The next step is to analyse the selected Value Drivers and identify the issues that,
if managed well, would move the team towards achievement of its targets or, conversely,
if managed badly, would destroy value. These are the Critical Success Factors.
Critical Success Factors (CSFs) are issues that must be managed successfully if the business
opportunity or project is to achieve its stated objectives (e.g. value, cost, schedule, quality,
HSE) and achieve its vision. It is important to note that CSFs change with time as the
opportunity or project moves through different ORP phases.
Taking each selected Value Driver in turn, the next step is to examine each one to
determine what the critical issues (the Critical Success Factors) are that need to be
managed in order to achieve the Stretch Targets established for the Value Driver.
For instance, taking Schedule as a Capital Cost Value Driver then the CSFs for the
schedule could be:
- well defined Project Specification
- timely design deliverables
- timely material deliveries
- quality of planning
- quality of contractors
- industrial relations climate
Each of the issues should be analysed to see whether there are already adequate plans in
place to address them or whether there is a need to develop/improve the plans.