Week 3 – Measuring project progression is often
Week 3:
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Measuring project progression is often done through Key Performance Indicators (KPIs) because the items measured are often the tasks that are completed. Kerzner (2022) says that in an earned-value measurement system, KPIs are essential because they focus on future outcomes and provide more accurate information on what can happen if existing trends continue. Kerzner continues explaining the differences between metrics and KPIs, of which there are five types (section 15.5):
1. Basic project management (PM 1.0)
2. Business-driven project management (PM 2.0)
3. Value-driven project management (PM 3.0)
4. Specialized project management (PM 4.0)
5. Strategic project management (PM 5.0)
Review the discussion of Metrics (15.3) and KPIs (15.5).
· Where are metrics and KPIs more appropriate to use in managing a project?
· What is one way that metrics and KPIs are similar? What is one way they are different?
· What is one technique that can be used to determine which metrics to use? What is one technique that can be used to determine what KPI values should be used?
Give an example from your research or personal experience where a project used metrics and KPIs. This can be a successful or unsuccessful project.
Some metric examples: throughput performance time at the local drive-thru, airline flight on-time arrival percentage, number of new car defects in the first 30 days (JD Power measures it).
Reference
Kerzner, H. (2022). Project management: A systems approach to planning, scheduling, and controlling (13th ed.). Wiley & Sons.
Answer:
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