Project Management Metrics, KPIs, and Dashboards, 4th Edition

2 THE DRIVING FORCES FOR BETTER METRICS

CHAPTER OVERVIEW

Today, more than ever before, a great percentage of projects are becoming distressed and possibly failing. Techniques such as project audits and health checks encourage the use of a more formalized metrics management system. Effective project decisions cannot be made without meaningful metrics. Stakeholder relations management thrives on meaningful metrics.

CHAPTER OBJECTIVES

• To understand the importance of metrics in dealing with stakeholders
• To understand the importance of metrics when conducting project audits
• To understand the importance of metrics when performing health checks
• To understand the metrics can and will change when trying to recover a distressed project

KEY WORDS

• Boundaries
• Distressed projects
• Project audits
• Project health checks
• Scope creep
• Stakeholder relations management (SRM)

2.0 INTRODUCTION

Companies do not simply add more metrics or key performance indicators (KPIs) by choice. Usually driving forces make it evident that such changes are needed. Complacency works when things are going well or as planned. When project managers start accepting more complex projects, however, as was discussed in Chapter 1, things have a tendency to go poorly, and the need for additional metrics is recognized.

By performing audits and health checks, project managers can prevent a project from becoming distressed, provided that the cause of the problem is detected early enough and options exist for corrective ...