Are you defining project success the wrong way? Most project managers are — at least according to PMI’s Dave Garrett.

Project Management Happy Hour hosts Kim Essendrup and Kate Anderson sit down with Dave — Senior Advisor at the Project Management Institute (PMI) and co-founder of ProjectManagement.com — for a frank and real conversation about PMI’s new definition of project success to talk about how realistic it is, and what it means for the future of our profession.

For decades, project success was judged by the “iron triangle” — scope, schedule, and budget. But PMI has officially redefined it:

“A successful project is one that delivers value worth the effort and expense.”

Dave explains how this updated definition shifts the focus from checking boxes to delivering outcomes that truly matter — and how every PM can start measuring success through value creation instead of rigid constraints.

The discussion digs into PMI’s new M.O.R.E. framework — a practical mindset for modern project leaders:

• M – Manage Perceptions: Build trust and alignment with stakeholders.

• O – Own Success: Don’t just deliver; ensure the value lands.

• R – Relentlessly Reassess: Constantly re-evaluate priorities and adapt to change.

• E – Expand Perspective: See the bigger picture across business strategy, customers, and society.

Dave also shares lessons from his early startup days building Gantthead.com, the dot-com crash, and how those lessons apply in today’s AI-driven project world. You’ll hear how the rise of automation is making project management more human, pushing PMs to lead through empathy, influence, and strategic insight rather than process checklists.

If you’ve ever struggled with the question, “Was my project really a success?”  this episode will give you a fresh, empowering way to answer it.

Key Takeaways

• PMI’s official definition of project success now centers on value, not just time, cost, and scope.

• The M.O.R.E. mindset helps PMs evolve beyond administrators into strategic leaders.

• AI will augment, not replace, project managers — freeing them to focus on human connection and business impact.

• “Success” is contextual: a delayed project that delivers exceptional value can still be a win.

Guest Links

• Learn more about PMI’s Project Success initiative: pmi.org/projectsuccess

• Connect with Dave Garrett on LinkedIn

• Explore PMI’s AI resources: pmi.org/ai 

Want even more? Join us at pmhappyhour.com/membership to get PDU certificates for episodes, downloadable templates, access to our PM community, and 1:1 time with Kim and Kate.