Project management metrics, KPIs, and dashboards : a guide to measuring and monitoring project performance / Harold Kerzner.

Format:

Book

Author/Creator:

Kerzner, Harold, author.

Contributor:

ebrary, Inc.

Language:

English

Subjects (All):

Project management.

Project management--Quality control.

Performance standards.

Work measurement.

Quality control.

Physical Description:

1 online resource (ix, 436 pages)

Edition:

Second edition.

Place of Publication:

Hoboken, NJ : John Wiley and Sons, Incorporated, [2013]

System Details:

text file

Summary:

The new edition of Harold Kerzner's bestselling book on measuring project management performance, With today's complex projects, increased stakeholder involvement, and advances in computer technology, metrics and key performance indicators (KPIs) have become increasingly integral to informed decision-making and effective project management. Project Management Metrics, KPIs, and Dashboards, Second Edition helps functional managers gain a thorough grasp of what metrics and KPIs are and how to use them, as well as an understanding of different dashboard types, design issues, and applications. Closely aligned with PMI's PMBOK® Guide, this new edition features: New content on topics ranging from customer relations management and project oversight to agile and SCRUM metrics, as well as metrics, pitfalls, and myths, An emphasis on value, including an in-depth discussion of value-driven metrics and value-driven KPIs, Full-color screen shots showing dashboards from some of the most successful project management companies, PowerPoint slides and a test bank for use in seminar presentations and courses, This book allows functional managers to bolster their awareness of what good metrics management really entails today-and be armed with the knowledge to measure performance more effectively. International Institute for Learning, Inc. (IIL) is a global leader in professional training and comprehensive: consulting services in the areas of project, program', and portfolio management, PRINCE2®, ITIL, Business Analysis, Microsoft® Office Project and Project Server, and Lean Six Sigma. IIL is an IIBA-endorsed education provider, a PMI® charter global registered education provider, and a member of PMI's Silver Alliance Circle and their Corporate Council. Book jacket.

Contents:

