“PROJECT MANAGEMENT”

Performance measurement & Report

Group members:

1.Iram Shafeeq 13190920-0092.Hira Rameen 13190920-0463.Rabeea Shafeeq 13190920-0504.Talia Rehman 13190920-0485.Sadia Saba 13190920-0436.Kiran Shanaz 13190920-0497.Maria Qamar 13190920-0038.Saman Bibi 13190920-0019.Najma Bibi 13190920-002

Discipline : B.B.A 6TH

Submitted to: MAAM MATINA

Date of submission: 12-06-20161

Introduction…………………………………………………………………………………. 3

History………………………………………………………………………………. 3

Project performance measurement………………………………………………….. 3

Reporting …………………………………………………………………………… 3

Project management performance measure…………………………………………….. 4

Model for controlling performance………………………………………………… 6

Performance measurement………………………………………………………………. 7

How to design KPI………………………………………………………………… 8

Types of KPI……………………………………………………………………… 9

KPI for project management…………………………………………………….. 10

Area to be included in KPI……………………………………………………… 11

Selecting effective performance measures…………………………………………… 12

Ways to measure progress and performance of the project …………………………………………………………………………………………… 13

Report…………………………………………………………………………………… 15

Kinds of report…………………………………………………………………... 15

Format of the report…………………………………………………………….. 16

Content of the report……………………………………………………………. 16

Input for the report……………………………………………………………… 17

Tools and techniques for the report…………………………………………….. 18

Output for the report…………………………………………………………… 19

Sample of report……………………………………………………………………… 20

Conclusion…………………………………………………………………………… 25

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TABLE OF CONTENTS

INTRODUCTION:

HISTORY:

Performance measurement is not a new concept, but rather an old concept of renewed importance today. In 1943, the International City Management Association published an article on measuring the performance of municipal activities. During the Kennedy administration, systems analysis processes were introduced to the Department of Defense which fueled interest in performance measurement in the federal government. Other agencies began experimenting in performance measurement when the Johnson administration introduced what they called planning-programming-budgeting system (PPB). Eventually more and more state and local governments began using performance measurement to improve their management and budgeting. The use of performance measurement became a common practice in the 1970s with the introduction of new social programs that needed to be assessed.

PROJECT PERFORMANCE MEASUREMENT:

Performance measurement is to help organizations understand how decision-making processes or practices led to success or failure in the past and how that understanding can lead to future improvements. Key components of an effective performance measurement system include these:

Clearly defined, actionable, and measurable goals that cascade from organizational mission to management and program levels;

Cascading performance measures that can be used to measure how well mission, management, and program goals are being met;

Established baselines from which progress toward the attainment of goals can be measured;

Accurate, repeatable, and verifiable data; and

Feedback systems to support continuous improvement of an organization’s processes, practices, and results (FFC, 2004).

REPORTING: Project Performance Reports (PPRs) are part of the overall project performance management. system (PPMS), which encompasses all stages of the project cycle. PPRs provide information on project. implementation and progress in achieving development objectives.

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WHAT IS PROJECT PERFORMANCE MEASUREMENT?

Measuring performance is a critical factor in optimizing performance. Optimal performance is sustainably achieving multiple, often conflicting, objectives under changing conditions.

Project performance, on the surface, seems easy to measure; just track time, cost and scope and it’s done. But when we look more deeply we find that it is not that simple.

First, we find that there is confusion about what we actually want to measure. Is it the success of a single project, the success of project performance across many projects, or the success of project management and a project office? If our objective is to measure the success of a single project, are we looking at the project during its life or at the project after it has been completed?

Once we determine what we really want to evaluate we can identify the key performance indicators (KPIs) that will tell us whether we have been or are being successful or not and to what degree. KPIs give managers the most important performance information to enable them to assess the performance of a project or process. Its are as follows.

