5 Ways to Improve Performance Metrics

Here are five ways you can create specific, measurable, and attainable metrics for your project management plans.

Performance Metrics are used by Project Managers to encourage process improvement, effectiveness, and better ways to manage process controls.

Performance Metrics: How To Define

In order for management to make decisions, data is critical. Data shows helps you define your benchmarks, and also define forecasts for improving upon baselines for continued company expansion and growth.

Team Performance Metrics

You can define Team performance metrics as ways to measure how successful your team has achieved its performance. Instead of measuring an employee's performance, you can focus instead on the team's overall performance.

As a project manager, you can also measure and gauge the success of other parallel projects and use this data to create benchmark.

Engineering Performance Metrics

You can then move on to defining metrics for engineering performance. Examples of what you might include here are the percent of drafting errors, errors in cost estimates, number of off-specifications approved, the ability to meet customer expectations, and the time to correct a problem.

Individual Performance Metrics

This leads us to how to manage, estimate and assess individual performance metrics. You can do this by focusing on how well an individual performs in relation to specific goals, company wide objectives, understanding of customer needs, and other targets you specified for the individual.

This will help you - and those who work in HR - to assess how well they have performed, for example, during annual reviews and appraisals.

Logistic Performance Metrics

The final step is to examine how to optimize your Supply Chain performance. Develop metrics that help you improve the logistics management of your Supply Chain and allow for greater cross department efficiencies.

To do this identify the metrics that you want to use, understand the meaning of these metrics, learn the mechanics behind the measurements, identify weakness or areas of improvement in your current processes, set goals based on improvement areas, put corrective action in place to improve your processes, and monitor your results.

Question: did your corrective actions yield your desired results? If so, what can you improve next?

Or, if not, identify the root cause of your undesired results.

Project Management Tutorials:

• 10 Truths for Successful Project Management

• Scope Triangle

• Critical Path

• The Mythical Man Month

• Defining the Project Scope

• Scope, Visions and Goals

• Using Project Goals to Filter Requirements

• Difference between a Business Case and Project Proposal?

• Return on Investment

• Requirements Specifications

Project Management Templates

Here are some Project Management templates you can get on our partner's site.

	The Change Management Kit provides the documentation required to control changes to the scope, deliverables and resources within the project. The Change Request template allows staff to raise a change request within the project.
	The Project Planning Kit provides you with all of the project management templates, documents and forms required to plan a project by helping you to schedule time, cost and resources.
	The Quality Management Kit includes a suite of templates used to assure and control the quality of deliverables within a project.
	Project Initiation Kit Start a new project by documenting a business case, undertaking a feasibility study, defining the project scope, recruiting key staff and locating them within a project office.
	Project Execution Kit Manage time, cost, quality, change, risks and issues during the execution of your project, as well as supplier procurement and customer acceptance.
	Project Closure Kit Helps close your project by handing over deliverables and documentation to the customer, terminating supplier contracts and releasing resources back to the business.