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

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Title:

Personal Author:

Kerzner, Harold R.

Edition:

2nd ed.

Publication Information:

NY. : Wiley, 2013.

Physical Description:

ix, 436 p. : ill. (some col.) ; 26 cm.

ISBN:

9781118524664

Subject Term:

Project management

Project management -- Quality control

Performance standards

Work measurement

Available:*

Library	Item Barcode	Call Number	Material Type	Item Category 1	Status
Searching... PSZ JB	30000010321236	HD69.P75 K492 2013	Open Access Book	Book	Searching... Unknown

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#65533;'s PMBOK#65533; 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.

(PMI and PMBOK are registered marks of the Project Management Institute, Inc.)

Author Notes

Harold Kerzner, Ph.D., is Senior Executive Director for Project Management at the International Institute for Learning, Inc. (IIL), a global learning solutions company offering professional training and consulting services worldwide. Dr. Kerzner's profound effect on the project management industry inspired IIL to establish, in coordination with PMI, the Kerzner International Project Manager of the Year Award, which is presented to a distinguished PMP or global equivalent each year.

Preface	p. vii
1 The Changing Landscape of Project Management	p. 1
Chapter Overview	p. 1
Chapter Objectives	p. 1
Keywords	p. 1
1.0 Introduction	p. 1
1.1 Executive View of Project Management	p. 2
1.2 Complex Projects	p. 4
Comparing Traditional and Nontraditional Projects	p. 6
Defining Complexity	p. 9
Tradeoffs	p. 9
Skill Set	p. 10
Governance	p. 11
Decision Making	p. 11
Fluid Methodologies	p. 11
1.3 Global Project Management	p. 12
1.4 Project Management Methodologies and Frameworks	p. 13
Light Methodologies	p. 16
Heavy Methodologies	p. 17
Frameworks	p. 17
1.5 The Need for Effective Governance	p. 19
1.6 Engagement Project Management	p. 20
1.7 Customer Relations Management	p. 22
1.8 Other Developments in Project Management	p. 23
1.9 A New Look at Defining Project Success	p. 24
Success Is Measured by the Triple Constraints	p. 25
Customer Satisfaction Must Be Considered As Well	p. 25
Other (or Secondary) Factors Must Be Considered As Well	p. 25
Success Must Include a Business Component	p. 26
Prioritization of Success Constraints May Be Necessary	p. 27
The Definition of Success Must Include a "Value" Component	p. 28
Multiple Components for Success	p. 29
The Future	p. 29
1.10 The Growth of Paperless Project Management	p. 30
1.11 Project Management Maturity and Metrics	p. 32
1.12 Project Management Benchmarking and Metrics	p. 36
Best Practice versus Proven Practice	p. 36
Benchmarking Methodologies	p. 37
1.13 Conclusions	p. 42
2 The Driving Forces for Better Metrics	p. 43
Chapter Overview	p. 43
Chapter Objectives	p. 43
Keywords	p. 43
2.0 Introduction	p. 43
2.1 Stakeholder Relations Management	p. 44
2.2 Project Audits and the PMO	p. 55
2.3 Introduction to Scope Creep	p. 56
Defining Scope Creep	p. 57
Scope Creep Dependencies	p. 59
Causes of Scope Creep	p. 60
The Need for Business Knowledge	p. 61
The Business Side of Scope Creep	p. 62
2.4 Project Health Checks	p. 63
Understanding Project Health Checks	p. 64
Who Performs the Health Check?	p. 66
Life Cycle Phases	p. 67
2.5 Managing Distressed Projects	p. 68
"Root" Causes of Failure	p. 69
The Definition of Failure	p. 71
Early Warning Signs of Trouble	p. 71
Selecting the Recovery Project Manager (RPM)	p. 72
Recovery Life Cycle Phases	p. 74
The Understanding Phase	p. 74
The Audit Phase	p. 75
The Tradeoff Phase	p. 77
The Negotiation Phase	p. 79
The Restart Phase	p. 79
The Execution Phase	p. 80
3 Metrics	p. 81
Chapter Overview	p. 81
Chapter Objectives	p. 81
Keywords	p. 81
3.0 Introduction	p. 81
3.1 Project Management Metrics: The Early Years	p. 82
3.2 Project Management Metrics: Current View	p. 85
Metrics and Small Companies	p. 86
3.3 Metrics Management Myths	p. 86
3.4 Selling Executives on a Metrics Management Program	p. 87
3.5 Understanding Metrics	p. 88
3.6 Causes for Lack of Support for Metrics Management	p. 92
3.7 Using Metrics in Employee Performance Reviews	p. 93
3.8 Characteristics of a Metric	p. 93
3.9 Metric Categories and Types	p. 95
