TOP 25 PMO METRICS. Measuring Project Success Using Business KPIs. Delivering a project “on-time and on-budget” is no longer an adequate measure of project success.
In today’s environment, the key question should be: “Did the project deliver value to the business?” For example, a project could be delivered on time and on budget, but does not guarantee: Benefits outlined in business case were achievedUser adoptionExpected ROI was achievedA satisfied customerThe solution addresses the customer needSales were in line with forecastsThere will be market demand for the product. Project Management KPIs. PMO Metrics For Dashboard. One Page Plan for PMO Metrics. Share it now!
Metrics For A Project Management Dashboard. PMO Program Health Check Spreadsheet. Share it now!
The quality of any project or programme is usually based on the quality of the questions asked at each stage of the program lifecycle. What are PMO KPIs? Best Practice Needed. One Page Plan For Successful Stakeholder Management. Share it now!
Stakeholders can be defined as any person or group of people who have an interest in, or will be affected by, any planned changes in an organisation. Stakeholder management for a project can include stakeholders internal or external to the organisation including IT staff, leaders, business partners, users and external vendors. Here is a one page overview for stakeholder management. Stakeholder engagement is a process by which an organisation learns about the perceptions, issues and expectations of its stakeholders, and uses these views to help in managing, supporting and influencing any planned changes or improvements in service delivery.
Change Your Future Now. P3M3® Home. Gartner PPM Maturity Model. Gartner’s February 2008 report “PMOs: One Size Does Not Fit All” found that there are very high rates of failure when setting up a PMO.
Success or failure depends largely upon two aspects: How closely the PMO’s mission and objectives are linked to the real needs of the organization, andHow well the role of the PMO is matched to the maturity of the organization. As Project Partners has written in prior whitepapers and presentations (See Return on Investment – Building the Business Case for Project Portfolio Management and Return on Investment – Building the Business Case for Professional Services Automation), you should not attempt to become a Level 5 organization immediately – you need to evolve. Benchmarking your organization’s maturity PMOs: One Size Does Not Fit All Feb 2008, Gartner Inc. Www.deltek.com/~/media/pdf/product sheets/miscellaneous/deltek_2min_expert_series_billability.ashx.
Is project forecasting done by liars and fools? - Projectation. Apparently this is the case according to Professor Bent Flyvbjerg, of the BT Centre for Major Programme Management, Saїd Business School, University of Oxford.
I was originally directed to this inflammatory statement from a post by Elizabeth Harrin on her popular PM blog “A Girl’s Guide to Project Management” which lead me to do a search for the article in questions. It can be found here and the title of the article is “Quality control and due diligence in project management: Getting decisions right by taking the outside view” published by the International Journal of Project Management, which is a pretty somber title in light of the provocative statement by the distinguished professor.
A good summary can be found on Saїd Business School website, and quoting directly from the site: I gotta say I like how direct he is and has no compunction for calling a spade a spade. Rate This! Is project forecasting done by liars and fools? Responsibilities of a project management office (PMO) In most organisations the PMO has five main responsibilities: Set standards for how projects are run The PMO builds up a common set of practices, principles and templates for managing projects. Standardisation means project managers can move more easily between different projects and new project managers get up to speed faster. Enverian Developer. Project Selection Criteria Using ROI, NPV, IRR and Risk.
Developing project selection criteria that rely on a defensible business case and solid Return on Investment (ROI) is fundamental to effective IT governance and project portfolio management (PPM).
That means a business case and ROI for every project under consideration developed using a standard ROI calculator using Net Present Value (NPV) and Internal Rate of Return (IRR). An earlier post provided a range of methods for evaluating IT investments using objective project ranking criteria. That post was followed up with an ROI calculator template that uses NPV, IRR and Payback Period to build the financial justification of the business case.
Calculate Project ROI using NPV, IRR and Packback period. Calculating ROI for a project/task should consider both tangible and intangible benefits.
Steps: Understand Benefits (Documented in the business case) - Review the business case to understand the project and the benefits it is expected to deliver. - Identify tangible and intangible benefits (Work with the project owner and convert intangible benefits to tangible factors). All most all intangible benefits can be converted to tangible factors with clear understanding of the benefit. Example: Benefits like increasing employee morale (intangible) can be converted to be tangible as follows: Increase employee morale can increase employee retention, which can save new employee recruiting and training costs. Based on the employee turnover last year, HR dept can provide tangible figures like “Reduce Employee turnover by 5% and save $5000 in new recruiting costs. What is discount cash flow?