Quick Definition:
Performance Metrics (or KPIs) are quantifiable measures used to track and assess the status of a project against its objectives. They provide objective data for decision-making and reporting.
Essential Project KPIs
- Schedule Variance (SV): Difference between planned and actual progress.
- Cost Variance (CV): Difference between budgeted and actual costs.
- Resource Utilization: Percentage of time team members spend on project tasks.
- Defect Density: Number of defects found per unit of work (e.g., per 1000 lines of code).
- Stakeholder Satisfaction: Measured through surveys or feedback sessions.
The Balanced Scorecard
Use a balanced scorecard approach to ensure you’re measuring performance across multiple dimensions, not just cost and schedule.
