Many of the metrics used by project teams to gauge performance are obvious. PMP®s are already tracking adherence to budgets and timelines. They review how well each project’s goals were met and how closely they aligned with stakeholders’ expectations. They also maintain watch over things such as pre- and post-project productivity impacts across end user groups. But there are other benchmarks PMP®s should also consider as part of their overall mission to provide excellent service along with repeatable successful project execution.
One metric that is often a harbinger of bigger issues (and potential opportunities), but may not be officially considered a performance indicator, is the team’s average response time to stakeholder questions or other inquiries. Tracking and reviewing customer-based metrics is an important part of providing the consistent level of service that sponsors and end users expect, and should be incorporated into each evaluation of the team’s performance.
Why it matters:
- Strong communication channels contribute to a good customer experience. If the team’s response times are lagging, it may provide the group with an early indicator that they need to boost their efforts before satisfaction truly begins to suffer.
- Knowing which stakeholders are engaged when it comes to the project’s progress helps the team identify those champions who may be willing to assist if challenges arise.
- With response metrics in hand, the team can focus on the most actively involved stakeholders as they work to develop more robust relationships across their internal customer base.
Though it’s sometimes difficult to measure, another useful benchmark to track and evaluate is the efficiency and effectiveness of team meetings. This holds true whether the gatherings are held in person or are conducted by phone or video chat.
Why it matters:
- Time is one of the Project Team’s most valuable (and scarce) commodities. It’s critical the team can show it protects its time and labor resources at every opportunity.
- Inefficient and unnecessary meetings are notorious money wasters, particularly when billable hours—for vendors, technology resources, or meeting facilities—are likely to be incurred. Underperforming meeting metrics may be a signpost that the budget is poorly managed.
- Other performance measures are likely to improve when meeting productivity and participation among team members and stakeholders is consistently high.
Knowledge is a valuable asset within the Project Team, making training programs more important than ever. Not only should training standards and requirements be thoughtfully constructed, but individual participation in those training opportunities should be tracked to ensure the team’s skills remain on the leading edge of industry best practices.
Why it matters:
- Justifying expenditures for training activities is difficult without reliable data showing the benefits the team has gained from previous educational investments.
- Training can become haphazard and beneficial if the program’s performance isn’t routinely evaluated against the organization’s strategic vision.
- Demonstrating a robust commitment to ongoing training can be a key factor in attracting and retaining the best candidates.
Data breach activity is increasing in all sectors, a trend that makes security reviews crucial for any Project Team. Project teams must monitor how—and how well—access to sensitive information is controlled. This includes everything from budget data to staffing plans to building entry privileges.
Why it matters:
- Routinely reviewing and evaluating adherence to data protection protocols reinforces the organization’s culture of security and ensures everyone in the Project Team is aware of their responsibilities.
- Security threat vectors are constantly evolving. Conducting periodic reviews of the Project Team’s use of security measures and discussing emerging threats with the data security team will help the organization stay one step ahead of hackers.
PMAlliance, Inc uses a team of highly experienced and certified professionals to provide project management consulting, project management training and project portfolio management.
