You can’t manage what you can’t measure. –Peter Drucker
What do measurements have to do with project monitor and control?
According to Peter Drucker, you must measure performance before you can control it.
So, what are some project performance indicators we can measure?
- Schedule Progress
- Compare schedule tasks
- Started on time
- Started late
- Completed.
- Compare schedule tasks
- Milestone Attainment
- Compare milestones completed vs. completed late
- Effort Spent
- Compare planned vs. actual work estimates
- Budget/Cost Performance
- Compare planned vs. actual cost estimates
- Requirements Stability
- Compare total number of requirements
- Number of requirements changed
- Number of requirements added
- Number of requirements deleted
- Risk
- Changes in risk status
- New risks
- Defects
- Open vs. closed defects
- Defect severity
- Issues
- Open vs. closed issues
- Resources
- Headcount current period vs. previous period
There are plenty more project performance measurements and I am sure you can add to this list. Using these measurements and others, you will be able to establish controls to keep your project deliverables on schedule and within budget.