Critical success factor (CSF) is the term for an element that is necessary for an organization or project to achieve its mission. It is a critical factor or activity required for ensuring the success of a company or an organization. The term was initially used in the world of data analysis, and business analysis. For example, a CSF for a successful Information Technology (IT) project is user involvement.
"Critical success factors are those few things that must go well to ensure success for a manager or an organization, and, therefore, they represent those managerial or enterprise area, that must be given special and continual attention to bring about high performance. CSFs include issues vital to an organization's current operating activities and to its future success."
Critical success factors should not be confused with success criteria; those are outcomes of a project or achievements of an organization that are needed to consider the project a success or to esteem the organization successful. Success criteria are defined with the objectives and may be quantified by KPIs.
Read more about Critical Success Factor: Concept History, Relation To Key Performance Indicator
Famous quotes containing the words critical, success and/or factor:
“The critical method which denies literary modernity would appear—and even, in certain respects, would be—the most modern of critical movements.”
—Paul Deman (1919–1983)
“The common idea that success spoils people by making them vain, egotistic, and self-complacent is erroneous; on the contrary, it makes them, for the most part, humble, tolerant, and kind. Failure makes people cruel and bitter.”
—W. Somerset Maugham (1874–1965)
“You factor in racism as a reality and you keep moving.”
—Jewell Jackson McCabe (b. 1945)