success Factors

This simple tool helps you think about the critical factors which must be in place for you to consider this initiative to be a success.

To do this, create a mind map or a listing of: Must Do’s, Must Have’s, Must Result’s, Must When’s, and Must Who’s. For each category, identify critical success factors – i.e. things that must happen for us to consider this initiative a success.

critical-success-factors

As you consider each category, consider the following areas as thought starters: competitive pricing, technical capabilities, gaining market share, improving profits, investing in equipment, customized offerings, new products and services, defect free products, increased capacity, improved quality, assuring supplier quality, reducing parts, reducing new product development cycle time, targeted marketing, reducing SKUs (stock-keeping units), highly skilled and motivated workforce, simplifying customer experience, speeding up customer experience, rapidly accessing useful information.

As much as possible, use specific statements which include numbers, percentages, or targets.