登录查看更多内容

How can you choose the right key performance indicators for a project?

由人工智能和领英社区提供技术支持

How can you choose the right key performance indicators for a project? Key performance indicators (KPIs) are measurable values that show how well a project is achieving its objectives and delivering value to the stakeholders. Choosing the right KPIs can help you monitor and improve your project performance, communicate your progress, and align your actions with your strategy. However, not all KPIs are equally useful and relevant for every project. In this article, we will share some tips on how to choose the right KPIs for your project in the context of accounting.

此文章中的业界达人

由社区从 5 条内容中精选。了解更多

1 Understand your project goals and scope

The first step in choosing the right KPIs is to understand your project goals and scope. What are the expected outcomes and benefits of your project? What are the specific deliverables and milestones that you need to produce? What are the constraints and risks that you need to manage? These questions will help you define the purpose and scope of your project, and identify the key success factors that you need to measure. You can use tools such as SMART (specific, measurable, achievable, relevant, and time-bound) criteria or logic models to clarify your project goals and scope.

添加您的观点

Asha Kanta Sharma

Manager - Finance & Accounts @ Opendoors Fintech | Financial Accounting
举报内容
To select the right Key Performance Indicators (KPIs) for a project, follow these steps: define project objectives, identify key stakeholders, align with business goals, apply SMART criteria, choose quantitative metrics, balance leading and lagging indicators, consider interdependencies, prioritize stakeholders, risk and contingency planning, benchmark, choose measurable impact, ensure data availability and accessibility, adapt to change, establish a feedback loop, and communicate clearly to stakeholders. This systematic approach ensures KPIs align with objectives, provide meaningful insights, and contribute to the organization's success.

已翻译

赞
Samantha D.

|| ????? ?????????- ??????????? ?????????? || ?????????? ??? ?????? || ???????? ??? ??? ????????? || ???’? ??????? ||
举报内容
Project scope is a way to set boundaries on your project and define exactly what goals, deadlines, and project deliverables you'll be working towards. By clarifying your project scope, you can ensure you hit your project goals and objectives without delay or overwork. Defining your project scope isn't a one-person job.

已翻译

赞

2 Align your KPIs with your strategy and stakeholders

The next step in choosing the right KPIs is to align them with your strategy and stakeholders. How does your project contribute to the overall vision and mission of your organization? How does it support the strategic objectives and priorities of your organization? How does it meet the needs and expectations of your internal and external stakeholders? These questions will help you align your KPIs with your strategy and stakeholders, and ensure that they reflect the value and impact of your project. You can use tools such as the balanced scorecard or the stakeholder analysis to align your KPIs with your strategy and stakeholders.

添加您的观点

Samantha D.

|| ????? ?????????- ??????????? ?????????? || ?????????? ??? ?????? || ???????? ??? ??? ????????? || ???’? ??????? ||
举报内容
To ensure your KPIs align with your strategy and objectives, you should consider their relevance to the outcomes you want to achieve, their specificity in order to be understood by everyone involved, their actionability so that they can be influenced by you and your team, their measurability based on data

已翻译

赞
Dr. Dennis Mawuli Korkoryi Jnr.

| Director of Finance | Adjunct Faculty -Business |
举报内容
KPIs should be simple, realistic, attainable, and time specific to facilitate its alignment to the strategy. They should be appreciated by team members, and this can be achieved if team members understand the strategy and the objectives of the project. Each stage of the project must be critically analyzed to ensure that there are no deviations. However, if deviations are identified, corrective measures must to be initiated before the next stage.

已翻译

赞

3 Select relevant and meaningful KPIs

The third step in choosing the right KPIs is to select relevant and meaningful KPIs. What are the most important aspects of your project performance that you want to measure and improve? What are the indicators that will help you track and evaluate your progress and results? What are the data sources and methods that you will use to collect and analyze your KPIs? These questions will help you select relevant and meaningful KPIs, and ensure that they are valid, reliable, and actionable. You can use tools such as the SMARTER (specific, measurable, achievable, relevant, time-bound, evaluated, and reviewed) criteria or the KPI tree to select relevant and meaningful KPIs.

添加您的观点

4 Balance quantity and quality of KPIs

The fourth step in choosing the right KPIs is to balance quantity and quality of KPIs. How many KPIs do you need to measure your project performance? How often do you need to report and review your KPIs? How will you present and communicate your KPIs to your stakeholders? These questions will help you balance quantity and quality of KPIs, and ensure that they are not too many or too few, not too frequent or too infrequent, and not too complex or too simple. You can use tools such as the dashboard or the scorecard to balance quantity and quality of KPIs.

添加您的观点

5 Review and refine your KPIs

The final step in choosing the right KPIs is to review and refine your KPIs. How are your KPIs performing in terms of accuracy, relevance, and usefulness? How are your stakeholders responding to your KPIs in terms of feedback, engagement, and satisfaction? How are your project activities and outcomes changing in response to your KPIs in terms of efficiency, effectiveness, and sustainability? These questions will help you review and refine your KPIs, and ensure that they are adaptable, responsive, and continuous. You can use tools such as the PDCA (plan, do, check, act) cycle or the feedback loop to review and refine your KPIs.

添加您的观点

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

添加您的观点

Siavash Eftekhari

Financial & Economic advisor to Board of Directors at CinnaGen Co.
举报内容
Choosing the right key performance indicators (KPIs) for a project is crucial, and they should directly align with the project's objectives. KPIs need to be SMART—Specific, Measurable, Achievable, Related, and Time-bound. For instance, if the project aims to enhance customer satisfaction, a relevant KPI could be the customer satisfaction score (CSAT). Ensuring that KPIs meet these criteria allows project managers to effectively track progress, collect meaningful data, and make informed decisions throughout the project lifecycle.

已翻译

赞

Accounting

+ 关注

给文章评分

我们借助人工智能创建了此文章。您认为这篇文章怎么样？

很棒不太好

举报此文章

查看全部

How can you choose the right key performance indicators for a project?

1

2

3

4

5

6

1 Understand your project goals and scope

2 Align your KPIs with your strategy and stakeholders

3 Select relevant and meaningful KPIs

4 Balance quantity and quality of KPIs

5 Review and refine your KPIs

6 Here’s what else to consider

Accounting

给文章评分

感谢您的反馈

更多Accounting相关文章

更多相关阅读内容