Project and Business Objectives:Keep in mind that KPIs are not objectives. They are readings that enable a manager to assess performance towards the achievement of objectives. Project objectives are to deliver goods and services, within time, cost, quality and other constraints, satisfying stakeholder expectations. Project deliverables are used to deliver benefits to satisfy the needs of sponsors and clients. When measuring project success, particularly when the project is on-going, it is necessary to focus on the project objectives and performance against schedule and budget estimates. For example, in product development the performance of sales and marketing, market conditions, and other factors impact the degree to which expected benefits are achieved.

Project Performance – Schedule and Budget:Performance measurement during a project is to know how things are going so that a secondary benefit is information that can be used to improve the planning and performance of future projects. Typical KPIs are schedule and budget compliance, number of scope changes, number of

issues and defects, and stakeholder satisfaction. For example,  A stakeholder who is budget oriented can easily get the wrong idea of project health by looking at stand alone budget data.

Quality Deliverables:To effectively measure performance it is necessary to plan so that tasks are defined in terms of specific deliverables with clearly stated requirements. The availability of an accepted deliverable is the only measure of the successful completion of a task. It is all too easy to deliver something that doesn’t work or meet requirements. For example measure the team rate of progress.

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Effort and Cost Tracking:Whether you use velocity or earned value you need to account for effort and the cost of other resources to monitor budget compliance and to estimate to project completion based on current performance. For example it is use in cultural changes.

Project Performance – Other Indicators:Other indicators, aside from schedule and budget performance, monitor the number and types of issues, changes, and/or defects and the degree to which they are quickly addressed.

PROJECT MANAGEMENT PERFORMANCE MEASURES

The purpose of performance measurement is to help organizations understand how decision-making processes or practices led to success or failure in the past and how that understanding can lead to future improvements. Key components of an effective performance measurement system include these:

Clearly defined, actionable, and measurable goals that cascade from organizational mission to management and program levels;

Cascading performance measures that can be used to measure how well mission, management, and program goals are being met;

Established baselines from which progress toward the attainment of goals can be measured;

Accurate, repeatable, and verifiable data; and

Feedback systems to support continuous improvement of an organization’s processes, practices, and results (FFC, 2004).

Qualitative and quantitative performance measures are being integrated into existing DOE project management practices and procedures (DOE, 2000). They are used at critical decision points and in internal and external reviews to determine if a project is ready to proceed to the next phase. Project directors and senior managers are using them to assess project progress and determine where additional effort or corrective actions are needed. However, DOE does not receive the full benefit of these measures because there is no benchmarking system to analyze the data to identify trends and successful techniques or compare actual performance with planned outcomes. For long-term process improvement, project performance measures and benchmarking processes should be used as projects are planned and executed as well as after they are completed.

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Figure describes a project performance control model that can be used to improve current and future projects by identifying trends and closing gaps between targeted and actual performance. Current DOE project and program management procedures such as Energy Systems Acquisition Advisory Board (ESAAB) reviews, Earned Value Management System (EVMS), Project Analysis and Reporting System (PARS), Office of Environmental Management Project Definition Rating Index (EM-PDRI), quarterly assessments, external independent reviews (EIRs), and independent project reviews (IPRs) are integrated into this model and called assessment processes.

In this model, project management processes are applied to inputs such as project resources to generate project plans, and these plans and resources become inputs for project execution. Individual projects are assessed and benchmarked against project targets and the performance of other projects. Output measures are compared with performance targets to identify performance gaps. These gaps are analyzed to identify corrective actions and improve the project as it proceeds. Once a project is completed, an assessment can be made of what worked well and where improvements in processes and project teams are needed for future projects

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 Model for controlling project performance.

 The project outcomes are assessed to develop lessons learned, which can be used as a feedback mechanism to improve policies and procedures and may drive changes in decision making and other processes.

