Critical Success Factor

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A management term linked to an element that is necessary to achieve an organization or project’s mission is called as Critical Success Factor (CSF). It is also known as the Key Result Area (KRA) or Key Success Factor (KSF).

CSF is a critical factor/ activity required for ensuring an organization’s success. CSF term was initially used in data analysis and business analysis. For example, the critical success factor for a successful IT project is user involvement.

It should not be confused with success criteria as they are outcomes of a project or achievements of an organization that is necessary to consider the project or organization as a successful one. Success criteria is defined with the objectives and key performance indicators (KPIs) may be its quantifying unit.

The concept of success factors for CSF was developed by D Ronald Daniel of McKinsey & Company in the year 1961. John F Rockart refined this process into critical success factors during 1979-81. And in 1995, James A Johnson and Michael Friesen applied this process in many sectors like healthcare.

CSFs relation to key performance indicators is that its elements are vital for a successful strategy; it drives the strategy forward, either making or breaking the success factor of the strategy and so on.

Rajagiri Centre for Business Studies, a top-rated management institution, business schools in Kerala India. The education at RCBS, B schools in Kerala, goes beyond academics. Join at RCBS, best MBA colleges in Kochi and have a great career ahead.

To Know More   https://rcbs.rajagiri.edu/


Location: Kerala, India

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