3.10 Selecting the Metrics	p. 98
3.11 Selecting a Metric/KPI Owner	p. 101
3.12 Metrics and Information Systems	p. 102
3.13 Critical Success Factors	p. 102
3.14 Metrics and the PMO	p. 105
3.15 Metrics and Project Oversight/Governance	p. 108
3.16 Metric Traps	p. 109
3.17 Promoting the Metrics	p. 109
3.18 Churchill Downs Incorporated's Project Performance Measurement Approaches	p. 110
Toll Gates (Project Management-Related Progress and Performance Reporting)	p. 111
4 Key Performance Indicators	p. 117
Chapter Overview	p. 117
Chapter Objectives	p. 117
Keywords	p. 117
4.0 Introduction	p. 117
4.1 The Need for KPIs	p. 118
4.2 Using the KPIs	p. 122
4.3 The Anatomy of a KPI	p. 123
4.4 KPI Characteristics	p. 124
Accountability	p. 125
Empowered	p. 126
Timely	p. 126
Trigger Points	p. 126
Easy to Understand	p. 127
Accurate	p. 127
Relevant	p. 128
Seven Strategies for Selecting Relevant Key Performance Indicators	p. 128
Putting the R in KPI	p. 129
Take First Prize	p. 132
4.5 Categories of KPIs	p. 132
4.6 KPI Selection	p. 133
4.7 KPI Measurement	p. 138
4.8 KPI Interdependences	p. 141
4.9 KPIs and Training	p. 142
4.10 KPI Targets	p. 143
4.11 KPI Failures	p. 146
4.12 KPIs and Intellectual Capital	p. 147
4.13 KPI Bad Habits	p. 150
The KPI Bad Habits Causing Your Performance Measurement Struggles	p. 151
4.14 Brightpoint Consulting, Inc. Dashboard Design: Key Performance Indicators and Metrics	p. 156
Introduction	p. 156
Metrics and Key Performance Indicators	p. 156
Scorecards, Dashboards, and Reports	p. 157
Gathering KPI and Metric Requirements for a Dashboard	p. 158
Interviewing Business Users	p. 159
Putting It All Together-The KPI Wheel	p. 159
Start Anywhere, but Go Everywhere	p. 161
Wheels Generate Other Wheels	p. 162
A Word about Gathering Requirements and Business Users	p. 163
Wrapping It All Up	p. 163
5 Value-Based Project Management Metrics	p. 165
Chapter Overview	p. 165
Chapter Objectives	p. 165
Keywords	p. 165
5.0 Introduction	p. 165
5.1 Value Over the Years	p. 167
5.2 Values and Leadership	p. 168
5.3 Combining Success and Value	p. 171
5.4 Recognizing the Need for Value Metrics	p. 175
5.5 The Need for Effective Measurement Techniques	p. 178
5.6 Customer/Stakeholder Impact on Value Metrics	p. 183
5.7 Customer Value Management (CVM)	p. 184
5.8 The Relationship Between Project Management and Value	p. 189
5.9 Background to Metrics	p. 194
Redefining Success	p. 195
The Growth in the Use of Metrics	p. 196
5.10 Selecting the Right Metrics	p. 200
5.11 The Failure of Traditional Metrics and KPIs	p. 204
5.12 The Need for Value Metrics	p. 204
5.13 Creating a Value Metric	p. 205
5.14 Presenting the Value Metric in a Dashboard	p. 213
5.15 Industry Examples of Value Metrics	p. 213
5.16 Use of Crisis Dashboards for Out-Of-Range Value Attributes	p. 219
5.17 Establishing a Metrics Management Program	p. 220
5.18 Using Value Metrics for Forecasting	p. 222
5.19 Metrics and Job Descriptions	p. 224
5.20 Graphical Representation of Metrics	p. 224
5.21 Creating a Project Value Baseline	p. 237
The Performance Measurement Baseline	p. 238
Project Value Management	p. 238
The Value Management Baseline	p. 239
Selecting the Value Baseline Attributes	p. 242
6 Dashboards	p. 245
Chapter Overview	p. 245
Chapter Objectives	p. 245
Keywords	p. 245
6.0 Introduction	p. 245
6.1 Traffic Light Dashboard Reporting	p. 249
6.2 Dashboards and Scorecards	p. 251
Dashboards	p. 251
Scorecards	p. 252
Summary	p. 252
6.3 Benefits of Dashboards	p. 254
6.4 Rules for Dashboards	p. 255
6.5 Bitwork, Inc.: Ten Questions to Ask Before Implementing a Dashboard or Reporting System	p. 255
1 What Are Your Needs?	p. 256
2 What Do You Have in Place Already?	p. 256
3 What is Involved in Integration?	p. 256
4 How Long Does Installation Take?	p. 256
5 How Easy Is the System to Use?	p. 257
6 Who Will Use the System?	p. 257
7 Can You Get Customizations?	p. 257
8 What's Involved in Operations and Maintenance?	p. 258
9 What Does the System Cost?	p. 258
10 How Long Will It Last?	p. 258
6.6 Brightpoint Consulting, Inc.: Designing Executive Dashboards	p. 259
Introduction	p. 259
Dashboard Design Goals	p. 259
Defining Key Performance Indicators	p. 260
Defining Supporting Analytics	p. 260
Choosing the Correct KPI Visualization Components	p. 261
