November 2022
Intermediate to advanced
448 pages
12h 19m
English
Content preview from Project Management Metrics, KPIs, and Dashboards, 4th Edition
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4 KEY PERFORMANCE INDICATORS
CHAPTER OVERVIEW
People tend to use the words “metrics” and “key performance indicators (KPIs)” interchangeably. Unfortunately, they mean different things. This chapter discusses the differences as well the role of KPIs in project management. At the end of the chapter is a white paper that provides a good summary of the information discussed in the chapter.
CHAPTER OBJECTIVES
- To understand the differences between metrics and KPIs
- To understand that KPIs are controllable factors
- To understand how to use KPIs correctly
- To understand the characteristics of a KPI
- To understand the components of a KPI
- To understand the categories of KPIs
- To understand the issues with KPI selection
KEY WORDS
- Actionable characteristics
- Critical success factors (CSFS)
- KPI owner
- Lagging indicators
- Leading indicators
- Relevant characteristics
- Smart rule
- Stakeholder classification
4.0 INTRODUCTION
As stated in previous chapters, part of the project manager’s role is to understand what the critical metrics are that need to be identified, measured, reported, and managed so that the project will be viewed as a success by all of the stakeholders, if possible. The term “metric” is generic, whereas a key performance indicator (KPI) is specific. KPIs serve as early warning signs that, if an unfavorable condition exists and is not addressed, the results could be poor. KPIs and metrics can be displayed in dashboards, scorecards, and reports.
Defining the correct metrics or ...
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O’Reilly covers everything we've got, with content to help us build a world-class technology community, upgrade the capabilities and competencies of our teams, and improve overall team performance as well as their engagement.Julian F.
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I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.