What metrics should you track to ensure project control success?

1 Scope metrics

Scope metrics measure the extent and completeness of the project's deliverables and requirements, helping to assess whether the project is meeting the expectations and needs of the stakeholders and users. Common scope metrics include a scope baseline, which is an approved version of the project scope statement, work breakdown structure (WBS), and WBS dictionary used as a reference point for scope management. Additionally, scope creep is an unplanned and uncontrolled change or addition to the project scope that occurs after the scope baseline is established. Requirements traceability matrix (RTM) is a document that links project requirements to deliverables and test cases, ensuring all requirements are met and verified. Lastly, requirements volatility is a percentage of change in project requirements over time, indicating the stability and clarity of the project scope.

2 Schedule metrics

Schedule metrics measure the progress and timeliness of the project activities and milestones, helping to evaluate whether the project is meeting its deadlines and delivering the expected results. The schedule baseline is an approved version of the project schedule that serves as a reference point for schedule management. Schedule variance (SV) is the difference between the actual progress and the planned progress of the project, measured in time units or percentage. Schedule performance index (SPI) is the ratio of the actual progress to the planned progress of the project, showing how efficiently time resources are being used. Lastly, critical path is a sequence of activities that determines the shortest possible duration of the project, highlighting dependencies and constraints of the project schedule.

4 Quality metrics

Quality metrics measure the quality and reliability of the project deliverables and processes, helping to ensure that the project meets the standards and specifications of stakeholders and users. Quality baseline serves as a reference point for quality management, while defect density indicates the quality of the project deliverables by measuring the number of defects or errors per unit of measurement. Defect rate measures the percentage of defects or errors found during testing or inspection, while customer satisfaction gauges the degree to which project deliverables and outcomes meet or exceed expectations and needs. All of these metrics are essential for assessing the quality of a project.

5 Risk metrics

Risk metrics are essential for measuring the uncertainty and potential impact of project events and conditions. They help you identify, analyze, and manage risks and opportunities. Common risk metrics include a risk register which documents identified risks, their causes, effects, probabilities, impacts, and responses; risk exposure which is the product of probability and impact; Risk Priority Number (RPN) which ranks risks based on their exposure, severity, and detectability; and risk response effectiveness which measures how well the risk responses have reduced or eliminated the risk exposure. By tracking these metrics, you can ensure project control success by keeping the project aligned with objectives, scope, schedule, budget, quality, and risk parameters. Additionally, this allows you to communicate project performance to stakeholders and team members while also resolving any issues or deviations that may arise during execution.