Abstract
The most common criteria cited for successful projects are delivery time, cost, and quality. Therefore, it is necessary to fulfill these three criteria to ensure a project's success. However, in project planning, the presence of ambiguous conditions and uncertainty imply that fulfilling the aforementioned three criteria do not necessarily assure a high value for customers. This may occur because customers expect improved quality due to additional input resources, and their expectations exceed the pre-determined quality standards. To provide greater project value, management should measure the intrinsic value of the project by benchmarking the degree of achievement against the expectations of stakeholders. This study examines the process of value evaluation that determines the management index of the project based on the stakeholder's expectations.
