Navigating Projects no.16 | Key Performance Indicator in brief

A comprehensive set of metrics offers valuable insights into a program or project, aiding in the prediction of their success.

Organizations require information throughout the lifecycle of a program or project to assess its current status and forecast its success. Metrics play a crucial role in facilitating effective communication and reinforcing the project or program's purpose among stakeholders.

These metrics vary by industry and the specific nature of programs and projects. Successful organizations typically use multiple Key Performance Indicators (KPI) to evaluate a program or project from various perspectives throughout its lifecycle.

Some organizations establish KPIs before the project begins, monitor multiple perspectives during implementation, and measure success after completion. They also include portfolio-level KPIs to assess performance across various programs and projects.

In addition to project-specific metrics, organizations may consider broader business drivers such as resource retention and utilization. These metrics help evaluate the success of individual programs and projects, as well as the overall portfolio.

Metrics can be categorized into several performance areas, including but not limited to:

• Schedule,
• Financial,
• Earned Value,
• Scope,
• Quality,
• Changes,
• Customer Satisfaction,
• Process,
• Risk,
• Resources, and
• Procurement.

A comprehensive set of metrics offers valuable insights into a program or project, aiding in the prediction of their success.

Sincerely,

Tolga Yenici

#KPI #ProjectManagement