Abstract
Measuring project success level is a challenging activity. This area of works has attracted many researchers to look deeper into the method of measurement, success factor identification, risk management, and many others relevant topics. However, the project management scope is limited until the project handover stage. After a project handover, the control of a project management changes from Project Management Team to the project owner/commercialization team. From an investor’s point of view, the success of a project delivery needs to be followed by the success of commercialization phase. This paper aims to present an approach on how we track and measure the progress and success level of a project investment in the commercialization phase. This is an interesting topic which probably often being forgotten in many practical case. Our proposed concept modify Freeman and Beale concept by estimating the variance between the Planned Net Present Value / Annual Worth (as it is in the Feasibility Study Document) and the Actual Net Present Value / Annual Worth (until the point time of evaluation). The gap will lead us to the next analysis and give us some important information, especially exposing whether our project investment performs better than the planning or underperformed. Some corrective actions can be suggested based on the provided information. Practical cases to exercise the concept is also provided and discussed; one case in a property sector in the middle of commercialization phase, and another case in a Power Plant investment approaching the end of commercialization phase.
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