Phrases Used for Technical Performance Measures

Herding Cats

All project progress is measured independent of resources expended - Mr. Gary Bliss, Director Performance Assessment and Root Cause Analysis (PARCA), US Department of Defense. Budget control is mandatory for any credible management of other peoples money. Measuring progress must be in units meaningful to the decision maker. Objectively assessing accomplishments take place at the work performance level. A Technical Performance Measure is described through.

What is the Management Reserve for Project Budgets?

Project Risk Coach

You look at your budget, but you don't have the funds to respond to these risks. The project manager adds the contingency reserve to the project budget, resulting in the cost baseline. Project Budget = Cost Baseline + Management Reserve Who Controls the Management Reserve?

2021 247
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Project Management, Performance Measures, and Statistical Decision Making

Herding Cats

There is a current rash of suggestions on how to improve the performance of software projects. Figure 1 - Planned Estimates versus Actual Performance from [1]. Who's Budget is it Anyway? Each of these, while well meaning, are missing the means to confirm their credibility.

Compendium of Works to Increase Probability of Project Success

Herding Cats

Project Performance Management (#PPM). Technical Performance Measures (#TPM). Cost, Schedule, and Technical Performance Management (#CSTPM). The overarching theme is focused on defining what Done looks like, assessing progress toward Done in units of measure meaningful to the decision makers. Those units always start with Measures of Effectiveness and Measures of Performance. Project Performance Management.

2015 37

Deconstructing the Hertz and Accenture Debacle

Herding Cats

Of course, No Root Cause analysis has been performed by these advocates, but it makes good click bait for their followers. Were there: Measures of Effectiveness. Measures of Performance. Key Performance Parameters. Did this Programmatic Architecture define all the player, what they were accountable for, the units of measure to assess the credibility, validity, quality, and compliance of their products with the PEP? Measures of Physical Percent Complete.

Performance-Based Project Management®

Herding Cats

Performance–Based Project Management ® integrates five critical program management process areas with – Cost, Schedule, and Technical Performance Measures. The inclusion of Technical Performance Measures (TPM) separates this approach from conventional methods based solely on managing cost and schedule. Done” is always defined in units of measure meaningful to the decision maker. Who's Budget is it Anyway?

Project Versus Product in Agile Development

Herding Cats

If the development work has no deadline , no not to exceed budget, no Minimal Viable Capabilities in the sense of MVP's meaning without these CapaCapabilitieslemented by there Features we cannot Go Live on the needed date for the needed budget, then the phrases in the quote may be applicable. Agree, and focus more on discovery since in *delivery* you have 4 problems: 1. Requirements will change, 2. Requirements are never complete 3.

2018 38

Value First, Requires Margin and Contingency

Herding Cats

There's a webinar coming this week with the title Value First: How our Customers Deliver every Project On-Time, Under-Budget, and High-Quality. But in order to deliver every project on-time, under-budget, and high-quality, there MUST be margin (for the irreducible uncertainties) and contingency (for the reducible uncertainties) since all three of those metrics operate in the presence of uncertainty. There's a popular notion in Agile that says Focus on Value.

Biases in Project Management and How to Remove Them

Herding Cats

What dos Done look like in units of measure meaningful to the decision makers? What is the Plan to reach done at the needed time for the needed budget, with the needed outcomes? What are the measures of physical percent complete needed to inform the decision makers of progress to plan in order to take corrective or preventive actions to stay on plan?

4 Fallacious Reasons to Estimate and Why Those Are Fallacious

Herding Cats

This is a recurring theme of #NoEstimates it's a waste to me the developer, I'd rather be coding , I'm not good at estimating , I see no value in my making estimating when you're just going to use them against me when I'm late and over budget. I need an estimate because… I need to measure productivity. Thus, the common approach to "measure productivity" is to compare the estimates against what, in fact, happened.

Connecting "What" with "How" - and the Failure to Understand the Principles of Systems Engineering and Systems Management

Herding Cats

This is a serious mistake for any non-trivial project or product that operates in the presence of uncertainty, deadlines, not-t-exceed budgets, and mandatory sets of capabilities that are produced in exchange for money. Progress and Value are measured with the same in Earned Value Management. In Earned Value Management paradigm, progress is always measured as physical percent complete. The Measures of effectiveness. The Measures of Performance are.

Risk Management in Five Easy Pieces, with Apologies to Jack

Herding Cats

Managing Cost, Schedule, & Technical Performance Risk Is The Basis Of Good Project Management. Certain information about key project cost, performance, and schedule attributes are often unknown until the project is underway. What are the “units of measure” for this increasing maturity? Using the Triangle Distribution for the costs and durations, a Monte Carlo simulation of the network of activities and their costs can be performed.

