Project management metrics, KPIs, and dashboards : a guide to measuring and monitoring project performance

CONTENTS
Preface
1: The Changing Landscape of Project Management
1.0 Introduction
1.1 Executive View of Project Management
1.2 Complex Projects
1.3 Global Project Management
1.4 Project Management Methodologies and Frameworks
1.5 The Need for Effective Governance
1.6 Engagement Project Management
1.7 Customer Relations Management
1.8 Other Developments in Project Management
1.9 A New Look at Defining Project Success
1.10 The Growth of Paperless Project Management
1.11 Project Management Maturity and Metrics
1.12 Project Management Benchmarking and Metrics
1.13 Conclusions
2: The Driving Forces for Better Metrics
2.0 Introduction
2.1 Stakeholder Relations Management
2.2 Project Audits and the PMO
2.3 Introduction to Scope Creep
2.4 Project Health Checks
2.5 Managing Distressed Projects
3: Metrics
3.0 Introduction
3.1 Project Management Metrics: The Early Years
3.2 Project Management Metrics: Current View
3.3 Metrics Management Myths
3.4 Selling Executives on a Metrics Management Program
3.5 Understanding Metrics
3.6 Causes for Lack of Support for Metrics Management
3.7 Using Metrics in Employee Performance Reviews
3.8 Characteristics of a Metric
3.9 Metric Categories and Types
3.10 Selecting the Metrics
3.11 Selecting a Metric/KPI Owner
3.12 Metrics and Information Systems
3.13 Critical Success Factors
3.14 Metrics and the PMO
3.15 Metrics and Project Oversight/Governance
3.16 Metrics Traps
3.17 Promoting the Metrics
3.18 Churchill Downs Incorporated’s Project Performance Measurement Approaches
4: Key Performance Indicators
4.0 Introduction
4.1 The Need for KPIs
4.2 Using the KPIs
4.3 The Anatomy of a KPI
4.4 KPI Characteristics
4.5 Categories of KPIs
4.6 KPI Selection
4.7 KPI Measurement
4.8 KPI Interdependencies
4.9 KPIs and Training
4.10 KPI Targets
4.11 Understanding Stretch Targets
4.12 KPI Failures
4.13 KPIs and Intellectual Capital
4.14 KPI Bad Habits
4.15 BrightPoint Consulting, Inc.—Dashboard Design: Key Performance Indicators and Metrics
5: Value-Based Project Management Metrics
5.0 Introduction
5.1 Value over the Years
5.2 Values and Leadership
5.3 Combining Success and Value
5.4 Recognizing the Need for Value Metrics
5.5 The Need for Effective Measurement Techniques
5.6 Customer/Stakeholder Impact on Value Metrics
5.7 Customer Value Management
5.8 The Relationship between Project Management and Value
5.9 Background of Metrics
5.10 Selecting the Right Metrics
5.11 The Failure of Traditional Metrics and KPIs
5.12 The Need for Value Metrics
5.13 Creating a Value Metric
5.14 Presenting the Value Metric in a Dashboard
5.15 Industry Examples of Value Metrics
5.16 Use of Crisis Dashboards for Out-of-Range Value Attributes
5.17 Establishing a Metrics Management Program
5.18 Using Value Metrics for Forecasting
5.19 Metrics and Job Descriptions
5.20 Graphical Representation of Metrics
5.21 Creating a Project Value Baseline
6: Dashboards
6.0 Introduction
6.1 How We Process Dashboard Information
6.2 Dashboard Core Attributes
6.3 The Meaning of Information
6.4 Traffic Light Dashboard Reporting
6.5 Dashboards and Scorecards
6.6 Creating a Dashboard Is a Lot like Online Dating
6.7 Benefits of Dashboards
6.8 Is Your BI Tool Flexible Enough?
6.9 Rules for Dashboards
6.10 The Seven Deadly Sins of Dashboard Design and Why They Should Be Avoided
6.11 BrightPoint Consulting, Inc.: Designing Executive Dashboards
6.12 All That Glitters Is Not Gold
6.13 Using Emoticons
6.14 Misleading Indicators
6.15 Agile and Scrum Metrics
6.16 Data Warehouses
6.17 Dashboard Design Tips
6.18 TeamQuest Corporation
6.19 Logi Analytics, Inc.: Dashboard Best Practices
6.20 A Simple Template
