How to Identify a Failing Project...???

Success Criteria and Performance Measurement

Success Criteria defined in a project shall act as a scale or benchmark. Achievement of this benchmark determines that the project is successful as per plan.
In order to assess whether project is on track or to forecast whether in future the project could be brought back on track, an effective project performance measurement system in line with the success criteria parameters are to be defined and implemented.
Success Criteria : Eg. Profit 10%, Milestones achieved within scheduled date etc.
Performance measurement : Earned Value Method (EVM) !
The performance measurement information and the success criteria forms the backbone any decisions made by the project management team for a healthy project completion.