Input, Process, Output, and Outcome Measures

Although assessment of the results of an internal process, such as project management, is much more straightforward than assessment of the results of public programs, the performance measures used can have intrinsic similarities. Performance measures for public program assessments are generally identified as input, process, output, and outcome (Hatry, 1999). Input is a measure of the resources (money, people, and time) provided for the activity being assessed. Process measures assess activities by comparing what is done with what should be done according to standard procedures or the number of process cycles in a period of time. Output measures assess the quantity and quality of the end product, and outcome measures assess the degree to which the end product achieves the program or project objectives. Assessment becomes more difficult as the target moves from input to outcome because of the influence of factors that are external to the program.

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Performance assessment model.

When project management is assessed at the project level, the input measures include the resources available and the quality of project management plans. Project process measures look at how well the plans are executed. Project output measures include cost and schedule variables, while outcome measures include scope, budget, and schedule and safety performance ” The desired outcome at the project level was “doing it right.” The committee noted that both are required for success. The committee has identified all four types of measures, combined the two approaches (program and project), and grouped the measures in terms of the primary users (program managers and project managers). This approach separates measures used at the project level from measures used at the program/departmental level and combines input and process measures and output and outcome measures.

PERFORMANCE MEASUREMENT

Performance can be measured by “KPI”

Key Performance Indicator

“A Key Performance Indicator (KPI) is a measurable value that demonstrates how effectively a company is achieving key business objectives. Organizations use KPIs to evaluate their performance at reaching targets.”

KPIs help us to measure how well companies, business units, projects or individuals are performing compared to their strategic goals and objectives. KPIs provide the vital information that gives a clear understanding of current levels of performance.

How to design KPI’s

KPIs should be clearly linked to the strategy, i.e. the things that matter the most.

KPIs have to provide the answers to our most important questions.

KPIs should be primarily designed to empower employees and provide them with the relevant information to learn

Reflective of an organization’s success factors Specific to the organization and the particular project

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KPIs are a powerful management tool to bring about organization-wide success. It can identify where more direction is needed or where incentives, plans and other resources .

How Are KPIs Evaluated

A KPI's status and score are determined by comparing its actual value against the thresholds that you define.

The performance status of a KPI is represented by the status icon or through graphs, pie chat or that you assign to each range.

Types of KPI

Process KPIs:  measure the efficiency or productivity of a business process.

Examples - Days to deliver an order.

Input KPIs: measure assets and resources invested in or used to generate business results.

Examples – Rupee spent on research and development, Funding for employee training, Quality of raw materials.

Output KPIs:  measure the financial and nonfinancial results of business activities. Examples - Revenues, Number of new customers acquired.

Leading KPI: measure activities that have a significant effect on future performance. Drive the performance of the outcome measure, being predictor of success or failure

Lagging KPI is a type of indicator that reflects the success or failure after an event has been consumed. Such as most financial KPIs, measure the output of past activity.

Outcome KPI - Reflects overall results or impact of the business activity in terms of generated benefits, as a quantification of performance.

Examples are customer retention, brand awareness.

Qualitative KPI - A descriptive characteristic, an opinion, a property or a trait. Examples are employee satisfaction through surveys which gives a qualitative report.

Quantitative KPI - A measurable characteristic, resulted by counting, adding, or averaging numbers. Quantitative data is most common in measurement and therefore forms the backbone of most KPIs. Examples are Units per man-hour

KPI for Project Management

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Key performance indicators consist of the most important performance goals across all aspects of team involvement in a project. Effective KPIs should be:

Agreed upon by all parties before the project begins Meaningful to the intended audience Quantifiable measurements that can be shared and analyzed across organizational

divisions at any time Regularly measured Directed toward the benefits the project seeks to deliver A basis for critical decision-making throughout the project Aligned with objectives Realistic, cost-effective and tailored to the organization’s culture, constraints and time

frame Unified with organizational efforts

While the scope and terms of an organization’s KPIs may differ from project to project, there are various types of data that can be helpful to any organization. Top project management benchmarking measures include productivity, cost performance, cycle time, customer satisfaction, schedule performance, employee satisfaction and alignment with strategic business goals.

