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Project Management Metrics and its Benefits
Project Management Metrics and its Benefits

October 31, 2022

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What are Project Management metrics?

Project management metrics are the vital measures that helps evaluate a project’s performance. A project manager should be able to track their team’s progress and guide their efforts toward achieving the high-priority goals, projects, and plans.

To evaluate project management practices, project management metrics can be used to strategically meet a business goal or to gauge the success or failure of a project. Applicable project management metrics to a project help establish an understanding by removing uncertainties, in turn helping to make an informed decision.

Among the many benefits of using project management metrics, some are listed below:

  1. Tracks progress

Project performance metrics ensure that project progress runs smoothly from the initial stages to completion

  1. Measures performance

Project performance metrics helps in comparing actual and planned performance, also helps gauge how well the team performed based on expectations

  1. Allows seamless changes

It gets difficult to include changes in any project if it is already not running on schedule. Project metrics help gauge the progress of a project and thereby help in deciding if it can handle changes seamlessly

  1. Boosts Productivity

Project management metric reviews the capabilities of an organization, like how well it uses its resources including employees, hardware and finances. Productivity shows the correlation between input and output with the goal of producing more for less

  1. Identifies Constraints

Project performance metrics help highlight project constraints and limits that can hinder teams from achieving their goals

How to choose Project Management metrics?

Each project requires unique project management metrics that are aligned with its objective. There are three basic steps that help in choosing metrics:

  • Understand the objective of the project
  • Determine what critical success factors need to be fulfilled for the project to succeed
  • Take each critical success factor for the project and identify how it will be measured

A project’s success and a project manager’s performance are dependent on the ability to quickly resolve any challenges or bottlenecks during a project. Project management metrics help in these situations to understand and evaluate project outcomes.

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Current Focus Areas: IT Services, AIOps, 5G, Cloud, Project Management. Also specialises in Application Rationalization, Cost Optimization, Benchmarking, Report writing, and Market Research.

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