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It has been a well‐recognized axiom in project management research that the project implementation process can be greatly facilitated by addressing a variety of project critical success factors. It is argued here that critical factors often fall into two distinct sub‐groups: those related to initial project planning and those concerned with subsequent tactical operationalization. A field study was conducted to explore changes in the perceived importance of project planning and tactical factors across four stages in the project life cycle. The sample consisted of 408 managers currently involved in projects. It was found that the relative importance of planning and tactical factors varies across the project life cycle. Further, the perceived importance of these factors is contingent upon the type of success measure employed. When an efficiency success measure is used, planning factors are initially perceived to be of high …