Schedule PerformanceThe Schedule Performance Index is the ratio of total original authorized duration versus total final project duration. The ability to accurately forecast schedule helps meet time-to-market windows

Customer SatisfactionCustomer satisfaction means that customer expectations are met. he Customer Satisfaction Index is an index comprising hard measures of customer buying/use behavior and soft measures of customer opinions or feelings. Index is weighted based on how important each value is in determining customer overall customer satisfaction and buying/use behavior.

Cycle Time There are two types of cycle time—project cycle and process cycle. Cycle time is the time it takes to complete the project life-cycle. Cycle time measures are based on standard performance. Measuring cycle times can also mean measuring the length of time to complete any of the processes that comprise the project life-cycle. The shorter the cycle times, the faster the investment is returned to the organization. The shorter the combined cycle time of all projects, the more projects the organization can complete

Employee SatisfactionAn employee satisfaction index will give one number to look at to determine employee morale

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levels. The ESI comprises a mix of soft and hard measures that are each assigned a weight based on their importance as a predictor of employee satisfaction levels. The ESI should include the following (percentage represents weight): climate survey results (rating pay, growth opportunities, job stress levels, organizational values, benefits, workload, supervisor competence, openness of communication, physical environment

Alignment to Strategic Business GoalsMost project management metrics benchmark the efficiency of project management—doing projects right. There also need a metric to determine whether or not organization is working on the right projects. Measuring the alignment of projects to strategic business goals is such a metric. It’s determined through a survey of an appropriate mix of project management professionals, business unit managers, and executives. Use a Likert scale from 1-10 to rate the statement

ProductivityProductivity is output produced per unit of input. Productivity measures tell whether organization getting its money’s worth from its people and other inputs to the organization. Productivity can be measured through number of projects completed per employee, number of lines of code produced per employee. Selecting the right productivity measures is to ask whether the output being measured which have value to your organization’s customers.

AREAS TO BE INCLUDED IN KPI’S

Deviation of Planned BudgetFind out the reasons how, where and why project budget deviated is important in tracking down waste and inefficiency, as well as for planning better for the unforeseen challenges in future.

Deviation of Planned Hours of WorkFind out which teams had to go above and beyond can help build a meaningful incentive and reward program, as well as improve time allocation planning.

Percentage of Milestones Missed Identifying milestones and achieving goals are important to maintaining project progress . When too many milestones are not achieved or are shifted, employees may feel frustrated. Identifying when milestones are missed can help restart a project and resolve similar problems in the future.

Cost VarianceKeeping accurate records related to cost variance can provide a detailed profile of which teams and processes are most efficient. It can also help to decide whether a project was worth the investment and assist managers in deciding whether to initiate similar projects.

Example of key performance indicator:

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The main five KPI’s in Infrastructure sector are:

Client Satisfaction.

Construction Time & Cost.

Productivity.

Defects.

Profitability.

There are some other ways to measure the performance of a project management. These are as follow:

1. Punctuality2. Quality of work3. Observe personal habits4. Check their attitude5. Carry out a client survey6. Carry out random check7. Management by Objectives8. Measuring Productivity Quantitatively9. 360-Degree Feedback10. Measuring Sales Productivity11. Measuring Service Productivity12. Measuring Time Management Productivity13. Measuring Productivity by Profit14. Measuring the Quality of Tasks Completed  

SELECTING EFFECTIVE PERFORMANCE MEASURES

The measurement of performance is a tool for both effective management and process improvement. The selection of the right measures depends on a number of factors, including who will use them and what decision they support. For example, the airline industry has used on-time arrivals and lost bags per 1,000 as output measures, but to improve efficiency, procedures and processes are measured and analyzed in more detail by the airport ramp manager. Measures such as the time from arrival and chock in place to cargo door opening, the number of employees required and present for the type of aircraft, and whether the runner at the bottom of the conveyer is in place when the door is opened provide the information needed to improve efficiency and effectiveness.

