Project Evaluation: 5 Key Steps to Measuring Success

Managing a project is always challenging, but doing it without a proper project evaluation process in place is just plain wrong. It’s like trying to run a marathon blindfolded!

Luckily, there are certain steps you can follow to enable a systematic and well-timed project evaluation. If you’re interested to learn more, scroll down just a little bit!

*This article is the abridged, adapted version of the blog post originally published on the Plaky blog: https://plaky.com/blog/project-evaluation/?

What is project evaluation?

Project evaluation is a systematic analysis of all relevant project data whose aim is to verify if a project meets its original goals and objectives.

By systematic analysis, we refer to the use of different project metrics that can clearly show if the project is on the right track and identify areas for improvement on time.?

As you know, every project is unique. Therefore, metrics used for a marketing campaign will hardly be suitable for heavy civil projects.?

But, whatever metrics you choose to assess your project’s performance, make sure the data and reports are transparent and easily accessible to both your team members and stakeholders. It’s the best way to foster trust and develop a sense of shared responsibility.

A 5-step guide to an effective project evaluation process

Now, let’s move on to the exact steps you need to take for your project assessment.

Here are the 5 steps you should follow to get the most out of your evaluation process.

#1 Draw up a project evaluation plan

If your aim is to carry out a comprehensive evaluation, you should definitely start with a good game plan.?

But, before you draw up the plan, you should first define your project goals and objectives. Make sure you establish S.M.A.R.T. goals so that you can take relevant metrics into account.

Also, your project evaluation plan should be aligned with the stakeholders’ success criteria. When you know what’s expected, you can easily determine:

• Evaluation methods (focus groups, surveys, performance metrics analysis, etc.),?
• Data sources (business statistics, stakeholder feedback, project reports, etc.), and
• Evaluation timeline (quarterly, after project milestones are met, at the end of a project, etc).

#2 Carry out project evaluation

You can evaluate your project whenever you feel it’s necessary or you get a request to do it. However, there are 3 main types of evaluation typically done in some crucial moments for the project:

• Pre-project evaluation — This is the point when you evaluate the feasibility of the project, meaning its technical, legal, and other aspects, along with identifying potential risks.
• Ongoing evaluation — When the project is in progress, the evaluation is on the go as well. If you carry out this type of evaluation, you are able to monitor progress in terms of budget, schedule, work quality, and team performance. Also, ongoing evaluation makes it easier to spot road bumps and take corrective action on time.?
• Post-project evaluation — This evaluation is done after the project is finished, and it is expected to show you whether the project meets the goals and objectives set at the beginning. Post-project assessment makes it possible to draw lessons learned, discuss the outcome with the stakeholders, and think about practices that need improvement in the future.

#3 Gather reliable data

This step might be time-consuming, but the results you’ll get are worth it.

Depending on your choice of metrics and tools, you’ll have to gather:

• Qualitative data (such as stakeholder feedback, team member interviews, and transcripts),?
• Quantitative data (such as the number of deliverables, budget metrics, and resource utilization), and
• Observations (refers to the recording of all actions or events related to a project).

You are free to combine different data to get the best possible insight into the project’s performance.

#4 Analyze the data

Once you collect all relevant data, you’re rich!?

Joking aside, it’s time to make something out of it and do the analysis.

Take time to carefully examine your key findings and compare them against the original project goals. See what worked well, what needs polishing, and what demands serious remodeling.

Try to identify trends and patterns in your analysis. See where your team was wrong and consider the overall context in which mistakes took place.?

The aim of the analysis is to bring good practices and weaknesses to light and make necessary refinements.

#5 Report the findings and consider your next steps?

This IS your final step, but it represents the pinnacle of your project evaluation.?

At this point, you are expected to prepare a clear and detailed evaluation report. This report should include all important information on:

• Evaluation process,
• Key findings,
• Areas for improvement,
• Risk management,
• Time compliance,
• Team performance,
• Budget analysis, and
• Overall work quality.

You are expected to share the report with stakeholders and team members. It is advisable to use charts and graphs to present the results so that everyone can easily understand them.?

Also, be sure to draw lessons learned from your findings and highlight them in your report for future reference.?

How Plaky helps you with project evaluation?

The project evaluation process is to be taken seriously, and Plaky is a great tool to ensure efficient data collection for analysis, monitoring, and reporting.?

Project tracking software such as Plaky gives you a clear overview of your project’s progress and simplifies data collection for your project status reports.?

With Plaky, you can:

• Centralize all project-related information,
• Have a bird's-eye overview of tasks, timelines, assignees, and statuses, and
• Get valuable insights into project progress and key metrics.

No matter the type of project evaluation you choose, Plaky is there to assist. In fact, you can visualize data in 3 different views — Table (default), Kanban, and Gantt view.?

Most notably, the Gantt view proves rather useful for project evaluation as it lets you:

• Easily detect potential delays and bottlenecks,
• Spot overlapping tasks and make adjustments to the schedule,
• Track project progress in real time, and
• Get a consolidated view of multiple projects.

Plaky’s Gantt view allows you to customize the chart to show specific task details, meaning you can choose the task bars you want to see.?

What’s best, you can export the Gantt chart and use it offline or even share it with team members or stakeholders in the form of a CSV or Excel file.?

So, what are you waiting for? Gather all your project data in one centralized hub and make your evaluation process a piece of cake!?

Sign up for a free account today!