6.21 Summary of Dashboard Design Requirements
6.22 Dashboard Limitations
6.23 The Dashboard Pilot Run
6.24 Evaluating Dashboard Vendors
6.25 New Dashboard Applications
7: Dashboard Applications
7.0 Introduction
7.1 Dashboards in Action: Dundas Data Visualization
7.2 Dashboards in Action: PieMatrix, Inc.
7.3 PieMatrix Overview
7.4 Dashboards in Action: International Institute for Learning
8: The Portfolio Management PMO and Metrics
8.0 Introduction
8.1 Critical Questions
8.2 Value Categories
8.3 Portfolio Metrics
8.4 Measurement Techniques and Metrics
8.5 Crisis Dashboards
Index
EULA
LIST OF TABLES
Chapter 1
TABLE 1.1
TABLE 1.2
TABLE 1.3
TABLE 1.4
TABLE 1.5
TABLE 1.6
TABLE 1.7
Chapter 2
TABLE 2.1
TABLE 2.2
Chapter 3
TABLE 3.1
Chapter 4
TABLE 4.1
TABLE 4.2
TABLE 4.3
TABLE 4.4
Chapter 5
TABLE 5.1
TABLE 5.2
TABLE 5.3
TABLE 5.4
TABLE 5.5
TABLE 5.6
TABLE 5.7
TABLE 5.8
TABLE 5.9
TABLE 5.10
TABLE 5.11
TABLE 5.12
TABLE 5.13
TABLE 5.14
TABLE 5.15
TABLE 5.16
TABLE 5.17
TABLE 5.18
TABLE 5.19
Chapter 6
TABLE 6.1
TABLE 6.2
TABLE 6.3
TABLE 6.4
TABLE 6.5
TABLE 6.6
TABLE 6.7
TABLE 6.8
Chapter 8
TABLE 8.1
TABLE 8.2
TABLE 8.3
LIST OF ILLUSTRATIONS
Chapter 1
Figure 1.1 Generic Methodology
Figure 1.2 “Engagement” Project Management
Figure 1.3 New Developments in Project Management
Figure 1.4 From Triple to Competing Constraints
Figure 1.5 Growth of Information Systems to Support Project Management
Figure 1.6 Growth of Information Systems to Support Project Management
Figure 1.7 Project Management Maturity and Metrics
Figure 1.8 Project Management Competitiveness
Figure 1.9 Metric Risks to Maintain a Sustained Competitive Advantage
Figure 1.10 Nonsustainable Competitive Advantages
Figure 1.11 Sustainable Competitive Advantages
Chapter 2
Figure 2.1 Stakeholder Relations Management
Figure 2.2 Stakeholder Mapping
Figure 2.3 Project Boundaries
Figure 2.4 Recovery Life Cycle Phases
Figure 2.5 Changes in Relative Importance
Chapter 3
Figure 3.1 Determining Project Status
Figure 3.2 Who Controls Costs?
Figure 3.3 Selecting Metrics
Figure 3.4 Metrics Value Spectrum
Figure 3.5 Establishing the Project’s Strategy
Figure 3.6 Postmortem Pyramid
Figure 3.7 Metric Cost versus Value
Figure 3.8 Best-Practices Classification
Figure 3.9 Project Quad
Figure 3.10 Toll Gate Overview
Figure 3.11 Toll Gate 2 Checklist
Figure 3.12 Project Toll Gate Dashboard
Chapter 4
Figure 4.1 Typical Stakeholder Classification System
Figure 4.2 Metrics Are Related
Figure 4.3 A Boundary Box for a KPI Target
Figure 4.4 Mahindra Satyam Customer Delight Index
Figure 4.5 Setting Stretch Targets
Figure 4.6 Reporting BHAG Progress
Figure 4.7 The PMBOK® Guide and KPIs
Figure 4.8 Project Management Knowledge
Figure 4.9 Components of Intellectual Capital
Figure 4.10 KPI Wheel
Chapter 5
Figure 5.1 Project Management Value Conflicts
Figure 5.2 Four Cornerstones of Success
Figure 5.3 Categories of Success Metrics
Figure 5.4 Shortcomings
Figure 5.5 Quantitative versus Qualitative Assessment
Figure 5.6 Boundary Box
Figure 5.7 Growth in the Importance of Value
Figure 5.8 Simplified Product Stages of Development
Figure 5.9 Dimensions of Value
Figure 5.10 Core Components of Project Management Value
Figure 5.11 Traditional Triple Constraints
Figure 5.12 Core Project Health Metrics
Figure 5.13 Typical Steps in the Performance Metrics Process
Figure 5.14 Value Metric/KPI Boundary Box
Figure 5.15 Value Points for a Boundary Box
Figure 5.16 Project Value Attributes
Figure 5.17 Planned versus Assigned Labor
Figure 5.18 Pay Grade of the Assigned Resources
Figure 5.19 Hours Worked on Regular Time, Overtime, and Unstaffed Hours
Figure 5.20 Work Packages Scheduled for Completion, Including Those Completed and Those Still Open
Figure 5.21 Work Packages with a Critical Risk Designation
