It is also relevant to measure the effectiveness of the teams’ work on a project, in particular:
- Resource capacity, which estimates whether the number of employees invested in the project is sufficient to complete it.
- The deliverable success rate which indicates the proportion of deliverables completed in accordance with the specifications and delivered on time.
- Employee turnover rate is used to determine the number of employees who decide to leave a project during its implementation. This allows the project manager to identify any unrest within the team and improve working conditions.
Summary table of the main KPIs
Steps to choosing your KPIs
How to choose the right KPIs throughout time gives us a good look into the history of facebook’s timeline a project lifecycle ? Select your key performance indicators by following these steps:
- Identify project needs : What KPIs should be tracked based on the project’s needs and objectives? What criteria would help assess the project’s success? What data can influence this success?
- Take stock of available data : what data do you have available that can be used and tracked?
- Involve employees in the thinking process : ask them, in the project, which KPIs would be interesting to measure and for what reasons.
The 4 P framework for structuring your project management KPIs
The 4P method comes from the field b2b companies where tupiniquim does digital marketing of marketing. Originally, it refers to the terms Progress, Performance, Process, and Promotion. Applied to project management, the 4P method refers to other terms:
- People ;
- Process ;
- Plan ;
- Power.
This method can be used by PMOs to determine the KPIs to track according to each P:
Track, analyze and visualize KPIs: tools and dashboards
There are many tools for tracking KPIs . Ideally, you should have a dashboard that centralizes data and allows you to visualize and analyze it. It’s possible to generate dashboards using project management tools. These often offer customizable templates, but you can also start from scratch.