2017 37

Fallacy of the Day

Herding Cats

Project Controls are Management Actions, either preplanned to achieve the desired result, or taken as a corrective measure prompted by the monitoring process. Project controls are concerned with the metrics of the project – quantities, time, cost, and other resources and their measurable beneficial outcomes for the project. In the Project Controls paradigm, Value is a measurable attribute of the project controls process - a Closed Loop Control measure.

2017 34

Misinterpretations of the Cone of Uncertainty

Herding Cats

The Cone of Uncertainty as a Technical Performance Measure. Active reduction requires we have a desired reduction goal, perform the work, and measure progress toward the rduction goal. Management of this reduction work and measurement of the progress is a Close Loop Control System paradigm. Closed Loop Control, has a goal, an action, a measurement, and a corrective action. The Cone of Uncertainty as a Technical Performance Measure.

2017 32

Biases in Project Management and How to Remove Them

Herding Cats

What dos Done look like in units of measure meaningful to the decision makers? What is the Plan to reach done at the needed time for the needed budget, with the needed outcomes? What are the measures of physical percent complete needed to inform the decision makers of progress to plan in order to take corrective or preventive actions to stay on plan?

Five Immutable Principles of Project Success

Herding Cats

Without these measures, Done will usually mean . Without these measures, Done will usually mean we ran out of time and money. . The test of the hypothesis for projects are the Measures of Effectiveness, Measures of Performance, Key Performance Parameters, and techTechnicalformance Measures used to assess progress to plan for the project. Show up over budget for the ERP, the ROI we told the Board of Director is now wrong.

2017 35

9 Types of Artifacts in Project Management

Girl's Guide to PM

Here are some examples: Budget Milestone schedule Scope baseline Performance measurement baseline. In this article we’ll look at the types of artifacts in project management, typical documents for each type.

2021 330

6 Tools and Techniques for Controlling Risks

Project Risk Coach

Technical performance measurement. The technical performance measurement is a measurement of the technical accomplishments. During the cost planning, the contingency and management reserves are added to the project budget as needed. And they regularly perform the control activities to keep the project healthy. Changes in project risks are inevitable.

6 Tools and Techniques for Controlling Risks

Project Risk Coach

Technical performance measurement Imagine that you are working on a software development project and that the functional requirements have been developed. The technical performance measurement is a measurement of the technical accomplishments. Reserve analysis During the cost planning, the contingency and management reserves are added to the project budget as needed. And they regularly perform the control activities to keep the project healthy.

Helping functional managers through an agile transformation

Kiron Bondale

What are they measured on and what are they measuring? As Tony Robbins would say, “ Where focus goes, energy flows “ If we haven’t updated performance measures for functional managers and their staff, it will be much harder to encourage them to change. A lot has been written about the challenges caused by functional managers when their company undergoes an agile transformation.

2018 160

Cancelling Projects: The Project Isn't Being Done Right

Project Health Check

A classic way to consider project performance is via the triple constraint of scope/cost/time, often with quality thrown in the mix. Although these Projects can sometimes eventually be recovered and successfully deliver what they set out, on some occasions they could go so far off the rails that they becomes undeliverable – perhaps it many times over budget and years late. In part 1 of this article series, we accepted that Projects sometimes need to be cancelled.

2017 179

6 Tips for Better Schedule Management

ProjectManager.com

Determining these right off the bat and including them in your project schedule will help minimize risk and ensure that each task can be performed effectively with minimal roadblocks and need for management down the road.

2019 321

A Complete Guide to PMIS

ProjectManager.com

Some will also have automated gathering and reporting on key performance indicators (KPIs). Budget: Associate cost with individual tasks for more accurate budget estimation and generation. Control and Performance: Analyze and control cost and performance, updating existing plans as actual against planned data changes, provide what-if scenarios for the project manager. Nor can it create and revise plans, schedules or budgets as quickly.

2019 247

Five Immutable Principles of Project Success

Herding Cats

First, we must recognize that without a clear and concise description of done, the only measures of progress are the passage of time, consumption of resources, and production of technical features. These measures of progress fail to describe what business capabilities our project needs to produce or what mission we are trying to accomplish. How are you going to measure progress toward “done” in units. Execute the Performance Measurement Baseline.

2018 98

Human Resources needs to be part of your company’s agile transformation!

Kiron Bondale

Companies are often organized into departments of distinct, specialized skills and performance measurement programs emphasize the individual instead of teams. Traditional recognition programs reward individual performance with team celebration or recognition getting short shrift when it comes to budgets. The team, rather than any one team member is the lowest level of granularity when it comes to decision-making, commitment and performance.

2016 155

Most Important Project Management Kpis You Should Be Tracking

ProProfs Project Management

You really need to keep a close eye on project performance indicators to make your presence felt in the business domain. How to Measure Project Management KPIs. Cost Performance Index (CPI). Schedule Performance Index (SPI). Budget Variance. Budget Variance.

