Project KPIs for Project Manager
KPIs For Project Manager
We now know, Key performance indicators (KPIs) are used as key measure to evaluate how effectively project is performing. In absence of KPIs it would be just a guesswork and arbitrary to determine project success or failure. Even one would not be able to specify how well or how much badly the project has performed.
In the previous article we looked at the list of measures i.e KPIs that are readily available for project team members and they can track their own performance using these KPIs. Project manager on the other hand needs to take micro as well as high-level view of a project. S/he needs to know exactly what is happening in the project in terms of tasks schedule, budget, estimated cost, actual cost, issues, risks, changes, resource allocation, utilization, over-all progress, blocking elements, etc.
Track KPIs For Project Manager Using ZilicusPM
There are different ways for different organizations to evaluate progress of a project or performance of the team. It means one company/department can have different KPIs from other. These Key Performance Index (KPIs) can be like
- No project can not lag behind schedule by more than 30% at any time
- Every project should have resource utilization of at least 75% at any time
- No project cost can overshoot its budget by 20 %
- No project can have open issues percentage more than 40%
- Maximum risk exposure for any project can have is 40%
- Allowable Cost Performance Index range is 85%-100%
As a performance evaluation process for projects, organization or Project Management Office (PMO) therein, should have KPIs defined for its team, projects, project managers, etc. ZilicusPM has more than seventy (70) KPIs for project managers to assess health of the project(s).
A short note: Reposted from previous article
Although ideally, all projects should be managed holistically, it is possible that team members and in some cases project managers are not well versed with holistic way of managing projects. It is understandable and true for accidental project managers. ZilicusPM has a way wherein one can turn off the project management modules for the company, if team is not comfortable with. Of course, one can turn on these modules again as and when team knows about say project risks, project changes, project issues, stakeholder management, time tracking, cost management, expenses tracking, etc.
Now let’s look at KPIs that project managers can track to assess progress of the projects they are managing.
- High Level KPIs that Project Manager Can Track
- Project Status KPIs for Project Manager
- Project Schedule KPIs for Project Manager
- Project Financial KPIs for Project Manager
- Project Issues KPIs for Project Manager
- Project Risks KPIs for Project Manager
- Project Changes KPIs for Project Manager
- Project Resources KPIs for Project Manager
For some of these KPIs, there is explanation and as well as snapshot is provided.
High Level Indicators (Project KPIs for Project Manager)
- Project Health — Schedule
If your organization has a way to specify what is acceptable slippage for a project, it becomes a KPI. As mentioned earlier, some organizations can not let project lag more than 40% behind schedule, otherwise they feel the heat of penalty from their clients. In this case, internally, they might want to set project schedule KPI as 30%. So whenever any project lags behind schedule by 25%, it gets highlighted and corrective action can be taken.
- Project Health — Resources
If your project has resource being used for their 30% of allocated time, that would be very difficult to justify in today’s competitive world. Especially if your projects have contractors and if you don’t assign them enough work, they it adds to cost without significant benefit to the project. Resource utilization is very important KPIs not only from team perspective but also whether project manager is able to do justice to its role. ZilicusPM let’s you clearly and transparently know about resource utilization.
- Project Health — Issues
If you are a professional services orgnaization delivering client projects, or if you are building a product, then can you let project issues, incidents/bugs remain open: how many, for how much longer, by whom, of what priority. Answers to these questions gives you another KPI about project Health — Issues. ZilicusPM multi-project dashboard clearly shows percentage of open issues for a given project a given point in time. If KPI says there can not be more than 50% of the issue remain open at any time, clearly what we see below is a crossing the limit set by KPI.
- Project Health — Risk
Similarly if your organization, department or projects deal with compliance, audit or anything related to hazardous stuff (Environment Health Safety); then risk management is must for you. In such cases, the performance evaluation i.e. the KPI can be based on project Risk Exposure. You can track risk exposure on a regular basis and ensure that you are not crossing the line.
