Week 6 Assessing Project Performance

Week 6 Assessing Project Performance - it These tools and...

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Any organization that manages projects must have some kind of a plan going in. The plan may be no more than a loosely defined list of major activities or deliverables along with a rough idea of how long it will take and how much it will cost to complete them. Monitoring progress may be as simple as getting a verbal update from the team during regularly scheduled status meetings. This situation, although quite common, eventually becomes unacceptable. The monitoring process will keep the team focused on getting the work done but it will not provide a timely indication that a change in direction may be needed to ensure success or avoid failure. In fact, whether the project effort was worthwhile or whether it met time and cost expectations can remain unanswered questions until after the project has completed. Recognition of this problem usually results in a search for tools and techniques to help resolve
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Unformatted text preview: it. These tools and techniques invariably involve measuring key status indicators during the life of the project. Unfortunately, the indicators most commonly selected are misleading. (Nisenboim, 2006) Example number one is basic information metrics that would include information such as: % of work complete, % of budget used, and timeline versus project development. Example number two is reliable metrics and that is where the actual phase of the project is compared against the timeline in the planning stage. Example number three is project health assessment, and this is where the life of the project development is directly measured against the budget and the timeline for the purpose of giving management the added benefit of true project phasing. Nisenboim, S. (2006, January). Project Tracking: Are you using the right metrics? Retrieved April 10, 2009, from Iime Tiger: http://www.timetiger.com...
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This note was uploaded on 03/07/2010 for the course IT 221 taught by Professor Newell during the Spring '09 term at University of Phoenix.

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