KPIs and Critical Success Factors (CSFs)
In Section 4.6 of the textbook, Kerzner (2017) sates Without a good understanding of a KPI, project managers may end up with an improper selection process that works as follows:
- Everything that is easy to measure and count is identified.
- Sophisticated dashboards and reporting techniques for everything that is easy to measure and count are developed.
- Then project managers struggle to determine what to do with the information. Kerzner (2017) adds The nature of the project together with the agreed-upon definition of success and the CSFs determine which KPIs to use (p. 139).
For this assignment:
- Interview someone you know who is currently working on a project (fictional).
- Discuss the project success factors, what has been accomplished to date, what is left to be done, and what your interviewee thinks might increase performance on the project.
- Find out what types of metrics are being used and if, in the opinion of the interviewee, they are useful.
In your written paper, consolidate what you learned in your interview and provide a synopsis of the information in less than one page. The interviewee may remain anonymous if requested. While the interviewee may remain anonymous, the organization should be an actual one with which you are familiar and noted in the paper. In the remainder of the paper, suggest whether the metrics being used are KRIs, RIs, PIs, or KPIs, and why, and if you were to recommend a change to more effectively report on the project what KRIs, RIs, PIs, or KPIs would you suggest.
Paper Requirements:
- Be sure to properly organize your writing and include an introductory paragraph, headings/subheadings for the body of your work, discussion recommendations, and a conclusion.
- Format your entire paper in accordance with the APA format.
- Your paper should be at full 5 five pages. The page count does not include the required title page and reference page, nor does the page count include any supplemental pages, should you use them, such as appendices.
- Prepare your work using at least one of this week’s required readings and one outside reference (a peer-reviewed scholarly article published in the past five years).
Chapter 4 in Project management metrics, KPIs, and dashboards: A guide to measuring and monitoring project performance
Presentation for Chapter 4 from Project management metrics, KPIs, and dashboards
Part 2 Section 5.9 in the PMBOK Guide
Cruz Villazn, C., Sastoque Pinilla, L., Ramn Otegi Olaso, J, Toledo Gandarias, N, & Lpez de Lacalle, N. (2020). Identification of key performance indicators in project-based organisations through the lean approach. Sustainability, 12(5977), 5977. https://doi.org/10.3390/su12155977
Unterhitzenberger, C., & Bryde, D. J. (2019). Organizational justice, project performance, and the mediating effects of key success factors. Project Management Journal, 50(1), 57-70. https://doi.org/10.1177/8756972818808984
Kerzner, H. R. (2017). Project management metrics, KPIs, and dashboards: A guide to measuring and monitoring project performance (3rd ed.). John Wiley & Sons.
Project Management Institute. (2017). A guide to the project management body of knowledge (PMBOK Guide) (6th ed.).
The Association for the Advancement of Cost Engineering [AACE International] (2019). Recommended practice No. 10S-90 cost engineering terminology. https://web.aacei.org/docs/default-source/rps/10s-90.pdf?sfvrsn=28