2020 88

Earned Value Management (EVM) in Agile Development

MPUG

At the start of each iteration, he may be unsure about the applicability of earned value analysis, measurement, and management within Agile. With frequent scope changes, how does one determine what to measure against? Performance Measurement Baseline (PMB).

2020 56

Agile, Waterfall and Hybrid: Managing the Multiple-Methodology Portfolio

Keyedin

Siloed project information scattered across numerous systems and geographies blocks decision-makers from insights into cost and schedule problems and cripples performance-measurement processes. Transparency remains crucial to controlling crises and managing constrained budgets. Now, the intensity of work during IT projects, product development and certain kinds of services contracts require leaner budgets and focused skills in any given sprint.

Agile, Waterfall and Hybrid: Managing the Multiple-Methodology Portfolio

Keyedin

Siloed project information scattered across numerous systems and geographies blocks decision-makers from insights into cost and schedule problems and cripples performance-measurement processes. Transparency remains crucial to controlling crises and managing constrained budgets. Now, the intensity of work during IT projects, product development and certain kinds of services contracts require leaner budgets and focused skills in any given sprint.

The Complete Glossary of 614 Project Management Terms

Workamajig

Each 'activity' is the smallest unit of work that can be performed within the scope of the project. Actual Cost of Work Performed: The total cost of work performed during any given period of time. This is the schedule against which project progress is measured.

2021 78

Different Project Management Terms Beginners Should Know

ProProfs Project Management

Budget. The amount of money allocated to a specific project is referred to as the project budget. KPI stands for Key Performance Indicators. Performance Measurement Baseline. This determines the deviation between actual performance and the estimated performance.

Physical Percent Complete: Knowing When You Are Done

Herding Cats

The goal of every program manager is to have a set of practices that connect all the programmatic planning, risk, and performance information in a single unified view needed to support the decisions that increase the probability of success of any project or program. Cost is measured in dollars and schedule is measured in time. Technical performance is likewise difficult to integrate with either cost or schedule because its units of measure vary with the subject matter.

2018 38

11 Critical Project Management Metrics Every Agency Needs to Track

Workamajig

Peter Drucker may have said it half a century ago, but the old adage still rings true: “If you can measure it, you can improve it.”. A robust PM system might tell you how a project is doing at any moment, but it can’t tell you how the organization or its constituent people are performing. Measuring and monitoring project management metrics fills this gap. You’ll learn the right approach to use when measuring project performance. Accurately measurable.

2019 76

Project Management Process & Phases

ProProfs Project Management

Project Management is the art of coordinating resources and directing working groups to execute components of work so that each group delivers components that can be tied together into a wholesome deliverable (contracted scope of work) within schedule and budget.

Project Management Glossary: 200+ Terms PMs Frequently Use

Epicflow Blog

It contains all the details about the tasks a project team has to perform. . is an approach to evaluating a gross value applying such criteria as budget, complexity, duration, and size based on a previous similar project estimation experience. . is a process of appointing or providing a team member with a responsibility to perform a task. is a state of resource allocation performed by a project manager. Budget at Completion (BAC) . Budgeting .

Project Management Glossary: 200+ Terms PMs Frequently Use

Epicflow Blog

It contains all the details about the tasks a project team has to perform. . is an approach to evaluating a gross value applying such criteria as budget, complexity, duration, and size based on a previous similar project estimation experience. . is a process of appointing or providing a team member with a responsibility to perform a task. is a state of resource allocation performed by a project manager. Budget at Completion (BAC) . Budgeting .

What is Earned Value Management & How its Theories Affect PM Software

ProProfs Project Management

Measuring the performance of a project against the project baseline has plenty of benefits. Earned value management in project management can be defined as: A systematic project management process that helps managers to measure project performance. PV or Planned Value – the budget of a project. Budget. Budget. Budget. Budget. Can I measure the performance of a current project with that of previous ones I have completed?

2019 54

Misquotes of Deming

Herding Cats

It is wrong to suppose that if you can’t measure it, you can’t manage it – a costly myth. I spent the week speaking at the College of Performance Management conference where government and industry come together to work on the issues of cost, schedule, and technical performance management process improvement needed to increase the probability of program success. Technical Performance Measures. Who's Budget is it Anyway?

2016 40

What is an Estimate? What is Estimating?

Herding Cats

There are several partitions of this information that are common in building the Performance Measurement Baseline (PMB). The PMB is a time phased, budgeted description of the project. In traditional programs, this is an Integrated Master Plan and Integrated Master Schedule, with budgets laid into the Work Packages. I work in a domain where estimates are made every single week.

Doing More with Less: PMO Metrics to Keep You from Drowning

Keyedin

so that’s about right) but it pretty well summarized the plight of PMOs who don’t bother to measure what’s working especially when it comes to resource management and so convince others that what’s happening is great (come on in, the water’s fine). who believes they will be saved by the way things have always been done or by not bothering to measure what’s really working. In this fable, are you the fox or the goat?

2019 60