1 The Changing Landscape of Project Management 1

Chapter Overview 1

Chapter Objectives 1

Keywords 1

1.0 Introduction 1

1.1 Executive View of Project Management 2

1.2 Complex Projects 4

Comparing Traditional and Nontraditional Projects 6

Defining Complexity 9

Tradeoffs 9

Skill Set 10

Governance 11

Decision Making 11

Fluid Methodologies 11

1.3 Global Project Management 12

1.4 Project Management Methodologies and Frameworks 13

Light Methodologies 16

Heavy Methodologies 17

Frameworks 17

1.5 The Need for Effective Governance 19

1.6 Engagement Project Management 20

1.7 Customer Relations Management 22

1.8 Other Developments in Project Management 23

1.9 A New Look at Defining Project Success 24

Success Is Measured by the Triple Constraints 25

Customer Satisfaction Must Be Considered As Well 25

Other (or Secondary) Factors Must Be Considered As Well 25

Success Must Include a Business Component 26

Prioritization of Success Constraints May Be Necessary 27

The Definition of Success Must Include a "Value" Component 28

Multiple Components for Success 29

The Future 29

1.10 The Growth of Paperless Project Management 30

1.11 Project Management Maturity and Metrics 32

1.12 Project Management Benchmarking and Metrics 36

Best Practice versus Proven Practice 36

Benchmarking Methodologies 37

1.13 Conclusions 42

2 The Driving Forces for Better Metrics 43

Chapter Overview 43

Chapter Objectives 43

Keywords 43

2.0 Introduction 43

2.1 Stakeholder Relations Management 44

2.2 Project Audits and the PMO 55

2.3 Introduction to Scope Creep 56

Defining Scope Creep 57

Scope Creep Dependencies 59

Causes of Scope Creep 60

The Need for Business Knowledge 61

The Business Side of Scope Creep 62

2.4 Project Health Checks 63

Understanding Project Health Checks 64

Who Performs the Health Check? 66

Life Cycle Phases 67

2.5 Managing Distressed Projects 68

"Root" Causes of Failure 69

The Definition of Failure 71

Early Warning Signs of Trouble 71

Selecting the Recovery Project Manager (RPM) 72

Recovery Life Cycle Phases 74

The Understanding Phase 74

The Audit Phase 75

The Tradeoff Phase 77

The Negotiation Phase 79

The Restart Phase 79

The Execution Phase 80

3 Metrics 81

Chapter Overview 81

Chapter Objectives 81

Keywords 81

3.0 Introduction 81

3.1 Project Management Metrics: The Early Years 82

3.2 Project Management Metrics: Current View 85

Metrics and Small Companies 86

3.3 Metrics Management Myths 86

3.4 Selling Executives on a Metrics Management Program 87

3.5 Understanding Metrics 88

3.6 Causes for Lack of Support for Metrics Management 92

3.7 Using Metrics in Employee Performance Reviews 93

3.8 Characteristics of a Metric 93

3.9 Metric Categories and Types 95

3.10 Selecting the Metrics 98

3.11 Selecting a Metric/KPI Owner 101

3.12 Metrics and Information Systems 102

3.13 Critical Success Factors 102

3.14 Metrics and the PMO 105

3.15 Metrics and Project Oversight/Governance 108

3.16 Metric Traps 109

3.17 Promoting the Metrics 109

3.18 Churchill Downs Incorporated's Project Performance Measurement Approaches 110

Toll Gates (Project Management-Related Progress and Performance Reporting) 111

4 Key Performance Indicators 117

Chapter Overview 117

Chapter Objectives 117

Keywords 117

4.0 Introduction 117

4.1 The Need for KPIs 118

4.2 Using the KPIs 122

4.3 The Anatomy of a KPI 123

4.4 KPI Characteristics 124

Accountability 125

Empowered 126

Timely 126

Trigger Points 126

Easy to Understand 127

Accurate 127

Relevant 128

Seven Strategies for Selecting Relevant Key Performance Indicators 128

Putting the R in KPI 129

Take First Prize 132

4.5 Categories of KPIs 132

4.6 KPI Selection 133

4.7 KPI Measurement 138

4.8 KPI Interdependences 141

4.9 KPIs and Training 142

4.10 KPI Targets 143

4.11 KPI Failures 146

4.12 KPIs and Intellectual Capital 147

4.13 KPI Bad Habits 150

The KPI Bad Habits Causing Your Performance Measurement Struggles 151

4.14 Brightpoint Consulting, Inc. Dashboard Design: Key Performance Indicators and Metrics 156

Introduction 156

Metrics and Key Performance Indicators 156

Scorecards, Dashboards, and Reports 157

Gathering KPI and Metric Requirements for a Dashboard 158

Interviewing Business Users 159

Putting It All Together-The KPI Wheel 159

Start Anywhere, but Go Everywhere 161

Wheels Generate Other Wheels 162

A Word about Gathering Requirements and Business Users 163

Wrapping It All Up 163

5 Value-Based Project Management Metrics 165

Chapter Overview 165

Chapter Objectives 165

Keywords 165

5.0 Introduction 165

5.1 Value Over the Years 167

5.2 Values and Leadership 168

5.3 Combining Success and Value 171

5.4 Recognizing the Need for Value Metrics 175

5.5 The Need for Effective Measurement Techniques 178

5.6 Customer/Stakeholder Impact on Value Metrics 183

5.7 Customer Value Management (CVM) 184

5.8 The Relationship Between Project Management and Value 189

5.9 Background to Metrics 194

Redefining Success 195

The Growth in the Use of Metrics 196

5.10 Selecting the Right Metrics 200

5.11 The Failure of Traditional Metrics and KPIs 204

5.12 The Need for Value Metrics 204

5.13 Creating a Value Metric 205

5.14 Presenting the Value Metric in a Dashboard 213

5.15 Industry Examples of Value Metrics 213

5.16 Use of Crisis Dashboards for Out-Of-Range Value Attributes 219

5.17 Establishing a Metrics Management Program 220

