It is award show season, for movies, for music, and for… metrics. That is what Kevin Korterud decided anyway. When it comes to metrics that measure project volatility, Korterud has decided that a few of them really shine. So in a post at Voices on Project Management, he presents three awards. Hold your applause till the end.
- Best Supporting Traditional Metric: Schedule Performance Indicator (SPI)
- Best Supporting Emerging Metric: Functional Progress Metrics
- Best Metric for 2018: Planned vs. Actual Deliverables
About SPIs, Korterud says this:
The true power of SPI comes into play when selecting a method for earned value accumulation. Assuming work plans are at a level of granularity where task progress can be measured within a two to four week window, a conservative earned value scheme such as 0%/100%, 25%/75% based on task start and completion is a very objective means of calculating progress.
With these conservative schemes, you capture value when the tasks have started (when resources are truly free to work on tasks) and whether the task has been completed (usually with acceptance of completion by a project manager or stakeholder).
Next, functional progress metrics cast a wide net, from project burndown to test case performance. Part of their value lies in delivering valuable information about progress without becoming especially intrusive to record. And because they record information at such a low level, they make it possible to identify issues sooner than would have been revealed by a work plan.
Lastly, the value of planned versus actual deliverables is that it is inarguable. Regardless of other factors, planned versus actual deliverables is going to send an honest message about progress.
You may now clap and cheer until your hands and throat hurt. What metrics would you nominate for an award in your organization? Let us know! And you can view the original post here: https://www.projectmanagement.com/blog-post/38155/Award-Winning-Metrics-For-2018-