Webinar Recap: Project Performance Measurement – Part 1: Overview Of Project Performance Measurements

MPUG

Please find below a transcription of the audio portion of Fletcher Hearn’s session, Project Performance Measurement – Part 1: Overview Of Project Performance Measurements, being provided by MPUG for the convenience of our members. Fletcher Hearns: What can be measured?

Webinar Recap: Project Performance Measurement – Part 2: What to Measure and How to Report

MPUG

Please find below a transcription of the audio portion of Fletcher Hearn’s session, Project Performance Measurement – Part 2: What to Measure and How to Report, being provided by MPUG for the convenience of our members. This one covering, What to Measure and How to Report.

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A Compendium of Works to Increase the Probability of Project Success

Herding Cats

Open Loop / Closed Loop Project Controls. Integrated Master Plan: The Foundation of Program Success , College of Performance Management, May 21, 2014. The Nine "I's" of Program Success ," College of Performance Management. Forming, Storming, Norming, Performing, and Adjourning. Project Performance Management. Connecting the 5 Principles and 5 Practices of Performance-Based Project Management ® To Increase the Probability of Project Success.

2008 45

Increasing the Probability of Project Success

Herding Cats

and the connections between each Process are made to form a Closed Loop control systems needed to manage any project. These charts are an extract from the book Performance-Based Project Management: Increasing the Probability of Project Success and the abstracted training materials Handbook. Capabilities Earned Value Estimating Governance Management Performance-Based Project Management® Principles Requirements Risk Root Cause Analysis Technical Performance Measures

2017 69

Closed Loop Control and Granularity of the Estimating Process

Herding Cats

For any closed loop control system ‒ let’s assume we want to manage our project with such a system ‒ has a signal representing the current state of the system. For software, this can be value produced (assuming we have a unit of measure for that value in the for of effectiveness, performance, key performance parameters, or technical performance measures ). For your Honeywell or Nest controller on the wall, that sample rate is measured in seconds.

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

Decision Analysis - Ordinal and Cardinal Measures

Herding Cats

AHP is based on the principle that all measurements are relative. AHP provides a framework to make relative comparisons using a rational decision structure based on scaled pairwise comparisons (Borda Ranking) using a scale that converts stakeholder preferences and priorities into ratio measures. Using this method, the performance, cost, time, and risks of alternatives can be articulated as ratios that can then be compared with one another.

2018 40

Definition of Done

Herding Cats

These Measures have Little meaning to the Decision Makers. Do those capabilities meet the Measures of Effectiveness needed to accomplish the mission of the system in operational units of success closely related to the achievements of the mission or operational objectives evaluated in the operational environment, under a specific set of conditions? These are attributes to assure the system has the capability and capacity to perform. Close Loop Thinking.

2017 38

Integrated Master Plan - Revisited

Herding Cats

Transparent – Comprehensible display of what needs to be done and how completion is measured. It is essential that the IMP represent the work that must be performed. If the IMP is being prepared as part of a proposal, then the Request for Proposal (RFP) and RFP attachments will be the primary documents to define the work to be performed. The IMP shows the Accomplishments and the measures of Accomplishments that are essential to get through a design review.

From Mission Capabilities to Done

Herding Cats

No matter the project domain or the technical development method, project success is dependent on knowing what Done looks like in units of measure meaningful to the decision maker. These measures are: Measures of Effectiveness (MOE) – are the operational measures of success that are closely related to the achievements of the mission or operational objectives evaluated in the operational environment, under a specific set of conditions.

2017 35

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

Herding Cats

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. This physical percent complete is measured as compliance with the Technical Performance Measures of the outcomes of the work efforts, that consume the budget for that work. The Measures of effectiveness. The Measures of Performance are. Key Performance Parameters.

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. Closed Loop Stochastic Adaptive control in the presence of Evolving Uncertainty. 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. The Cone of Uncertainty as a Technical Performance Measure.

2017 32

6 Tools and Techniques for Controlling Risks

Project Risk Coach

Closing risks. Technical performance measurement. The technical performance measurement is a measurement of the technical accomplishments. And they regularly perform the control activities to keep the project healthy. Changes in project risks are inevitable. As a project progresses, the probability and impact of current risks change, new risks emerge, and residual risks may increase or decrease.

Project Management Process: The Basics

Clarizen

Monitoring & Controlling : processes required to track, assess, and regulate project performance and progress, as well as identify and initiate changes as necessary. . Closing : processes required to formally end a project, or a phase of a project. . Work performance data.

6 Tools and Techniques for Controlling Risks

Project Risk Coach

Risk reassessment Risk reassessments involve the following activities: Identifying new risks Evaluating current risks Evaluating the risk management processes Closing risks. 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. Changes in project risks are inevitable.

Schedule Performance Index (SPI): An Introduction

ProjectManager.com

The schedule performance index was created to eliminate the guesswork and give a specific, quantifiable answer to the question, as well as show where improvements need to be made for maximum efficiency. What Is the Schedule Performance Index? Schedule Performance Index Key Terms.

2021 349

5 Key Steps to Successful Project Management

Entry

The project plan should contain performance measures and any process changes that need to take place and who and what will these changes impact. Step 5: Reach Your Goal, Deliver and Close the Project. Managing your first project can be daunting. To simplify things, here are five steps critical to the successful management of a project: Step 1: Initiate the Project by Defining the Scope.

2017 150

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. Agile delivery flourishes when you have long lived teams of generalizing specialists who collaborate closely.

2016 155

A Complete Guide to PMIS

ProjectManager.com

What these programs do is help project managers to plan, execute and close their project. It is used to support all aspects of the project from initiating through closing and can include both manual and automated systems.”. Some will also have automated gathering and reporting on key performance indicators (KPIs). Materials management, cost collect, performance measurement and, of course, reporting are all supported by PMIS.

