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 male has been persuaded to assume a certain onerous and disagreeable rôle with the promise of rewards—material and psychological. Women may in the first place even have put it into his head. BE A MAN! may have been, metaphorically, what Eve uttered at the critical moment in the Garden of Eden.”
—Wyndham Lewis (1882–1957)
“In looking back over the college careers of those who for various reasons have been prominent in undergraduate life ... one cannot help noticing that these men have nearly always shown from the start an interest in the lives of their fellow students. A large acquaintance means that many persons are dependent on a man and conversely that he himself is dependent on many. Success necessarily means larger responsibilities, and responsibilities mean many friends.”
—Franklin D. Roosevelt (1882–1945)
“It is change, continuing change, inevitable change, that is the dominant factor in society today. No sensible decision can be made any longer without taking into account not only the world as it is, but the world as it will be.... This, in turn, means that our statesmen, our businessmen, our everyman must take on a science fictional way of thinking.”
—Isaac Asimov (1920–1992)