Killer Analytics: Top 20 Metrics Missing from your Balance Sheet

Chapter 3

The Project Management Index

WHY AN ORGANIZATION MIGHT TRACK THIS

Questions Answered

• Are we on schedule on a handful of key projects leaders need to monitor?
• Are we producing quality deliverables or products from this project?
• Will the projects’ customers be happy with our performance?
• Are we staying under budget and managing costs?
• Is the scope of the project being managed properly to avoid scope creep?
• Are we following the project plan and using a disciplined project management process?

Why Is This Information Important?

All organizations spend some amount of their time and money on projects. Projects are usually clearly defined activities designed to produce an outcome or product. Typical projects include:

• Purchasing and installing new hardware and software
• Building or remodeling facilities
• Developing new HR programs such as training programs, compensation, or recognition
• Buying another company
• Performing maintenance on major equipment
• Designing and launching a new marketing and advertising strategy
• Developing and implementing a new communications strategy
• Changing the culture
• Purchasing new equipment

Projects are an important and expensive part of work for all organizations. For some organizations I have worked with, like Bechtel or the Army Corps of Engineers, or consulting firms like Deloitte, all their work is projects. Because each project is unique, many organizations have no data on them, they simply rely on verbal reports and custom presentations prepared ...