Go Deeper on Metrics
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Topics: Estimating, Stakeholder Management, ProjectsAtWork
The traditional metrics of time, cost and scope are rarely sufficient to determine how a project or program is really performing. It’s important to dive deeper to find the ‘why’ behind the numbers and ensure surface-level data isn’t giving a false sense of security (or doom). Here are some ideas.
There is no argument that various software solutions have helped streamline the process of planning and managing large-scale projects and programs, enabling managers and executives to keep track of progress while also measuring their team's’ effectiveness. The features integrated into these solutions make it easy to collect and review data, but it can be difficult to pinpoint which metrics to use in order to assess productivity and make needed changes.
We’re all familiar with the more traditional project measurements: time, cost and scope. But those metrics rarely provide enough detail. While completing a large initiative is noteworthy, simply finishing it on time doesn’t always equate to success. Likewise, wrapping up a project over budget doesn’t necessarily indicate failure. And changing scope midstream doesn’t mean your project is doomed.
Throughout the course of an initiative, measuring performance on a regular basis helps you identify problems that might throw you off course. Just check the project dashboard and you know where …
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