DOE should adopt performance measures suggested by the committee or other measures that have the following characteristics

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1. Measurable, objectively or subjectively;2. Reliable and consistent;3. Simple, unambiguous, and understandable;4. Verifiable;5. Timely;6. Minimally affected by external influence;7. Cost-effective;8. Meaningful to users;9. Relate to mission outcome; and10. Drive effective decisions and process improvement.

The effectiveness of performance measures is also influenced by how well they are integrated into a benchmarking system. The system needs to be both horizontally and vertically integrated. That is the measures need to be balanced to provide a complete assessment of the management of a project and be combinable across projects to assess the performance of the program and across programs to assess the impact of department-level policies and procedures. If any organizational entity can identify a measure that has meaning and identity throughout an organization, such a measure is very valuable and should be the goal of performance measure development.

Tables include 30 performance measures. Taken individually, these measures lack robustness, but when they are analyzed as a group they provide a robust assessment of the individu variability and dependency of the performance measures. The adequacy of each performance measure individually is also limited, but combined they provide an assessment of the overall quality of project management for individual projects as well as the overall success of programs and the department. If the metrics are applied consistently over time and used for internal and external benchmarking, they will provide the information needed for day-to-day management and long-term process improvement.

Ways to Measure Project Progress And Performance:

1. Units Completed

The Units Completed lends itself well to tracking tasks that are done repeatedly, where each iteration can easily measured. Usually a task that is done repeatedly tends to take about the same amount of time, resources and effort, so tracking the units completed works well here. A simple example could be installing standard light fixtures. Each fixture takes roughly the same amount of time; if we had 100 fixtures to install then we can simply count the units installed. In this case there’s no subjective experience-based judgement involved.

2. Incremental Milestones

Also known as the ‘steps’ method, the incremental milestones method is predominantly used for cost accounts that involve subtasks that need to be completed in an orderly fashion. An example

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of this technique is the forming and placing of a concrete foundation wall. Laying the foundation wall on footings, erecting inside wall panels and brace, setting horizontal and vertical rebar in formwork and so forth needs to be done in sequence to complete the task appropriately.

 3. Start/Finish

This method is only focused on capturing the starting point and the finishing point of the task and nothing in between. This method is best for tasks that are short in duration. You would implement this method if the task’s work estimations are not available or if the percent complete progress data is too difficult to collect.

 “Classic examples include testing services such as load test on electric panels, flushing and cleaning of piping, and similar tasks “

Often, companies agree to use the standard 50/50 Rule or other rules:

50/50 Rule – once started, the task is marked as 50% complete, and the balance is earned at final completion of the work.

20/80 Rule – used to track higher value tasks that takes a longer time to reach completion.

0/100 Rule – this rule illustrates that once 100 percent of the task is completed, only then will the value be earned. An example of this is in testing or experimental tasks since you cannot get results until the task is completed.

4. Cost Ratio

The Cost Ratio method is usually implemented on a project that has tasks that tend occur over a long phase or the entire project. Often used for Overhead costs, this technique is measured based on the budgeted allocation of dollars vs. the labour hours of production. This method gives the contractor the ability to earn value that is equal to the overall percent of project completion.

“For example if the overall progress of the project was determined to be 42 percent, then the contractor would have earned 42 percent of the overhead and fees.”

5. Experience/Opinion

Unlike the methods above that rely on definitive data, this method is relies on the experience and subjectivity of the project manager. This technique is used for tasks such as dewatering or frost removal/protection. It’s not usually recommended and tends to be seen as the last resort because each individual’s experiences and opinions vary from one another and can cause conflict between owners, contractors and architect.

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6. Weighted or Equivalent Units

This method was highlighted as the best technique in the text and is the one that requires more effort, but also extends to a wider data range. The tasks that are being calculated tend to occur over a longer duration time and includes multiple subtasks, where subtasks can have different units of measurements.