5.18 Using Value Metrics for Forecasting 222

5.19 Metrics and Job Descriptions 224

5.20 Graphical Representation of Metrics 224

5.21 Creating a Project Value Baseline 237

The Performance Measurement Baseline 238

Project Value Management 238

The Value Management Baseline 239

Selecting the Value Baseline Attributes 242

6 Dashboards 245

Chapter Overview 245

Chapter Objectives 245

Keywords 245

6.0 Introduction 245

6.1 Traffic Light Dashboard Reporting 249

6.2 Dashboards and Scorecards 251

Dashboards 251

Scorecards 252

Summary 252

6.3 Benefits of Dashboards 254

6.4 Rules for Dashboards 255

6.5 Bitwork, Inc.: Ten Questions to Ask Before Implementing a Dashboard or Reporting System 255

1 What Are Your Needs? 256

2 What Do You Have in Place Already? 256

3 What is Involved in Integration? 256

4 How Long Does Installation Take? 256

5 How Easy Is the System to Use? 257

6 Who Will Use the System? 257

7 Can You Get Customizations? 257

8 What's Involved in Operations and Maintenance? 258

9 What Does the System Cost? 258

10 How Long Will It Last? 258

6.6 Brightpoint Consulting, Inc.: Designing Executive Dashboards 259

Introduction 259

Dashboard Design Goals 259

Defining Key Performance Indicators 260

Defining Supporting Analytics 260

Choosing the Correct KPI Visualization Components 261

Supporting Analytics 262

Validating Your Design 267

6.7 All that Glitters is Not Gold 268

6.8 Using Emoticons 290

6.9 Agile and Scrum Metrics 291

X-Axis 291

Y-Axis 292

Project Start Point 292

Project End Point 292

Ideal Work Remaining Line 292

Actual Work Remaining Line 292

6.10 Mashup Dashboards 292

6.11 Dashboard Design Tips 294

6.12 Pureshare, Inc. 296

White Paper #1: Metric Dashboard Design 296

White Paper #2: Pro-Active Metrics Management 307

6.13 Logixml, Inc.: Dashboard Best Practices 317

Executive Summary 317

Introduction-What's New about Dashboards? 318

How Modern Is the Modern Dashboard? 319

The Dashboard versus the Spreadsheet 319

Designing the Dashboard 321

The Business-Driven Dashboard 322

The Implications for the IT Provider 323

Implementing the Dashboard 323

Organizational Challenges 324

Common Pitfalls 325

Justifying the Dashboard 326

Return on Investment 326

Ensuring Service Level Agreements 327

Conclusion 327

6.14 A Simple Template 328

6.15 Summary of Dashboard Design Requirements 328

The Importance of Design to Information Dashboards 328

The Rules for Color Usage on Your Dashboard 331

The Rules for Graphic Design of Your Dashboard 333

The Rules for Placing the Dashboard in Front of Your Users-the Key to User Adoption 334

The Rules for Accuracy of Information on Your Dashboard 335

6.16 Dashboard Limitations 335

6.17 The Dashboard Pilot Run 338

6.18 Evaluating Dashboard Vendors 339

6.19 New Dashboard Applications 341

7 Dashboard Applications 343

Chapter Overview 343

Chapter Objectives 343

Keywords 343

7.0 Introduction 343

7.1 Dashboards in Action: Ventyx, an Abb Company 343

7.2 Dashboards in Action: Johnson Controls, Inc. 344

7.3 Dashboards in Action: Computer Associates, Inc. 350

Introduction 350

Project Watchlist Dashboard 352

Project Watchlist Drill-Down 354

PM Alerts Dashboard 354

Project Listing Dashboard 354

Project Status Reports Dashboard 358

Resource Planning Dashboard 358

Resource Planning Drill-Down 358

7.4 Dashboards in Action: PIEmatrix, Inc. 362

7.5 Piematrix Overview 362

PIEmatrix Executive Dashboard 363

Executive Dashboard and To-Do List-Where Does All This Data Come From? 371

Project-Governing and Executing Complex Projects in a Visual and Friendly Way 377

Project-Planning the Project 381

Project-Breaking Down Silos 387

Authoring-Where the Best Practice Content Comes From 387

From Authoring Back to the Executive Dashboard 391

7.6 Dashboards in Action: International Institute for Learning 393

7.7 Dashboards in Action: Westfield Insurance 396

7.8 Dashboards in Action: Mahindra Satyam 398

8 Measurement-Driven Project Management 403

Chapter Overview 403

Chapter Objectives 403

Keywords 403

8.0 Introduction 403

8.1 Measurement Concepts 404

If It Matters, It Is Detectable 404

If It Is Detectable, It Can Be Measured 404

If It Can Be Measured, It Can Be Managed 404

It Has Probably Been Done Before 405

There Is More Available Data Than You Think 405

You Don't Need As Much Data As You Think 405

What Gets Measured, Gets Done 405

You Have to Think Differently Than Most People 406

8.2 Definitions 406

Information Requirement 406

Entity 406

Attribute 406

Process 406

Measurement 407

Uncertainty 407

Accuracy 409

Precision 409

Measure 409

Indicator 409

Information Solution 409

8.3 Measurement Process 409

Preliminary Research 410

Case Study: Customer Loyalty Project, Part, 1 410

Identify Information Requirements 411

Case Study: Customer Loyalty Project, Part 2 413

Analyze Information Requirements 415

Case Study: Customer Loyalty Project; Part 3 416

Case Study: Customer Loyalty Project, Part 4 416

Create Indicator 417

Case Study: Customer Loyalty Project, Part 5 418

Integrate Measurement into Project Processes 421

8.4 Additional Information on Measurement Categories 428

8.5 Final Comments 429.

Notes:

Includes index.

Electronic reproduction. Palo Alto, Calif. : ebrary, 2013. Available via World Wide Web. Access may be limited to ebrary affiliated libraries.

OCLC:

828724596

Access Restriction:

Restricted for use by site license.