Figure 5.22 Work Packages Adhering to the Budget
Figure 5.23 Number of Baseline Revisions
Figure 5.24 Number of Scope Changes Pending, Approved, and Denied
Figure 5.25 Number of Action Items Open Each Month and How Long They Remained Open
Figure 5.26 Number of Critical Constraints Each Month
Figure 5.27 Number of Critical Assumptions That Are New or Have Been Changed
Figure 5.28 Actual versus Promised Best Practices Used
Figure 5.29 Project Complexity Factor
Figure 5.30 Project Complexity Factor Appearing in the Metric Library
Figure 5.31 Total Project Manpower
Figure 5.32 Management Reserve
Figure 5.33 Deliverables on Time or Late
Figure 5.34 Deliverables Accepted or Rejected
Figure 5.35 Cumulative Month-End CPI and SPI Data
Figure 5.36 Color-Coded Unfavorable Variances (Monthly)
Figure 5.37 Color-Coded Favorable Variances (Monthly)
Figure 5.38 Estimate at Completion
Figure 5.39 Risks Including Aging
Figure 5.40 Value-Based Resource Application Model
Figure 5.41 Value Metric Attributes
Chapter 6
Figure 6.1 The Framework for a Typical Dashboard
Figure 6.2 Dashboard Core Attributes
Figure 6.3 Traffic Light Dashboard Indicators
Figure 6.4
Figure 6.5 Typical Bar Chart
Figure 6.6 Contrasting Colors
Figure 6.7 Positioning of Icons
Figure 6.8 Area Chart
Figure 6.9 Area Chart, Stacked
Figure 6.10 Area Chart, 100% Stacked
Figure 6.11 Bar Chart, Clustered
Figure 6.12 Bar Chart, Stacked
Figure 6.13 Bar Chart, 100% Stacked
Figure 6.14 Bubble Chart
Figure 6.15 Column Chart, Clustered
Figure 6.16 Column Chart, Stacked
Figure 6.17 Column Chart, 100% Stacked
Figure 6.18 Gauges
Figure 6.19 Icons
Figure 6.20 Line Chart
Figure 6.21 Line Chart, Stacked
Figure 6.22 Line Chart, 100% Stacked
Figure 6.23 Tiered Stakeholder Identification in 3-D
Figure 6.24 Summarized Milestone Reporting
Figure 6.25 Breakdown of Labor Hours
Figure 6.26 Causes of Failure
Figure 6.27 A Square Pie Chart
Figure 6.28 A Rotated Square Pie Chart
Figure 6.29 Total Cost Breakdown per Work Package
Figure 6.30 Cost Overrun Data
Figure 6.31 Cumulative Month end CPI and SPI Data
Figure 6.32 3-D Column Chart
Figure 6.33 Possible Colors
Figure 6.34 Column Chart with Gradients
Figure 6.35 Column Chart Using Bright Colors
Figure 6.36 Column Chart Using Shading
Figure 6.37 Background Colors with Shading
Figure 6.38 Concentric Circle Charts
Figure 6.39 Radar Chart
Figure 6.40 Dashboard with Buttons for Drilling
Figure 6.41 EVMS Status Reporting
Figure 6.42 Learning Curve on a Log-Log Plot
Figure 6.43 Pointers on a Vertical Sliding Scale
Figure 6.44 Cyclical Data
Figure 6.45 Heat Map
Figure 6.46 Using Emoticons
Figure 6.47 Other Emoticons That Can Be Misinterpreted
Figure 6.48 Column Chart Showing Favorable Variances
Figure 6.49 Selecting the Right Areas for a Circle
Figure 6.50 Burn-Down Chart
Figure 6.51 User Displays to Show Context and Progress toward Targets
Figure 6.52 Using Color to Improve Communication of Key Information
Figure 6.53 Maintain Consistent Design for All Dashboards
Figure 6.54 Sample Dashboard with Grouped Metrics
Figure 6.55 How Parameters Can Be Used to Simplify Dashboard Design and Implementation and Improve Usability
Figure 6.56 Simple Alert Triggered by a Threshold
Figure 6.57 Sample TeamQuest Metrics Management Dashboard
Figure 6.58 Data-Agnostic Metric Dashboard Solution
Figure 6.59 Sample Dashboard with Grouped Metrics
Figure 6.60 How Parameters Can Be Used to Simplify Dashboard Design and Implementation, and Improve Usability
Figure 6.61 Simple Alert Triggered by a Threshold
Figure 6.62 A Modern Dashboard’s Ability to Present Data and Information at Both a Summary and Detailed Level Makes It One of the Most Powerful Tools in a Business User’s Kit
Figure 6.63 A Typical Dashboard.
