Unit 4 P4 Business

Critical success factors can be considered as set targets or milestones in order to achieve the objective. The team must understand what their objectives are in order to achieve, thus resulting in critical success factors.

They help a business measure how effective and successful the tasks they have performed have been in relation to their achievement of their business goals. There are usually a limited number of critical success factors identified which are strongly related to the mission and strategic goals of a business or project.

For example if a retailing company’s objective is to lower costs of items for customers, the team may focus on sourcing raw material that is cheaper or to increase monthly set KPI’s (targets) for staff in