The example used to illustrate this method is building a structural steel package. In order to complete this project it requires various units, labor hours, resources and subtasks. So to calculate the subtasks, it’s weighted on the estimated level of efforts in labor hours or by monetary value that is particular to each subtask. Once the weighted value is determined, it’s converted to reflect that value in units of measure specific to the task – and for this example, the units of measure would be tons. So once each subtask has been completed, the weighted tons (units of measure) is then converted to the equivalent units of percentage complete of the overall project

These 6 methods for measuring project progress are commonly used in Construction project management and filter into a process of determining a percentage complete for the project as a whole using Earned Value Management

Report:The Project Final Report incorporates the process knowledge gained from the project. In

addition to preservation of project records, the Final Report embodies the experience from which we learn.

A detailed statement that measures the results of some activity in terms of its success over a specific time frame. Project managers need to monitor and control projects to ensure completion within the scope of defined budgets, forecasts, and schedules. Project performance reporting provides you with an at-a-glance comparison of actual versus planned performance as defined in project budgets and forecasts.

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Performance reporting is an important activity in project communication management. It involves collecting and disseminating project information, communicating project progress, utilization of resources, and forecasting future progress and status to various stakeholders, as decided in the communication management plan. Fundamentally, performance reports are comparisons of project performance to the project performance baseline.

The reports should include:

Project performance comments Administrative performance comments Organizational structure comments Personal suggestions, possibly a confidential section

Reports kinds:

Status Reports

For describing actual status

Progress Reports

For describing the trends from past to present

Forecasting Reports

For describing future trends

Variance Reports

For describing difference between the planned baseline and the real data

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Trend Reports

For comparison between the current performance of the project and the last performance of the project during same time duration. 

Format of Report

During the process of performance reporting, the work results of other processes are also analyzed and combined into performance reports. They are typically done in tabular or graphical formats. These reports can be a text based, visual based, or most often a combination of both. The various formats these reports can take are Bar charts, S-Curves, Histograms, Tables etc.

Content of the report

The content of the performance reports includes,

Percentage of the work completed during the reporting period Balance of the work to be completed Cost incurred during the reporting period Balance of funds available Balance of time available Major risks that have occurred, or passed without occurring Major remaining identified risks Results of variance analysis: e.g. schedule variance and cost variance Performance indexes: e.g. schedule performance index and cost performance index Forecasted fund required to complete the remaining work (if the project cost is overrun or

under run) Forecasted time required to complete the remaining work (if the project is delayed or ahead

of schedule) Summary of major approved change requests during the reporting period etc.the formal name for the process used for performance reporting is report performance.

Report performance process was input to the following processes

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project management plan Work performance information Work performance measurements Budget forecast Organizational Process Assets

1. Project Management Plan 

The Project Management Plan provides information on project baselines. The project deviations, which are reported in performance reports, are compared against the project performance baseline. The performance measurement baseline typically integrates the scope, schedule, and cost parameters of the project, but may also include technical and quality parameters.

2.  Work Performance Information (WPI)

This is the information that is obtained from project activities, which is then collected on performance results such as –

Deliverables status Schedule progress Cost incurred

For example, MS Project allows you to send work packages as tasks to MS Outlook users, and when they complete a task, this would be incorporated into the MS Project plan.

3. Work Performance Measurement

Work Performance Information is used to generate project activity metrics to evaluate actual progress compared to planned progress. These metrics include –

Planned versus actual schedule performance Planned versus actual cost performance Planned versus actual technical performance

4.  Budget Forecasts

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Budget Forecasts provide information about the funds that are required to complete the remaining project work, as well as total fund estimates for the completion of project work. Organizational Process Assets –

The Organizational Process Assets that is used during the reporting of project performance includes, but is not limited to –

Report Templates. Policies and procedures that defines the measurement indicators to be used. Organizationally defined variance limits.

