Scenario
The project you are managing is far enough along that you can begin to evaluate its performance. To do this, you will need to identify the four main types of Key Performance Indicators (KPIs): timeline, budget, quality, and effectiveness. By creating KPIs, you can understand the variance between the plan and the actual. Remember, not all variances are bad; remember to explain why there are variances and how to progress forward.
Instructions
Explain each type of KPI and develop a template for each one of the indicators.
Create a comprehensive KPI template for the budget.
The budget must include all aspects of what has been budgeted, such as salaries and materials.
Explain what the KPI measures.
Identify if the budget matches the actuals and the reasons for the variances within the budget.
Create a comprehensive KPI template of the milestone timeline.
Include the different aspects of the milestones and when they should be started, completed, and variance.
Explain the reason for the variances on the timeline and why that time was allocated for each milestone.
Create a comprehensive KPI template based on stakeholder satisfaction.
Identify a way to measure the satisfaction of internal and external stakeholders.
Explain techniques that can be used to increase satisfaction.
Create a comprehensive KPI template-based risk management effectiveness for each milestone.
Identify if the risks have been mitigated.
Explain in detail how you have mitigated the risk or how the risk was not mitigated.