The world of business is filled with words, terms, phrases, and acronyms that can be confusing. The purpose of this article is to clarify the meaning of two of those phrases, Critical Success Factors and Critical or Key Success Indicators, and to describe their importance and use in business. Critical Success Factors are those variables or circumstances necessary to enable a positive outcome for a business program or strategy. The CSFs are the expected causal variables of a particular desired result. Examples include:.
How to Determine the Critical Success Factors for your organization. What are Critical Success Factors? This article aims to provide a comprehensive overview and application of Critical Success Factors. Types of Critical Success Factors. Five key sources of Critical Success Factors. How to write a good Critical Success factor. Using Critical Success Factors for Strategic and business planning.
Critical Success Factors. To ensure success in strategic planning there are several things that need to be in place before you even start. These usually take the form of an agreement to do things in a particular way. Engaged Leadership — from the outset the leadership team have to be actively engaged. They need to be seen to support the strategic planning effort and agreed on the methodology.
A critical success factor or CSF is exactly what it sounds like: something that is critical to the success of your project or organization. CSFs are three to eight key factors that have a direct impact on your project's viability and must be performed at the highest possible level if you want to succeed. Defining them is easy, but identifying a list of critical success factors for a given project may be harder. Critical success factors are the things that must go right if your business, organization or project is to succeed.