The best metrics can provide a window into tomorrow, anticipating both successes and failures. By having an accurate picture of what has happened in the past, the PMO should be able to answer questions regarding projects in the pipeline. With the proper hindsight comes the proper guidance into the future.
The Questions You Want Answered
We want every project to prosper and thrive, but unfortunately, it doesn’t always happen. Before any resources are allocated, wouldn’t it be nice to know exactly what you will need – and when you will need it? What if you knew potential risks and bottlenecks before the project even started?
You want to know:
The right metrics serve as your crystal ball into the future.
The Metrics that Lead the Way
Your metrics should warn you of failure just as much as they show you progress. If your metrics don’t highlight past mistakes and provide insight on how to fix them, then you aren’t using the right ones for your project – or your portfolio.
To figure out which metrics your project needs, define the critical success factors for your project. What are the priorities (e.g., time, budget, or customer satisfaction)? What are the potential challenges (e.g., scope creep, resource limitations, managing quality, etc.)? If you can determine those crucial factors, then you will be able to set your metrics.
Your metrics should answer the following questions:
Project schedule: What is the schedule variance – how many tasks are late? What is schedule performance – planned versus actual dates? Does the overall reported progress line up with the percentage completed for each phase?
Project schedule: What is the schedule variance – how many tasks are late? What is schedule performance – planned versus actual dates? Does the overall reported progress line up with the percentage completed for each phase?
Quality of deliverables: What are the test metrics compared to previously successful or unsuccessful projects? What is the total number of defects? How long does it take to close defects? How many defects are reopened? What is the total number of change requests or enhancements and how many are open/completed/on-hold?
Benefits realization: Are the anticipated benefits going to be realized? Is the project on track to deliver increased productivity, decreased revenue, or enhanced customer satisfaction?
The Crystal Ball, Simplified
Many PMOs place a heavy focus on processes, governance, and control. PMOs also need to be looking at performance measures that can assist the organization in strategically aligning projects to business goals down the road.
Our Hammerhead solutions allow users to integrate intuitive dashboards and reporting into Microsoft Project Online or Project Server. Hammerhead can tailor and filter information based on the decision maker’s role and scope of control. Pre-built dashboards highlight best-in-practice performance measures for the insight PMOs want and need.
With simplified, visually-pleasing dashboards and flexible reporting, the PMO will be able to more successfully predict project outcomes. The PMO will offer decision makers valuable data that they can then use to allocate resources and investment dollars on current projects and ones yet to be started. And most importantly, risks will be out in the open, as known entities – instead of lurking behind closed project doors.
Projility provides expert solutions for effective change. We offer enterprise portfolio and project management solutions based on Microsoft Project Server and Project Online, with tailored dashboard reporting, analytics, and decision-making tools via our Hammerhead technology. Projility also implements professional services automation systems established on Microsoft Dynamics CRM Project Service, and presents cloud-based strategies, migrations, and hosting solutions through Microsoft Azure. Contact us for more information.