2019 206

Project Management Process & Phases

ProProfs Project Management

Initiation is the very first phase of project management, and it is all about measuring the value, benefits, and feasibility of the project. specific, measurable, attainable, realistic, timely) . Perform Qualitative Risk Analysis . Perform Quantitative Risk Analysis .

Most Important Project Management Kpis You Should Be Tracking

ProProfs Project Management

So, keep your cards close and track what matters most, to emerge as a winner. 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).

2020 91

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

Different Project Management Terms Beginners Should Know

ProProfs Project Management

KPI stands for Key Performance Indicators. These indicators basically measure a project’s success by defining various metrics for different departments, such as marketing, sales, etc. Performance Measurement Baseline. Closing Process.

2020 91

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

Assessing Value Produced in Exchange for the Cost to Produce the Value

Herding Cats

A target Value must be measured in units meaningful to the decision makers. Measures of Effectiveness and Performance that can monetized this Value. Measures of Effectiveness - is an Operational measure of success that is closely related to the achievements of the mission or operational objectives evaluated in the operational environment, under a specific set of conditions. So the numerator and the denominator must have the same units of Measure.

2016 41

3 Questions That Must Be Asked at Every Project Management Meeting

Herding Cats

In the ConOps are measures of Effectiveness for the components of the project that implement the Capabilities . The only answer to that is a measure of Physical Percent Complete (P%C). P%C starts with defining the Measures of Performance and Technical Performance Measures for each deliverable as a function of time. These measures are supported by Quantifiable Backup Data. Progress Means Measuring Physical Percent Complete.

2018 35

Value and the Needed Units of Measure to Make Decisions

Herding Cats

Without units of measure of Value beyond time and money, there can be not basis of comparison between one value based choice and another. In the Systems Engineering world where we work, there are four critical units of measure for all we done. Measures of Effectiveness - these are operational measures of success that are closely related to the achievements of the mission or operational objectives evaluated in the operational environment, under a specific set of conditions.

2016 42

How to Delegate Tasks With More Confidence and Less Stress

Girl's Guide to PM

As recipient of the delegation you have a duty to: Confirm the performance criteria are mutually understood and agreed. Be Clear on Requirements and Confirm Performance Criteria. Requirements matched to agreed performance measurement criteria are a pair (or the same thing stated twice). The exchange of requirement and measurement criteria starts with the delegator who must be able to state the end result that they require.

2018 214

Cone of Uncertainty - Part Cinq

Herding Cats

The Cone is a project management framework describing the uncertainty aspects of estimates (cost and schedule) and other project attributes (cost, schedule, and technical performance parameters). Estimates of cost, schedule, technical performance on the left side of the cone have a lower probability of being precise and accurate than estimates on the right side of the cone. The Cone is NOT the result of the project's past performance.

2017 33

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). A value that is close enough to the right answer, developed with some thought or calculation. I work in a domain where estimates are made every single week. Estimate to Complete (ETC), Estimate at Completion (EAC), Estimated Completion Date (ECD) are the life blood of our software intensive system of systems programs. To the left is a typical SISoS we work.

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

Advice for Project Managers: How do I measure the success (or failure) of my projects?

LiquidPlanner

“Dear Elizabeth: I want to get better at measuring the success (or failure) of my projects. And how can I use these metrics to improve project performance?”. You can measure time taken to fix defects, number of change requests, deviation from schedule baseline, percent complete, burn rate, or anything else you want. These measures will give you some interesting management information and might help you manage the team. Then track your actual performance.

2017 91

Does the Project Pass the Smog Test?

Brad Egeland

with the annual registration fee, we are also ensuring that we are meeting or exceeding the regular performance requirements. Tackling the performance issue This one made me think in terms of the projects we manage. And performance may not be a critical issue with the customer.

2021 161

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 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. is initial data for your project performance measurement necessary for the start. is a process of assigning resources and analyzing the budget necessary for adequate risk management to create a cost performance baseline. .

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 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. is initial data for your project performance measurement necessary for the start. is a process of assigning resources and analyzing the budget necessary for adequate risk management to create a cost performance baseline. .

Invoking "Laws" Without a Domain or Context

Herding Cats

Its most popular formulation is: "When a measure becomes a target, it ceases to be a good measure." What this says is again when the measure becomes the target, that target impacts the measure, changing the target. . Is this macroeconomic model a correct operational model for software development processes - measuring changes the target ? EVM is a project management technique for measuring project performance and progress in an objective manner.

2016 36

Cone of Uncertainty - Part Cinq (Updated)

Herding Cats

The Cone is a project management framework describing the uncertainty aspects of estimates (cost and schedule) and other project attributes (cost, schedule, and technical performance parameters). Estimates of cost, schedule, technical performance on the left side of the cone have a lower probability of being precise and accurate than estimates on the right side of the cone. The Cone of Uncertainty describes the evolution of the measure of uncertainty during a project.

2017 30

Cone of Uncertainty - Part Deux

Herding Cats

The Cone is a project management framework describing the uncertainty aspects of estimates or any other project attribute (in this post, cost, schedule, and technical performance parameters). Estimates of cost, schedule, technical performance on the left side of the cone have a lower probability of being precise and accurate than estimates on the right side of the cone. This is a closed loop control system for managing the program with a T echnical Performance Measure (TPM).

2017 30

Risk Management is How Adults Manage Projects

Herding Cats

All making things smaller dos is show that you're late, over budget, and what you're building (Technical Performance Measures) doesn't work faster. It just closed the loop faster. But when some statement is made about risk, estimating, performance modeling, or the like - always ask for references. A Beginners Guide to Uncertainty of Measurement , Stephanie Bell, National Physics Laboratory, 1999.

2003 38