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Project Management Metrics, KPIs, and Dashboards: A Guide to Measuring and Monitoring Project Performance, 2nd Edition

ISBN: 978-1-118-52466-4
448 pages
August 2013
Project Management Metrics, KPIs, and Dashboards: A Guide to Measuring and Monitoring Project Performance, 2nd Edition (1118524667) cover image

The new edition of Harold Kerzner's bestselling book on measuring project management performance

With today's complex projects, increased stakeholder involvement, and advances in computer technology, metrics and key performance indicators (KPIs) have become increasingly integral to informed decision-making and effective project management.

Project Management Metrics, KPIs, and Dashboards, Second Edition helps functional managers gain a thorough grasp of what metrics and KPIs are and how to use them, as well as an understanding of different dashboard types, design issues, and applications. Closely aligned with PMI's PMBOK® Guide, this new edition features:

  • New content on topics ranging from customer relations management and project oversight to agile and SCRUM metrics, as well as metrics, pitfalls, and myths
  • An emphasis on value, including an in-depth discussion of value-driven metrics and value-driven KPIs
  • Full-color screen shots showing dashboards from some of the most successful project management companies
  • PowerPoint slides and a test bank for use in seminar presentations and courses

This book allows functional managers to bolster their awareness of what good metrics management really entails today—and be armed with the knowledge to measure performance more effectively.

