Project Management Balanced Scorecard Metrics Template
Although the calculation of these indicators present no problems as the data for their calculation is usually available in-house, a special consideration should be given to other projects and ordinary operations that are undertaken by the organization alongside with the project subject to evaluation.
It particularly concerns the indicators with financial and customer perspective as they indicate the overall performance of the organization and a lot of factors including external ones may affect them. In respect to the indicators with internal and growth and development perspective, they are useful while evaluating a separate project as well as while making comparison between the projects undertaken by the organization to measure the company's growing expertise in project management.
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What are benefits of Project Management metric:
- PM metrics is to be used in all companies where processes are split into various projects.
- KPIs may concerns everything, from project implementation terms and costs, to employees commitment and satisfaction with managerial approaches.
- Continuous evaluation of PM BSC will offer managers timely information on project life cycle.
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More ideas on using Project Management KPI:
Managing a project spans all activities right from the conceptualizing stage to reaching the very end of it. Looking at the fact that there can be numerous areas that require monitoring, implementation of a measurable management strategy is a must. This makes it possible to make decisions and moves in a ‘calculative manner’, when it comes to ‘administration of a project’.
Saying it the other way round, one is supposed to organize the various aspects involved during project management by using a measurement instrument. BSC (Balanced Scorecard) can be the missing piece in this puzzle of tracking and monitoring.
This thought was devised in 1990s by Norton and Kaplan who went ahead to give a complete evaluation procedure to the then ‘incomplete and biased’ strategy. This was by bringing in the ‘non-financial’ aspect also as depending solely on ‘financial part’ was found incapable of reflecting the true picture.
This tool can be used to analyze the progress of a project or activity in ‘quantitative terms’. A similar assessment is possible in case of project management also. To make sure that management of a given assignment is carried out properly, one is required to effectively and accurately organize resources. Moreover, at times implementing effectual ‘follow-up systems’ is also needed.
Stating it in a nut-shell, precise management of a project is all about using numbers and values to get over with it in a ‘cost-effective’ and ‘timely’ manner.
More useful information for Management Evaluation:
Management best practices articles:
Project Management Evaluation Balanced Scorecard Screenshots
Metrics for Management Evaluation. This is the actual scorecard with Project Management Performance Indicators and performance indicators.
The performance indicators include: reduction in cost per sale (%),budget allocated to budget spent ratio (%),time allocated to time spent ratio (%),estimated labor hours to hours spent ratio (%),resource shortage,number of conflicts arisen during the project,project employee turnover (%),increase in re-purchases following the execution of the project (%).
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