Enables readers to easily understand and implement essential strategies on measuring project management performance
Project Management Metrics, KPIs, and Dashboards provides complete coverage of what metrics and KPIs are and how to use them effectively, offering comprehensive coverage of the different dashboard types, design issues, and applications that readers may come across during practical application of the concepts. To aid in seamless reader comprehension, the work includes full-color dashboards from some of the most successful project management companies. As a modern resource, the work aligns with PMI’s PMBOK® Guide and stresses value-driven project management.
Written by the leading authority in the field, sample topics covered in the work are as follows: - Stakeholder relations management, effective metric measurements, selecting the right project metrics, innovation metrics, and how to become and stay agile - Comparing traditional and nontraditional projects, defining complexity, decision making, fluid methodologies, global project management, and project management methodologies/frameworks - Customer relations management, a new look at defining project success, and why customer satisfaction must always be considered - Scope creep, scope creep dependencies, causes of scope creep, the business side of scope creep, and ways to minimize scope creep
For project managers across all industries, Project Management Metrics, KPIs, and Dashboards is a valuable resource on the subject that will bolster your awareness of what good metrics management really entails and arm you with the important knowledge needed to measure and communicate performance more effectively.
Table of Contents
PREFACE ix
ABOUT THE COMPANION WEBSITE xiii
1 THE CHANGING LANDSCAPE OF PROJECT MANAGEMENT 1
CHAPTER OVERVIEW 1
1.0 INTRODUCTION 1
1.1 EXECUTIVE VIEW OF PROJECT MANAGEMENT 2
1.2 COMPLEX PROJECTS 5
1.3 GLOBAL PROJECT MANAGEMENT 12
1.4 PROJECT MANAGEMENT METHODOLOGIES AND FRAMEWORKS 14
1.5 THE NEED FOR EFFECTIVE GOVERNANCE 20
1.6 ENGAGEMENT PROJECT MANAGEMENT 20
1.7 CUSTOMER RELATIONS MANAGEMENT 22
1.8 OTHER DEVELOPMENTS IN PROJECT MANAGEMENT 23
1.9 A NEW LOOK AT DEFINING PROJECT SUCCESS 24
1.10 THE GROWTH OF PAPERLESS PROJECT MANAGEMENT 30
1.11 PROJECT MANAGEMENT MATURITY AND METRICS 31
1.12 PROJECT MANAGEMENT BENCHMARKING AND METRICS 35
1.13 CONCLUSIONS 41
2 THE DRIVING FORCES FOR BETTER METRICS 43
CHAPTER OVERVIEW 43
2.0 INTRODUCTION 43
2.1 STAKEHOLDER RELATIONS MANAGEMENT 44
2.2 PROJECT AUDITS AND THE PMO 55
2.3 INTRODUCTION TO SCOPE CREEP 56
2.4 PROJECT HEALTH CHECKS 64
2.5 MANAGING DISTRESSED PROJECTS 69
3 METRICS 83
CHAPTER OVERVIEW 83
3.0 INTRODUCTION 83
3.1 PROJECT MANAGEMENT METRICS: THE EARLY YEARS 84
3.2 PROJECT MANAGEMENT METRICS: CURRENT VIEW 87
3.3 METRICS MANAGEMENT MYTHS 88
3.4 SELLING EXECUTIVES ON A METRICS MANAGEMENT PROGRAM 89
3.5 UNDERSTANDING METRICS 91
3.6 CAUSES FOR LACK OF SUPPORT FOR METRICS MANAGEMENT 95
3.7 USING METRICS IN EMPLOYEE PERFORMANCE REVIEWS 96
3.8 CHARACTERISTICS OF A METRIC 97
3.9 METRIC CATEGORIES AND TYPES 99
3.10 SELECTING THE METRICS 101
3.11 SELECTING A METRIC/KPI OWNER 105
3.12 METRICS AND INFORMATION SYSTEMS 106
3.13 CRITICAL SUCCESS FACTORS 106
3.14 METRICS AND THE PMO 109
3.15 METRICS AND PROJECT OVERSIGHT/GOVERNANCE 112
3.16 METRICS TRAPS 113
3.17 PROMOTING THE METRICS 114