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PREFACE vii

1 THE CHANGING LANDSCAPE OF PROJECT MANAGEMENT 1

CHAPTER OVERVIEW: 1

CHAPTER OBJECTIVES: 1

KEYWORDS: 1

1.0 INTRODUCTION 1

1.1 EXECUTIVE VIEW OF PROJECT MANAGEMENT 2

1.2 COMPLEX PROJECTS 4

1.3 GLOBAL PROJECT MANAGEMENT 12

1.4 PROJECT MANAGEMENT METHODOLOGIES AND FRAMEWORKS 13

1.5 THE NEED FOR EFFECTIVE GOVERNANCE 19

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 32

1.12 PROJECT MANAGEMENT BENCHMARKING AND METRICS 36

1.13 CONCLUSIONS 42

2 THE DRIVING FORCES FOR BETTER METRICS 43

CHAPTER OVERVIEW: 43

CHAPTER OBJECTIVES: 43

KEYWORDS: 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 63

2.5 MANAGING DISTRESSED PROJECTS 68

3 METRICS 81

CHAPTER OVERVIEW: 81

CHAPTER OBJECTIVES: 81

KEYWORDS: 81

3.0 INTRODUCTION 81

3.1 PROJECT MANAGEMENT METRICS: THE EARLY YEARS 82

3.2 PROJECT MANAGEMENT METRICS: CURRENT VIEW 85

3.3 METRICS MANAGEMENT MYTHS 86

3.4 SELLING EXECUTIVES ON A METRICS MANAGEMENT PROGRAM 87

3.5 UNDERSTANDING METRICS 88

3.6 CAUSES FOR LACK OF SUPPORT FOR METRICS MANAGEMENT 92

3.7 USING METRICS IN EMPLOYEE PERFORMANCE REVIEWS 93

3.8 CHARACTERISTICS OF A METRIC 93

3.9 METRIC CATEGORIES AND TYPES 95

3.10 SELECTING THE METRICS 98

3.11 SELECTING A METRIC/KPI OWNER 101

3.12 METRICS AND INFORMATION SYSTEMS 102

3.13 CRITICAL SUCCESS FACTORS 102

3.14 METRICS AND THE PMO 105

3.15 METRICS AND PROJECT OVERSIGHT/ GOVERNANCE 108

3.16 METRIC TRAPS 109

3.17 PROMOTING THE METRICS 109

3.18 CHURCHILL DOWNS INCORPORATED’S PROJECT PERFORMANCE MEASUREMENT APPROACHES 110

4 KEY PERFORMANCE INDICATORS 117

CHAPTER OVERVIEW: 117

CHAPTER OBJECTIVES: 117

KEYWORDS: 117

4.0 INTRODUCTION 117

4.1 THE NEED FOR KPIs 118

4.2 USING THE KPIs 122

4.3 THE ANATOMY OF A KPI 123

4.4 KPI CHARACTERISTICS 124

4.5 CATEGORIES OF KPIs 132

4.6 KPI SELECTION 133

4.7 KPI MEASUREMENT 138

4.8 KPI INTERDEPENDENCIES 141

4.9 KPIs AND TRAINING 142

4.10 KPI TARGETS 143

4.11 KPI FAILURES 146

4.12 KPIs AND INTELLECTUAL CAPITAL 147

4.13 KPI BAD HABITS 150

4.14 BRIGHTPOINT CONSULTING, INC.— DASHBOARD DESIGN: KEY PERFORMANCE INDICATORS AND METRICS 156

5 VALUE-BASED PROJECT MANAGEMENT METRICS 165

CHAPTER OVERVIEW: 165

CHAPTER OBJECTIVES: 165

KEYWORDS: 165

5.0 INTRODUCTION 165

5.1 VALUE OVER THE YEARS 167

5.2 VALUES AND LEADERSHIP 168

5.3 COMBINING SUCCESS AND VALUE 171

5.4 RECOGNIZING THE NEED FOR VALUE METRICS 175

5.5 THE NEED FOR EFFECTIVE MEASUREMENT TECHNIQUES 178

5.6 CUSTOMER/STAKEHOLDER IMPACT ON VALUE METRICS 183

5.7 CUSTOMER VALUE MANAGEMENT (CVM) 184

5.8 THE RELATIONSHIP BETWEEN PROJECT MANAGEMENT AND VALUE 189

5.9 BACKGROUND TO METRICS 194

5.10 SELECTING THE RIGHT METRICS 200

5.11 THE FAILURE OF TRADITIONAL METRICS AND KPIs 204

5.12 THE NEED FOR VALUE METRICS 204

5.13 CREATING A VALUE METRIC 205

5.14 PRESENTING THE VALUE METRIC IN A DASHBOARD 213

5.15 INDUSTRY EXAMPLES OF VALUE METRICS 213

5.16 USE OF CRISIS DASHBOARDS FOR OUT-OF-RANGE VALUE ATTRIBUTES 219

5.17 ESTABLISHING A METRICS MANAGEMENT PROGRAM 220

5.18 USING VALUE METRICS FOR FORECASTING 222

5.19 METRICS AND JOB DESCRIPTIONS 224

5.20 GRAPHICAL REPRESENTATION OF METRICS 224

5.21 CREATING A PROJECT VALUE BASELINE 237

6 DASHBOARDS 245

CHAPTER OVERVIEW: 245

CHAPTER OBJECTIVES: 245

KEYWORDS: 245

6.0 INTRODUCTION 245

6.1 TRAFFIC LIGHT DASHBOARD REPORTING 249

6.2 DASHBOARDS AND SCORECARDS 251

6.3 BENEFITS OF DASHBOARDS 254

6.4 RULES FOR DASHBOARDS 255

6.5 BITWORK, INC.: TEN QUESTIONS TO ASK BEFORE IMPLEMENTING A DASHBOARD OR REPORTING

SYSTEM 255

6.6 BRIGHTPOINT CONSULTING, INC.: DESIGNING EXECUTIVE DASHBOARDS 259

6.7 ALL THAT GLITTERS IS NOT GOLD 268

6.8 USING EMOTICONS 290

6.9 AGILE AND SCRUM METRICS 291

6.10 MASHUP DASHBOARDS 292

6.11 DASHBOARD DESIGN TIPS 294

6.12 PURESHARE, INC. 296

6.13 LOGIXML, INC.: DASHBOARD BEST PRACTICES 317

6.14 A SIMPLE TEMPLATE 328

6.15 SUMMARY OF DASHBOARD DESIGN REQUIREMENTS 328

6.16 DASHBOARD LIMITATIONS 335

6.17 THE DASHBOARD PILOT RUN 338

6.18 EVALUATING DASHBOARD VENDORS 339

6.19 NEW DASHBOARD APPLICATIONS 341

7 DASHBOARD APPLICATIONS 343

CHAPTER OVERVIEW: 343

CHAPTER OBJECTIVES: 343

KEYWORDS: 343

7.0 INTRODUCTION 343

7.1 DASHBOARDS IN ACTION: VENTYX, AN ABB COMPANY 343

7.2 DASHBOARDS IN ACTION: JOHNSON CONTROLS, INC. 344

7.3 DASHBOARDS IN ACTION: COMPUTER ASSOCIATES, INC. 350

7.4 DASHBOARDS IN ACTION: PIEMATRIX, INC. 362

7.5 PIEMATRIX OVERVIEW 362

7.6 DASHBOARDS IN ACTION: INTERNATIONAL INSTITUTE FOR LEARNING 393

7.7 DASHBOARDS IN ACTION: WESTFIELD INSURANCE 396

7.8 DASHBOARDS IN ACTION: MAHINDRA SATYAM 398

8 MEASUREMENT-DRIVEN PROJECT MANAGEMENT 403

8.0 INTRODUCTION 403

8.1 MEASUREMENT CONCEPTS 404

8.2 DEFINITIONS 406

8.3 MEASUREMENT PROCESS 409

8.4 ADDITIONAL INFORMATION ON MEASUREMENT CATEGORIES 428

8.5 FINAL COMMENTS 429

INDEX 431

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HAROLD KERZNER, Ph.D., is Senior Executive Director for Project Management at the International Institute for Learning, Inc. (IIL), a global learning solutions company offering professional training and consulting services worldwide. Dr. Kerzner's profound effect on the project management industry inspired IIL to establish, in coordination with PMI, the Kerzner International Project Manager of the Year Award, which is presented to a distinguished PMP® or global equivalent each year.

INTERNATIONAL INSTITUTE FOR LEARNING, INC. (IIL) is a global leader in professional training and comprehensive consulting services in the areas of project, program, and portfolio management, PRINCE2®, ITIL, Business Analysis, Microsoft® Office Project and Project Server, and Lean Six Sigma. IIL is an IIBA-endorsed education provider, a PMI® charter global registered education provider, and a member of PMI's Silver Alliance Circle and their Corporate Council.

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