Supporting Analytics	p. 262
Validating Your Design	p. 267
6.7 All that Glitters is Not Gold	p. 268
6.8 Using Emoticons	p. 290
6.9 Agile and Scrum Metrics	p. 291
X-Axis	p. 291
Y-Axis	p. 292
Project Start Point	p. 292
Project End Point	p. 292
Ideal Work Remaining Line	p. 292
Actual Work Remaining Line	p. 292
6.10 Mashup Dashboards	p. 292
6.11 Dashboard Design Tips	p. 294
6.12 Pureshare, Inc.	p. 296
White Paper #1: Metric Dashboard Design	p. 296
White Paper #2: Pro-Active Metrics Management	p. 307
6.13 Logixml, Inc.: Dashboard Best Practices	p. 317
Executive Summary	p. 317
Introduction-What's New about Dashboards?	p. 318
How Modern Is the Modern Dashboard?	p. 319
The Dashboard versus the Spreadsheet	p. 319
Designing the Dashboard	p. 321
The Business-Driven Dashboard	p. 322
The Implications for the IT Provider	p. 323
Implementing the Dashboard	p. 323
Organizational Challenges	p. 324
Common Pitfalls	p. 325
Justifying the Dashboard	p. 326
Return on Investment	p. 326
Ensuring Service Level Agreements	p. 327
Conclusion	p. 327
6.14 A Simple Template	p. 328
6.15 Summary of Dashboard Design Requirements	p. 328
The Importance of Design to Information Dashboards	p. 328
The Rules for Color Usage on Your Dashboard	p. 331
The Rules for Graphic Design of Your Dashboard	p. 333
The Rules for Placing the Dashboard in Front of Your Users-the Key to User Adoption	p. 334
The Rules for Accuracy of Information on Your Dashboard	p. 335
6.16 Dashboard Limitations	p. 335
6.17 The Dashboard Pilot Run	p. 338
6.18 Evaluating Dashboard Vendors	p. 339
6.19 New Dashboard Applications	p. 341
7 Dashboard Applications	p. 343
Chapter Overview	p. 343
Chapter Objectives	p. 343
Keywords	p. 343
7.0 Introduction	p. 343
7.1 Dashboards in Action: Ventyx, an Abb Company	p. 343
7.2 Dashboards in Action: Johnson Controls, Inc.	p. 344
7.3 Dashboards in Action: Computer Associates, Inc.	p. 350
Introduction	p. 350
Project Watchlist Dashboard	p. 352
Project Watchlist Drill-Down	p. 354
PM Alerts Dashboard	p. 354
Project Listing Dashboard	p. 354
Project Status Reports Dashboard	p. 358
Resource Planning Dashboard	p. 358
Resource Planning Drill-Down	p. 358
7.4 Dashboards in Action: PIEmatrix, Inc.	p. 362
7.5 Piematrix Overview	p. 362
PIEmatrix Executive Dashboard	p. 363
Executive Dashboard and To-Do List-Where Does All This Data Come From?	p. 371
Project-Governing and Executing Complex Projects in a Visual and Friendly Way	p. 377
Project-Planning the Project	p. 381
Project-Breaking Down Silos	p. 387
Authoring-Where the Best Practice Content Comes From	p. 387
From Authoring Back to the Executive Dashboard	p. 391
7.6 Dashboards in Action: International Institute for Learning	p. 393
7.7 Dashboards in Action: Westfield Insurance	p. 396
7.8 Dashboards in Action: Mahindra Satyam	p. 398
8 Measurement-Driven Project Management	p. 403
Chapter Overview	p. 403
Chapter Objectives	p. 403
Keywords	p. 403
8.0 Introduction	p. 403
8.1 Measurement Concepts	p. 404
If It Matters, It Is Detectable	p. 404
If It Is Detectable, It Can Be Measured	p. 404
If It Can Be Measured, It Can Be Managed	p. 404
It Has Probably Been Done Before	p. 405
There Is More Available Data Than You Think	p. 405
You Don't Need As Much Data As You Think	p. 405
What Gets Measured, Gets Done	p. 405
You Have to Think Differently Than Most People	p. 406
8.2 Definitions	p. 406
Information Requirement	p. 406
Entity	p. 406
Attribute	p. 406
Process	p. 406
Measurement	p. 407
Uncertainty	p. 407
Accuracy	p. 409
Precision	p. 409
Measure	p. 409
Indicator	p. 409
Information Solution	p. 409
8.3 Measurement Process	p. 409
Preliminary Research	p. 410
Case Study: Customer Loyalty Project, Part, 1	p. 410
Identify Information Requirements	p. 411
Case Study: Customer Loyalty Project, Part 2	p. 413
Analyze Information Requirements	p. 415
Case Study: Customer Loyalty Project; Part 3	p. 416
Case Study: Customer Loyalty Project, Part 4	p. 416
Create Indicator	p. 417
Case Study: Customer Loyalty Project, Part 5	p. 418
Integrate Measurement into Project Processes	p. 421
8.4 Additional Information on Measurement Categories	p. 428
8.5 Final Comments	p. 429
Index	p. 431

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Summary

Summary

Author Notes

Table of Contents