3.18 CHURCHILL DOWNS INCORPORATED’S PROJECT PERFORMANCE MEASUREMENT APPROACHES 114
4 KEY PERFORMANCE INDICATORS 121
CHAPTER OVERVIEW 121
4.0 INTRODUCTION 121
4.1 THE NEED FOR KPIS 122
4.2 USING THE KPIS 126
4.3 THE ANATOMY OF A KPI 128
4.4 KPI CHARACTERISTICS 129
4.5 CATEGORIES OF KPIS 133
4.6 KPI SELECTION 134
4.7 KPI MEASUREMENT 140
4.8 KPI INTERDEPENDENCIES 142
4.9 KPIS AND TRAINING 144
4.10 KPI TARGETS 145
4.11 UNDERSTANDING STRETCH TARGETS 148
4.12 KPI FAILURES 149
4.13 KPIS AND INTELLECTUAL CAPITAL 151
4.14 KPI BAD HABITS 154
4.15 BRIGHTPOINT CONSULTING, INC.--DASHBOARD DESIGN: KEY PERFORMANCE INDICATORS AND METRICS 159
5 VALUE-BASED PROJECT MANAGEMENT METRICS 169
CHAPTER OVERVIEW 169
5.0 INTRODUCTION 169
5.1 VALUE OVER THE YEARS 171
5.2 VALUES AND LEADERSHIP 172
5.3 COMBINING SUCCESS AND VALUE 175
5.4 RECOGNIZING THE NEED FOR VALUE METRICS 178
5.5 THE NEED FOR EFFECTIVE MEASUREMENT TECHNIQUES 181
5.6 CUSTOMER/STAKEHOLDER IMPACT ON VALUE METRICS 187
5.7 CUSTOMER VALUE MANAGEMENT 188
5.8 THE RELATIONSHIP BETWEEN PROJECT MANAGEMENT AND VALUE 193
5.9 BACKGROUND OF METRICS 197
5.10 SELECTING THE RIGHT METRICS 204
5.11 THE FAILURE OF TRADITIONAL METRICS AND KPIS 207
5.12 THE NEED FOR VALUE METRICS 207
5.13 CREATING A VALUE METRIC 208
5.14 PRESENTING THE VALUE METRIC IN A DASHBOARD 215
5.15 INDUSTRY EXAMPLES OF VALUE METRICS 216
5.16 USE OF CRISIS DASHBOARDS FOR OUT-OFRANGE VALUE ATTRIBUTES 222
5.17 ESTABLISHING A METRICS MANAGEMENT PROGRAM 223
5.18 USING VALUE METRICS FOR FORECASTING 225
5.19 METRICS AND JOB DESCRIPTIONS 226
5.20 GRAPHICAL REPRESENTATION OF METRICS 227
5.21 CREATING A PROJECT VALUE BASELINE 239
6 DASHBOARDS 247
CHAPTER OVERVIEW 247
6.0 INTRODUCTION 247
6.1 DOES EVERYONE KNOW WHAT A DASHBOARD REALLY IS? 252
6.2 HOW WE PROCESS DASHBOARD INFORMATION 256
6.3 DASHBOARD CORE ATTRIBUTES 256
6.4 THE MEANING OF INFORMATION 257
6.5 TRAFFIC LIGHT DASHBOARD REPORTING 259
6.6 DASHBOARDS AND SCORECARDS 261
6.7 CREATING A DASHBOARD IS A LOT LIKE ONLINE DATING 264
6.8 BENEFITS OF DASHBOARDS 266
6.9 IS YOUR BI TOOL FLEXIBLE ENOUGH? 267
6.10 FOUR EASY STEPS TO IMPLEMENTING A SUCCESSFUL BUSINESS INTELLIGENCE SOLUTION 270
6.11 RULES FOR DASHBOARDS 275
6.12 THE SEVEN DEADLY SINS OF DASHBOARD DESIGN AND WHY THEY SHOULD BE AVOIDED 275
6.13 BRIGHTPOINT CONSULTING, INC.: DESIGNING EXECUTIVE DASHBOARDS 278
6.14 ALL THAT GLITTERS IS NOT GOLD 287
6.15 USING EMOTICONS 310
6.16 MISLEADING INDICATORS 311
6.17 AGILE AND SCRUM METRICS 313
6.18 DATA WAREHOUSES 333
6.20 TEAMQUEST CORPORATION 340
6.21 A SIMPLE TEMPLATE 360
6.22 SUMMARY OF DASHBOARD DESIGN REQUIREMENTS 360
6.23 DASHBOARD LIMITATIONS 367
6.24 THE DASHBOARD PILOT RUN 370
6.25 EVALUATING DASHBOARD VENDORS 371
6.26 NEW DASHBOARD APPLICATIONS 372
7 DASHBOARD APPLICATIONS 375
CHAPTER OVERVIEW 375
7.0 INTRODUCTION 375
7.1 DASHBOARDS IN ACTION: DUNDAS DATA VISUALIZATION 376
7.2 DASHBOARDS IN ACTION: PIE 376
7.3 PIE OVERVIEW 388
7.4 DASHBOARDS IN ACTION: INTERNATIONAL INSTITUTE FOR LEARNING 403
8 THE PORTFOLIO MANAGEMENT PMO AND METRICS 407
CHAPTER OVERVIEW 407
8.0 INTRODUCTION 407
8.1 CRITICAL QUESTIONS 408
8.2 VALUE CATEGORIES 408
8.3 PORTFOLIO METRICS 410
8.4 MEASUREMENT TECHNIQUES AND METRICS 411
8.5 THE GROWTH OF PORTFOLIO METRICS 413
8.6 METRICS FOR MEASURING INTANGIBLES 415
8.7 THE NEED FOR STRATEGIC METRICS 418
8.8 CRISIS DASHBOARDS 421
INDEX 425