Tools and Techniques for Performance Reporting

Tools and techniques used in performance reporting include

Communication methods

Variance analysis

forecasting technique

reporting systems

Output of Performance Reporting

The immediate objectives (i.e., the project’s purpose in the logical framework) are the pillars of project design. These are the expected results to be achieved soon after project completion. For example, if the intermediate objective is for “small farmers to increase yield,” a quantified target could be for “10,000 small farmers to increase yields by 30 percent, while maintaining the baseline harvest quality, within five years.”Performance reports are an obvious output of performance reporting. The full list of outputs from this process is:

Project performance report

Change request

Updates to organizational process assets

1-Project performance reports 

Performance reports present relevant information from work performance data and performance measurements in a suitable format. The relevancy and suitability depend on the audience; the stakeholders that are the consumers of these reports.

2- Change requests 

Measuring and communicating performance may generate change requests, which must be processed through integrated change control before implementation. For example, performance

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reporting may expose that certain aspects of the project are not on the right track or the project is not performing as expected by the stakeholders. The forecasting may expose danger ahead. All this can generate recommendations for corrective and preventive actions.

3-Updates to organizational process assets 

During performance reporting, there will be lots of revelations by performance measurements and feedback from the stakeholders. This will result in updating the organizational process assets, such as lessons learned.

SAMPLE REPORT

WORK PERFORMANCE REPORT

Performance Analysis

Responsible Task Manager Completes

Project Manager Completes

Cost/Schedule Data Cost Performance Schedule Performance

WBS Task

Percent Complete

Weeks to Complete

Expense $/Week

Planned Value (PV)

Earned Value (EV)

Actual Cost (AC)

Cost

Variance (CV)

Cost Variance Percentage (CVP)

Cost Performance Index (CPI)

Schedule Variance ($) (SV)

Schedule Variance Percentage (SVP)

Schedule Performance Index (SPI)

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The performance reporting process involves the periodic collection and analysis of baseline versus actual data to understand and communicate the project progress and performance as well as to forecast the project results.1

Performance Analysis

Responsible Task Manager Completes

Project Manager Completes

Cost/Schedule Data Cost Performance Schedule Performance

WBS Task

Percent Complete

Weeks to Complete

Expense $/Week

Planned Value (PV)

Earned Value (EV)

Actual Cost (AC)

Cost

Variance (CV)

Cost Variance Percentage (CVP)

Cost Performance Index (CPI)

Schedule Variance ($) (SV)

Schedule Variance Percentage (SVP)

Schedule Performance Index (SPI)

          

     

     

          

     

     

     

     

     

     

     

          

     

     

          

     

     

     

     

     

     

     

          

     

     

          

     

     

     

     

     

     

     

          

     

     

          

     

     

     

     

     

     

     

          

     

     

          

     

     

     

     

     

     

     

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Responsible Task Manager Completes

Project Manager Completes

Cost/Schedule Data Cost Performance Schedule Performance

WBS Task

Percent Complete

Weeks to Complete

Expense $/Week

Planned Value (PV)

Earned Value (EV)

Actual Cost (AC)

Cost

Variance (CV)

Cost Variance Percentage (CVP)

Cost Performance Index (CPI)

Schedule Variance ($) (SV)

Schedule Variance Percentage (SVP)

Schedule Performance Index (SPI)

          

     

     

          

     

     

     

     

     

     

     

          

     

     

          

     

     

     

     

     

     

     

          

     

     

          

     

     

     

     

     

     

     

          

     

     

          

     

     

     

     

     

     

     

          

     

     

          

     

     

     

     

     

     

     

          

     

     

          

     

     

     

     

     

     

     

               

                                   

     

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Responsible Task Manager Completes

Project Manager Completes

Cost/Schedule Data Cost Performance Schedule Performance

WBS Task

Percent Complete

Weeks to Complete

Expense $/Week

Planned Value (PV)

Earned Value (EV)

Actual Cost (AC)

Cost

Variance (CV)

Cost Variance Percentage (CVP)

Cost Performance Index (CPI)

Schedule Variance ($) (SV)