- Project Schedule Planned Vs Actual Progress
- Project Budget Utilization
This KPI would expect that actual cost of the project is still within the budget and you don’t have to go for increase-the-budget approval
- Project Budget vs Estimated Cost
- Project Estimated Cost Vs Actual Cost
- Project Resource Utilisation
Projects Status KPIs
- Number of Projects in Progress
- Number of Projects in Planning
- Number of Cancelled Projects
Similar to the numbers shown above, project manager can also see/track number of cancelled project for him (as well as other projects, if he is involved)
- Number of On-Hold Projects
Once in a while, if your projects are put on hold for some reason, that might be okay. But if such thing keep repeating, then you will have to alert. Such tracking of On-Hold projects can be a KPI for certain kinds of industry or managers.
- Number of Completed Projects
- Total Number of Projects Being Managed
- Portfolio-wise Number of Projects
Project Schedule KPIs
- Project Slippage/Advances
How much of a project slippage is acceptable, when should be reported or escalated & brought to senior management’s attention. A project KPI for project slippage will set the guidance for project managers say — Upto 30% slippage in project schedule can be tolerated at any point in time. As mentioned earlier, if there are penalty for project delays, then organizations are very careful about project slippage. Such KPIs prove to be very effective in tracking and containing project delays.
- Number of In Progress Tasks
- Number of Not Started Tasks
- Number of Completed Tasks
- Progress of High Level Tasks
Similarly there are additional KPIs that one can track to ensure project schedule is progressing the way organization expects.
- Number of Overdue Tasks
- Number of Tasks Yet to Start
- Number of High Priority Tasks in Progress
- Number of High Priority Tasks Overdue
- Number of Milestones Achieved
- Number of Milestones Pending
- Number of Milestones in Future
- Number of Unassigned Tasks
- Earned Value Analysis
- Schedule Performance Index (CPI)
- Schedule Variance
- Project Tasks on Critical Path
- Baseline Schedule
- Number of Pending Tasks This Week
- Number of Pending Tasks Next Week
Project Budget, Cost KPIs
Project financial KPIs are considered to be the most crucial apart from schedule/progress one, of course because if is about money, it can be about topline, it can be about bottomline as well. Companies, project managers have different ways to track financial performance of the project. Popular ones in project management domain are cost performance index (CPI), cost variance, project billing, margin, etc. One can track project financial performance using ZilicusPM.
- Project Cost Variance
- Project Cost Overrun
- Project Cost Performance Index (CPI)
- Estimated Fixed Cost, Resource Cost at Task Level
- Actual Fixed Cost, Actual Resource Cost at Task Level
- Estimated Cost of Work Scheduled at Task Level
- Estimated Cost of Work Performed at Task Level
- Project Billing
- Project Margin
Project Resources KPIs
- Resource-wise percentage Utilization in a Project
- Resource-wise Load in a Project
- Resource Billing in a Project
- Resource cost in a Project
- Actual Work Hours Spent in a Project
- Customer Wise Resource Work Planned Vs Actual Work
Project Issues KPIs
- Number of High Priority Issues
- Number of Medium Priority Issues
- Number of Medium Priority Issues
- Number of Issues without Priority
- Number of Reported Issues
- Number of Unresolved Issues
- Number of Issues Reported by Customer
- Number of Unresolved Customer Issues
- Number of Resolved Issues
- Number of High Priority Unresolved Issues
- Number of Issues Per Resources
Project Risks KPIs
- Risk Heatmap/ Risk Matrix
- Number of Risks in Project Risk Register
- Number of Un-reviewd Risks
- Number of Reviewed Risks
- Number of Closed Risks
- Number of Risks with Catastrophic Impact
- Number of Risks with Severe Impact
- Number of Risks with Medium Impact
- Number of Risks with Insignificant Impact
- Number of High Probability Risks
- Number of Low Probability Risks
Project Change Requests KPIs
- Number of Active Change Requests
- Number of Change Requests Submitted
- Number of Change Requests Reviewed
- Number of Change Requests To Be Reviewed
- Number of Approved Change Request
- Number of Rejected Change Request
- Number of High Priority Change Request
- Number of Medium Priority Change Request
- Number of Low Priority Change Request
- Number of Change Requests Assigned to Per Team Member
Is there any other KPIs you as a project manager track? Do let us know your opinion.
Originally published at Zilicus Blog | Project Management Software.