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When evaluating PMs, its a good idea to evaluate how results were achieved and not just the results themselves. Having team and stakeholder satisfaction surveys conducted at regular intervals is one way to do this. I'd also look at assessing the judgment of a PM - what decisions have they made which resulted in project success or in delivering greater value to their customers?
Kiron's response is great especially about evaluating the "how results were achived" if the methods and processes aren't sustainable, the present success may directly translate into future failure
Our performance metrics are tied to corporate metrics. For example, we have objectives related to environmental sustainability then we have to find the way to use things related to that in our program/projects or created program/projects related to that.
Typically performance reviews are not timed with project delivery but usually tied-in to fiscal year-ends. Determining project performance at some intermediate point can be challenging. As well, recalling the success or failure of projects gone-by can be equally difficult. In the project world one should evaluate PM, and team, performance in conjunction with project completion - or specific milestones with lengthy endeavors.
Additionally, PM performance measurements should be based on project performance goals rather than annual goals. The annual cycle is meaningless in the project world.
I do agree with Kiron and Sergio.
I see two sides of this, although there could be some overlap:
1) What does a PM do that the company values?
2) What goals does the PM have?
If you were to make a list based on answers to the above questions, would you be able to establish a baseline and measure performance / improvement / achievement for the items listed?
Their is lot of metrics can be used to measure Project manager Performance :
1- His Projects Margin
2-His Projects Schedule
3-Project Opportunities that he transferred to bookings
4-His Projects Account receivables status (Invoicing Collection and Unbilled)
5-His Estimate to complete (ETC) cost monthly projection accuracy
6-Customer Feedback about his performance
I was never evaluated or my bonus tied to a project being in red or over budget. Never tied to a project delivery. As some peers motioned usually are tie to how we contribute to deliver and support the company goals and how we manage the projects, the stakeholders, without bear in mind the result...
If company goals include successful project delivery how can one not tie in PM performance reviews to project performance. Additionally "how one manages a project" has a direct impact on project performance. Thusly, if you are being judged on contribution to corporate goals and how you manage are you not then being evaluated on project performance?
one such metric can stakeholder satisfaction survey
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