Performance KPIs for Project

Timeliness KPIs

• Cycle Time: The time needed to complete a certain task or activity. This is helpful for repeated tasks in a project.
• On-Time Completion Percentage: Whether or not an assignment or task is completed by a given deadline.
• Time Spent: The amount of time that is spent on the project by all team members—or, if you like, by each team member individually.
• Number Of Adjustments To The Schedule: How many times your team has made adjustments to the completion date of the project as a whole.
• FTE Days Vs. Calendar Days: How much time your the team is spending on a project by calendar days, hours, and/or full-time equivalent workdays.
• Planned Hours Vs. Time Spent: How much time you estimated a project would take versus actual hours. If the time spent differs from the amount of time anticipated, it’s a flag that you underestimated the resource allocation or budget, and your timeline may be affected.
• Resource Capacity: The number of individuals working on a project multiplied by the percent of the time they have available to work on it. This project KPI helps to properly allocate resources (and determine any hiring needs) and set an accurate project completion timeline.
• Resource Conflict YOY: Comparing the number of projects with resource conflicts year over year (YOY). Not having the resources to complete projects or having employees assigned to several projects at a time can lower efficacy. KPIs that compare these conflicts will show whether the situation is a persistent problem or a one-off situation that needs to be addressed.

Quality KPIs

• Customer Satisfaction/Loyalty: Whether or not someone is satisfied and would come back again. This can be measured effectively by a survey. This comes more into play when the project deals directly with a client or customer.
• Net Promoter Score: Similar to customer satisfaction and loyalty, NPS (or Net Promoter Score) is a user satisfaction KPI measured by a one-question survey whose purpose is to gauge brand loyalty.
• Number Of Errors: How often things need to be redone during the project. This is the number of times you have to redo and rework something, which affects budget revisions and calendar revisions as well.
• Customer Complaints: Keep in mind that the “customer” of the project could be someone internal—does someone from your organization complain because someone else isn’t getting things done?
• Employee Churn Rate: The number or percentage of team members who have left the company. If your project teams have high turnover, it might indicate the need to improve management and the work environment. Churn ultimately slows down projects and creates higher costs for the company in the long run.

Effectiveness KPIs

• The number Of Project Milestones Completed On Time With Sign Off: There are different parts within a project—are they being completed in a timely manner? Additionally, were the milestones completed and approved by the owner or buyer?
• Number Of Returns: If you have a capital project that requires many parts, you may track the return rate of those parts; this helps you see if you did a good job planning or adjusting to the project during implementation.
• Training/Research Needed For Project: You may track this in hours, number of courses, or something similar. If you need to do a lot of this, your project might get started later than you hope. Another way of looking at this is asking, “What percent of resources did you have at the beginning of the project that was qualified to immediately begin working on the project?”
• The number Of Canceled Projects: Tracking how many projects have been paused or eliminated. A high number of canceled projects could indicate a lack of planning, lack of goal alignment, or an inability to take on new projects.
• The number Of Change Requests: The number and frequency of changes requested by a client to established scope of work. Too many changes can negatively affect budgets, resources, timelines, and overall quality.
• Billable Utilization: The percentage of project hours you can bill to a client. Billable hours relate to revenue-generating, project-related tasks, whereas unbillable hours are typically more administrative, including things like drafting and negotiating proposals.

Performance KPIs

• Percentage of Job Candidates Who Meet Job Criteria: Helps in evaluating the effectiveness of job postings in reaching top candidates.
• Rate of Internal Job Hires: Shows the effectiveness of organizational talent development.
• Rate of Internal Referral Hires: Allows managers to see the value-added when current employees help to identify and acquire talent.
• Performance of New Hires: The performance of new hires can be compared to that of other employees. Typically done by evaluating performance reports.
• Internal Promotions Vs. External Hires: This ratio measures how many people already working at a company are considered for internal promotion versus the number of externally attracted people. It can be particularly effective when looking at organizational succession planning.
• Internal Promotion Rate: Internal promotions indicate successful retention and growth of top performers. It can be determined by dividing the number of promoted individuals by the total number of employees.
• Suggestions per Employee: Evaluates employee engagement in improving business processes, and reflects on the openness of a company to employee input.
• HR-to-FTE Ratio: The number of HR full-time equivalents divided by the total number of full-time equivalents. It helps determine HR's ability to provide services. Larger organizations typically have a smaller ratio, but more HR staff overall, then small businesses.
• Cycle Time To Process Payroll: Shows timeframe of the process, giving projection if assistance/updated process is needed. This is the number of business days in the payroll process from start to finish.
• Cycle Time To Resolve Payroll Errors: The number of business days it takes to resolve payroll error reported by employees. A high number of days could indicate the need to review your payroll process.
• Percentage of Workforce Below Performance Standards: This measure keeps a tab on the amount of low-performing employees in an organization.