What Metrics Are Important When Managing A Project?
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Quality Project Metrics
5. Customer satisfaction
This project management metric is especially relevant if you’re dealing with external clients.
However, even if you’re completing projects for your company you can still measure satisfaction with the feedback from stakeholders and the results it brings to the company.
6. Net promoter score
The main goal of this metric is understanding how likely your customer is to recommend your product to their associates or friends.
Again, NPS is great for dealing with external clients.
And it’s really simple, too! NPS is usually obtained by sending a simple survey.
7. Number of errors and customer complaints
You should closely monitor the number of errors your team has made to understand why they’ve made them.
Often, it’s not lack of expertise that causes them, but the lack of the right tools for the job.
Time Is Money: Time & Budget Project Management Metrics)
8. On-time completion and planned hours vs actual time spent
If you want to gain a better understanding of how efficient your team is, you should look at the on-time completion rate of your projects.
How often have you wrapped the projects by the due date?
You should also look at the difference between hours you’ve planned to spend on the project versus the actual time you spent working on it.
9. Number of time and budget changes
Understanding the difference between what you’ve originally planned and what turned out to be the reality is the most important thing you can do with a project metrics tracking system.
This isn’t just vital when working with external clients.
It’s also important when you need to plan out a project that requires management’s feedback.
If your stakeholders have a penchant for asking you to make magic with a $2 budget, you need to know it so you can plan ahead and succeed despite the difficulties.
10. Resource conflict
If your team is handling multiple projects at once, chances are you’re going to feel understaffed from time to time.
However, you can’t know for sure (nor can you improve anything) if you don’t measure how often the resources conflict.
How Project Management Performance Metrics Help an Unwilling Project Manager
It seems like everyone’s job includes project management these days.
And while this can get hectic, what matters is helping your team be the best professionals they can be.
Metrics can help you understand how things are going, and identify the areas where you can improve.
You don’t have to do it manually, either.
If you’re using Microsoft 365 in your company, all you need to do to unleash the full power of project management is Project Central.
A visual task and project management tool, it gives you all the information you need to say:
This is what we’re excellent at. This is what we could be more excellent at.
And your team will love you for it!
