Project KPIs or Project OKRs?
Gabor Stramb
On the mission to help 10,000 People Pass CAPM/PMP by 1st Try ?? | Available for 1:1 Coaching | Best Practice Into Action
PMP OS Launch: June 17, JourneyLab, Skills, 1-2-1 Productivity
Read on Substack: AgileAdmiral / Read time: 5 minutes
Welcome to The Agie Admiral weekly newsletter where I provide actionable ideas to help you build a high-performing Project Management career.
Today at a Glance:
?? Announcement - PMP Operating System - Launch on June 17th
?? Learning - Understanding Project KPIs and OKRs
?? Skills - Top 10 Proven Categories of Deliverables a PM Must Explore
?? Productivity - How to manage your own time effectively as a Program Manager
?? Tool of the week - JourneyLab
?? Community - Weekly CAPM & PMP Study Group Schedule
?? PMP Operating System - Launch on June 17th
Learn How To Pass PMP Exam from filling Application, defining the 8 weeks study plan, Exam Strategy and Understand PMI Mindset.
Launch on June 17th → for more details email me here: [email protected]
Understanding Project KPIs and OKRs
Both KPIs (Key Performance Indicators) and OKRs (Objectives and Key Results) are essential tools in project management, but they serve different purposes and have distinct characteristics. Here’s a detailed explanation of each, along with their differences:
Key Performance Indicators (KPIs)
Definition: KPIs are quantifiable measures that evaluate the success of an organization, project, or activity in meeting its objectives for performance.
Characteristics:
- Quantitative: KPIs are usually numerical and based on data.
- Specific: They focus on specific areas of performance. - Measurable: There are clear criteria for measuring progress.
- Time-bound: They are tracked over a specific period.
- Actionable: They provide information that can lead to actionable insights.
Examples of Project KPIs:
? Project Completion Time: Time taken to complete a project compared to the planned schedule.
? Budget Variance: Difference between the budgeted and actual project costs.
? Resource Utilization: Efficiency of resource use (e.g., labor, materials).
? Quality Metrics: Number of defects or issues found during the project.
? Customer Satisfaction: Feedback scores from clients or stakeholders.
Objectives and Key Results (OKRs)
Definition: OKRs are a goal-setting framework that defines objectives and tracks the outcomes needed to achieve them.
Characteristics:
- Qualitative and Quantitative: Objectives are qualitative, while key results are quantitative.
- Ambitious: Objectives are often aspirational, pushing teams to achieve more.
- Transparent: OKRs are typically shared openly within an organization.
- Aligned: They align individual and team efforts with broader organizational goals.
- Flexible: OKRs can be adjusted more frequently, usually quarterly.
Components of OKRs:
Objective: A clearly defined goal, which is usually qualitative.
? Example: “Improve project delivery efficiency.”
Key Results: Specific, measurable outcomes that indicate progress toward the objective.
? Example 1: “Reduce average project delivery time by 20%.”
? Example 2: “Increase on-time project delivery rate to 95%.”
? Example 3: “Achieve a project quality score of 90% or higher based on post-project reviews.”
Choosing Between KPIs and OKRs
When to Use KPIs:
领英推荐
When to Use OKRs:
Conclusion: KPIs and OKRs are complementary tools in project management. KPIs help maintain performance standards, while OKRs drive progress towards ambitious goals. Understanding the differences and applying them appropriately can enhance your project's success and organizational alignment.
Top 10 Proven Categories of Deliverables a PM Must Explore
Have you ever felt like your project requires more and more work?
Have you ever felt you needed to create yet another thing you didn’t anticipate initially?
This is the result of scope creep.
It means you failed to identify all deliverables at the start of the project.
Throughout dozens of successful projects, I identified the TOP 10 sources of deliverables you must explore.
#1: Project Charter and Scope Statement.
If you follow a structured project management process, you’ll analyze the project charter and project scope statement. These documents must describe the main deliverables.
In practice, most IT projects don’t have those documents.
#2: Typical Project Life Cycle
For example, the software development life cycle describes a lot of typical deliverables. You must decide whether to make one of them for your project.
UI designs, technical architecture documentation, and regression testing reports are examples of deliverables SDLC recommends as the best practices. You can make them internal for your own use.
Continue reading here: Article
How to manage your own time effectively as a Program Manager
I use a 1-2-1 framework.
Program managers wear many hats, but neglecting your own time management is a recipe for burnout.
Here's my 1-2-1 framework to stay focused and productive:
?? ????????: ???????? ????????: Block out a dedicated hour each day for focused work on your most important tasks. Silence notifications, find a quiet space, and tackle those high-impact projects.
?? ??????????: ???????? ??????????????: Dedicate two hours to supporting your team. This could be one-on-one meetings, team huddles, or addressing roadblocks.
?? ????????: ???????????????? & ??????????????????????????:?Allocate an hour for planning and communication. This includes reviewing strategy documents, roadmaps, program risks, dependencies, etc.
Continue reading here: Post
Tool of the Week: JourneyLab
JourneyLab is a modern project portfolio management tool designed for growing organisations by a team based in Sydney, Australia. It's anchored on connecting strategy with delivery to assure projects have purpose and create value. Unlike other platforms, JourneyLab is specifically designed so that even non-technical users can implement good practice, with a user-friendly interface and in-built guidance and resources.
You can try it out yourself with a no-commitment 14 day trial, or reach out to the team for a demo.
Weekly CAPM & PMP Study Group Schedule
Date: TUE, June 11
Topic: PMP exam study group - Steps 1,2,3 for PMP exam success
Host: Torge Oeverdiek
Link to session: https://www.dhirubhai.net/events/pmpexamstudygroup-steps1-2-3for7203873983128154112/
→
Date: WED, June 12
Topic: Agile Mindset
Host: Gabor
Link to session: https://www.dhirubhai.net/events/capm-weeklystudygroup-topic-tbd7199699773153574913/
→
Date: THUR, June 13
Topic: Hybrid Projects for PMP
Host: Gabor
Link to session: https://www.dhirubhai.net/events/pmp-weeklystudygroup-topic-tbd7199701025811746816/
I help ambitious IT project managers connect the dots between theory and practice.
5 个月Nice collection of great resources and ideas! Gabor, thanks for including my article!