Figure 6.64 For Direct Relevance to Business Activities, Business Users Must Be Able to Act on What Is Presented in a Dashboard.
Figure 6.65 Rainbow Colors and Their Perception
Figure 6.66 Simple Dashboard Icons
Figure 6.67 At-a-Glance Dashboard for Constraints
Figure 6.68 Multicolor Status Reporting
Figure 6.69 Color-Coded Variance Reporting
Chapter 7
Figure 7.1 Financial and Nonfinancial Dashboard Metrics
Figure 7.2 Overview Dashboard
Figure 7.3 Executive Dashboard
Figure 7.4 Project Support Dashboard
Figure 7.5 Business Intelligence Dashboard
Figure 7.6 IT Monitoring Dashboard
Figure 7.7 Wireless Dashboard
Figure 7.8 Hospital Performance Dashboard
Figure 7.9 Business Intelligence Dashboard
Figure 7.10 Insurance Call Centre Dashboard
Figure 7.11 Business Intelligence Dashboard
Figure 7.12 PieMatrix Portfolio Progress—Main Page
Figure 7.13 PieMatrix Portfolio Progress—One Click to Display Milestone Dates and Project Status Indicators
Figure 7.14 PieMatrix Portfolio Progress—Filtered to Only Show Risk and Issue State Projects
Figure 7.15 PieMatrix Portfolio Progress—Full Portfolio Grouped by Priority
Figure 7.16 Project Data Metrics—Custom Project Data Fields for Tracking Budgets and Other Portfolio Information
Figure 7.17 PieMatrix Portfolio Progress—Project Drill-down View Showing Process Layers
Figure 7.18 PieMatrix Portfolio Progress—Collaboration Window Displays Conversations Regarding a Project Issue
Figure 7.19 PieMatrix Portfolio Metrics—View Multiple Drill-down Options with One Click
Figure 7.20 PieMatrix To-Do List—Real-Time Dashboard Data Is Automatically Derived When Team Members Execute Steps
Figure 7.21 PieMatrix to Do—Hover Over a Step to Show the Step’s Instructions for Correct Execution
Figure 7.22 PieMatrix Project—Launch a Project and Select from Multiple Processes for Either Viewing or Execution
Figure 7.23 PieMatrix Project—Selected Plan Phase and Turned on Progress Bars and Dates for Reporting
Figure 7.24 PieMatrix Project—Selected Develop Project Charter Process Box to Show Its Steps
Figure 7.25 PieMatrix Project—Hover Over a Step to Show Its How-to Instructions (Process Standard for Execution)
Figure 7.26 PieMatrix Project Planning—Shows the Project’s Current Schedule as a Gantt Chart
Figure 7.27 PieMatrix Project Planning—Shows the Project’s Initial Plan Schedule (Baseline Snapshot) as a Gantt Chart
Figure 7.28 PieMatrix Project Planning—Displays a Comparison between Current and Baseline (Dark Blue) Schedules
Figure 7.29 PieMatrix Project Planning—Roll-up Showing Gantt Chart for the Plan Phase
Figure 7.30 PieMatrix Project—Displays Three Process Layers (or Work Streams) Ready for Viewing or Execution
Figure 7.31 PieMatrix Project—Displays Three Processes in Tandem under the Plan Phase
Figure 7.32 PieMatrix Process Authoring—Sampling of Possible Process Areas Used as Pie Template
Figure 7.33 PieMatrix Process Authoring—Sampling of Possible Process Areas Used as Pie Template
Figure 7.34 Impact upon Strategic Objectives
Figure 7.35 Projects within the Business Area
Figure 7.36 Project Origin
Figure 7.37 Project Status within the Business Area
Figure 7.38 Projects by Year of Approval
Figure 7.39 Budget for the Projects
Chapter 8
Figure 8.1 Portfolio Value Categories for Projects
Figure 8.2 High-Level Project Portfolio Status
Figure 8.3 Grouping of Projects