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Topics: Benefits Realization, Requirements Management
Are KPIs necessary for all projects?
We are doing a project for installation of CCTV. I understand that there will be KPIs from the iron triangle. What other KPIs can we possibly have?
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The key KPIs have to be aligned with quality, understanding quality from the point of view the entity (companies, business unit, people, etc) will get what they need and it is able to use in the expected time do not loose the opportunity they intend to achieve with the solution that the initiative is creating. So, forgot the iron triangle and focus on quality as a mean to deliver value, where value is not about money only.
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1 reply by Khawaja Saif ur Rehman
Jun 07, 2021 6:58 AM
Khawaja Saif ur Rehman
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Thank you Sergio for always sharing new view points.
Jun 07, 2021 5:57 AM
Replying to Sergio Luis Conte
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The key KPIs have to be aligned with quality, understanding quality from the point of view the entity (companies, business unit, people, etc) will get what they need and it is able to use in the expected time do not loose the opportunity they intend to achieve with the solution that the initiative is creating. So, forgot the iron triangle and focus on quality as a mean to deliver value, where value is not about money only.
Thank you Sergio for always sharing new view points.
Khawaja -

KPIs are going to be driven by what is important to you stakeholders for a given project. In general, scope/schedule/cost/quality KPIs will be needed but there might be others - for example, an assessment of stakeholder satisfaction, or what ROI was achieved by doing the project.

Kiron
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1 reply by Khawaja Saif ur Rehman
Jun 07, 2021 8:52 AM
Khawaja Saif ur Rehman
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Thank you Kiron for your input.
An audit led to recommendation of installation of cameras and this is being treated as a project. So I am thinking what will be the KPIs of such a project.
Jun 07, 2021 8:10 AM
Replying to Kiron Bondale
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Khawaja -

KPIs are going to be driven by what is important to you stakeholders for a given project. In general, scope/schedule/cost/quality KPIs will be needed but there might be others - for example, an assessment of stakeholder satisfaction, or what ROI was achieved by doing the project.

Kiron
Thank you Kiron for your input.
An audit led to recommendation of installation of cameras and this is being treated as a project. So I am thinking what will be the KPIs of such a project.
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1 reply by Kiron Bondale
Jun 07, 2021 12:00 PM
Kiron Bondale
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There was likely a reason why the audit asked for that installation - potential to offset losses from theft? If so, then a KPI would be the project's return based on the one-time and ongoing costs compared to the reduction in losses due to theft...

Kiron
Dear Khawaja,
I believe to be successful in businesses, the strategic approach should base on sustainable business. Ensure sustainability means maximize the value delivered to your clients by creating exciters customer, became us on more strategic supplier than tactical.
The iron triangle focuses more on tactical objectives, so anyone can do the job. However, to create innovative solutions driven by outcomes optimization requires measuring whether our solutions lead value to our clients. Following this sense, it designs lagging indexes to measure outcomes related to the needs of your clients, such as:
? How to improve the original design to reduce cost as CAPEX as OPEX (alternatives proposals),
? how to reduce the time of installations,
? decisions and actions to overcome obstacles and conflicts, enhancing collaboration relationship leading to reduce deviations.
? Also, client satisfaction indexes to measure whether outcomes comply or exceed the expectations of our clients.
Jun 07, 2021 8:52 AM
Replying to Khawaja Saif ur Rehman
...
Thank you Kiron for your input.
An audit led to recommendation of installation of cameras and this is being treated as a project. So I am thinking what will be the KPIs of such a project.
There was likely a reason why the audit asked for that installation - potential to offset losses from theft? If so, then a KPI would be the project's return based on the one-time and ongoing costs compared to the reduction in losses due to theft...

Kiron
If you manage a team, there’s a good chance to obtain benefit of key performance indicators. KPI helps you understand how the project is performing and leads you to make the best decisions.
Choose measures that directly contribute to each of your objectives, that may be, for example, time efficiency in installation, percentage of defects, client satisfaction. A good idea is to assign responsibility for each KPI to specific individuals.
Performance indicators are similar to an instrument cluster in a vehicle. They provide those controlling the vehicle the right information to make the choices to achieve a desired outcome, like maintain the speed limit or don't run out of gas.

When Sergio refers to using quality as a means to deliver value, "quality" can take many forms. It's about what differentiates a good outcome from a poor one in the eyes of your key stakeholders.

For a CCTV system, there can be various qualities that are important based on the product function and business objectives For an optical system, product performance like area coverage, resolution, and storage capacity might steer product planning decisions, although that typically falls under the domain of a BA, or some technical principal.

Business objectives might include installing the system with the least disruption to the ongoing business, vendor considerations like reliability or commitment to diversity. In addition to time, cost, and quality (conformance to specifications), what else is important to your stakeholders?

If you search "beyond the iron triangle" you can find some specific examples of exactly that.
I think they're quite essential in quality project delivery
In order to understand if your project progresses and if there is anything to be solved to achieve your results you need to follow up on a few metrics.
KPIs are just a way to review progress, identify risks/issues, define corrective action and basically stay on track with what you want to achieve. So yes, in any project you will have KPIs.
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