Schedule Variance Percentage (SVP)

Schedule Performance Index (SPI)

      

                    

          

     

     

          

     

     

     

     

     

     

     

          

     

     

          

     

     

     

     

     

     

     

          

     

     

          

     

     

     

     

     

     

     

          

     

     

          

     

     

     

     

     

     

     

Totals     

     

          

     

     

     

     

     

     

     

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Responsible Task Manager Completes

Project Manager Completes

Cost/Schedule Data Cost Performance Schedule Performance

WBS Task

Percent Complete

Weeks to Complete

Expense $/Week

Planned Value (PV)

Earned Value (EV)

Actual Cost (AC)

Cost

Variance (CV)

Cost Variance Percentage (CVP)

Cost Performance Index (CPI)

Schedule Variance ($) (SV)

Schedule Variance Percentage (SVP)

Schedule Performance Index (SPI)

Estimate at Completion (EAC):

      Task Manager:

     

Budget at Completion (BAC):

      Project Manager:

     

Variance at Completion (VAC):

      Project Office Use Only:

Date:

Time:

     

     

Analysis and Discussion

In the space provided below, discuss the current cost and schedule variances and the effects of those variances on the project baseline. Use the revised EAC to show the impact of current variance on total estimated project budget and project completion date.

     

CONCLUSION:

For a project to be successful it is crucial to have reliable performance measurement and reporting system. Otherwise no project stakeholders will know what the project status it. For a effective project it is essential to measure the progress of the project against the project plan.

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Effective performance measurement helps to identify the variance. These are some tools which give a good overview of all status of project. Performance Reports give stakeholders the information on how project is progressing in the form of well-organized and summarized reports, at a level of detail that they require. For this purpose first we measure and performance level at organization then we report the performance to satisfied the client/customers performance measurement and repot should be relevant to project

Project managers can use KPIs not only as a performance management tool, but also as a motivational tool. When all teams are united with common goals, their individual contributions can shine. Team competition, incentives and rewards can be a powerful motivating tool to keep project momentum pushing forward. Using quantifiable and consistent KPIs can help project managers assess project goals in an objective, fair and powerful way.

Project performance and success isn’t always easy to measure. Harnessing the power of a strong key performance indicator strategy can help project managers lead their teams to higher standards, greater goals and successful projects. 

REFERENCES

DOE (U.S. Department of Energy). 2000. Program and Project Management for Acquisition of Capital Assets (Order O 413.3). Washington, D.C.: U.S. Department of Energy.

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EOP (Executive Office of the President). 1998. A Report on the Performance-Based Service Contracting Pilot Project. Washington, D.C.: Executive Office of the President.

FFC (Federal Facilities Council). 2004. Key Performance Indicators for Federal Facilities Portfolios. Washington, D.C.: The National Academies Press.

Hatry, H. 1999. Performance Measurement: Getting Results. Washington, D.C.: Urban Institute Press.

http://www.simplilearn.com/performance-reporting-article http://pmstudycircle.com/2012/03/performance-report-in-project-management

. http://www.nap.edu/read/11344/chapter/4

https://en.wikipedia.org/wiki/Performance_measurement: https://www.projecttimes.com/george-pitagorsky/measuring-in-progress-project-

performance.html References http://www.floridatechonline.com/resources/project-management/key-performance-

indicators-in-project-management/#sthash.MJtuvvwJ.dpuf  http://www.slideshare.net/speedcars/key-performance-indicator-11582069?qid=b96af4f9-

f1cc-4b6b-b681-6f5734a8e5df&v=&b=&from_search=4 • Center for Business Practices (www.cbponline.com) • Performance Measurement Association (www.som.cranfield.ac.uk/som/cbp/pma/) • American Productivity and Quality Center (www.apqc.com) • Benchmarking Performance Improvement Resources (www.bpir.com) • Performance-Measurement.net (www.performance-measurement.net) • Project Management Institute (www.pmi.org)

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