The main reason for the business failure was a failure to establish measurable success criteria in the business case. The success criteria are the standards or indicators that are used to measure the achievement of the business objectives and the expected benefits of the project. The success criteria should be defined and agreed upon by the stakeholders in the business case, and they should be specific, measurable, achievable, realistic, and time-bound (SMART). The success criteria can help the business analyst and the project team to evaluate the feasibility, viability, and desirability of the project, and to monitor and control the project performance and outcomes. The success criteria can also help to ensure the alignment of the project deliverables with the stakeholder expectations and the market needs. If the success criteria are not established or are poorly defined in the business case, the project may fail to deliver the desired value and return on investment, even if it meets the time, cost, scope, and quality constraints. References: PMI Professional in Business Analysis (PMI-PBA)
Examination Content Outline1, page 16; Business Analysis for Practitioners: A Practice Guide2, page 86.