Project Metrics

Project Metrics

Project Metrics Jonathan Poland

Project metrics are methods for measuring the progress and performance of a project. They are typically tracked continuously in order to provide management with information that can be used to steer and manage the project. Many project metrics reveal whether a project is on schedule and budget, while others measure secondary factors such as risk. By using project metrics, organizations can monitor the status and performance of their projects and make informed decisions about how to allocate resources and address any issues that may arise. The following are common project metrics.

Actual Cost
The total expenditures of a project or activity to date.

Defect Density
The number of defects expressed as a ratio to complexity. For example, defects per thousand lines of code is a common measure of defect density. Used as an indicator of deliverable quality.

Defect Resolution Rate
The percentage of defects that are currently resolved, often reported by defect severity. Used as an indicator of release quality.

Cost Performance Index
The ratio of earned value to actual cost. Measures the percentage of expenditures that have achieved a deliverable.

Cost Variance
The amount that a project is over or under budget at a point in time. Calculated as earned value – actual cost.

Design Stability
The number of change requests that have required design or architecture changes.

Earned Value
Earned value is the budget authorized for work completed. It is used to measure how much you have delivered to date as a financial figure.

Estimate To Complete
Estimate to complete is the cost required to complete the remaining work for a project or activity at a point in time.

Estimated Time To Complete
The estimated time required to complete the remaining work for a project or activity.

Milestone Achievement
The percentage of project milestones that are met successfully.

Payback Period
The amount of time for an investment in a project to break even, often expressed in months.

Percent Complete
An estimate of the currently completed portion of work for activities and the project as a whole.

Project Velocity
The amount of work that a team completes in a sprint often measured in story points. A common agile metric.

Requirements Volatility
The sum of all changes to requirements including new, changed and dropped requirements. Often expressed as a percentage of the original number of requirements. For example, if there are 20 changes and there were 100 original requirements, requirements volatility is (20/100)*100 = 20%.

Resource Utilization
The percentage of available hours for assigned resources that are currently being charged to project activities. A figure over 100% indicates overtime.

Return On Investment
The projected return for a project investment.

Risk Exposure
The total risk the project currently faces after risk treatment. Project risk is typically modeled with risk matrices. It is calculated as the sum of all probabilities × impacts for identified risks.

Risk Management Effectiveness
The percentage of project issues that were identified as risks and managed in advance of the event.

Schedule Performance Index
The ratio of earned value to planned value.

Schedule Variance
The difference between committed dates and actual dates in days.

Scope Changes
The number of change requests that have resulted in a change to scope. An indicator of project stability.

Story Points
The number of story points yet to be completed. Commonly used to measure epics and sprints for agile projects. Typically depicted on a burn down chart that plots outstanding story points versus time.

Variance At Completion
The budget surplus or deficit at completion of a project.

Intangible Assets Jonathan Poland

Intangible Assets

Intangible assets are non-physical assets that have monetary value and are expected to generate economic benefits for an organization. They…

Brand Perception Jonathan Poland

Brand Perception

Brand perception refers to the way that a brand is perceived by its target audience. It’s important for companies to…

Barter Jonathan Poland

Barter

Barter is a system of exchange in which goods or services are traded for other goods or services, rather than…

Risk Management Process Jonathan Poland

Risk Management Process

Risk management is the practice of identifying and mitigating potential risks that could result in financial losses or other negative…

Action Plan Jonathan Poland

Action Plan

An action plan is a detailed strategy that outlines the steps and resources needed to achieve a specific goal. It…

Final Offer Jonathan Poland

Final Offer

A final offer, also known as a best and final offer, is a negotiation tactic in which a party submits…

Pricing Strategy Jonathan Poland

Pricing Strategy

Pricing strategy is the process of determining the right price for a product or service based on market conditions, business…

Bottleneck Jonathan Poland

Bottleneck

A bottleneck refers to a point of constriction or reduction in capacity that can limit productivity, efficiency, or speed. It…

Job Titles Jonathan Poland

Job Titles

Job titles are brief labels that are used to describe the duties, goals, and expectations of a job. Some companies…

Learn More

What is an Economic Bad? Jonathan Poland

What is an Economic Bad?

An economic bad refers to a negative outcome or impact that results from business activity and consumption. This is in…

Mission Statement Jonathan Poland

Mission Statement

A mission statement is a statement of purpose that defines the goals and values of an organization. It is a…

Capital Improvements Jonathan Poland

Capital Improvements

Capital improvements are investments in new assets or the improvement of existing assets that are intended to provide a long-term…

Continuous Production Jonathan Poland

Continuous Production

Continuous production is a method of manufacturing in which materials and parts are continuously processed and kept in motion or…

Financial Controls Jonathan Poland

Financial Controls

Financial controls are the policies, procedures, and processes that an organization puts in place to manage and protect its financial…

Accountability Jonathan Poland

Accountability

Accountability refers to the responsibility of an organization or individual to provide explanations for their actions and accept responsibility for…

Time To Value Jonathan Poland

Time To Value

Overview Time to Value (TTV) is a business concept that refers to the period it takes for a customer to…

ERG Theory Jonathan Poland

ERG Theory

ERG theory is a motivational theory that was developed by Clayton Alderfer. It is an extension of Maslow’s hierarchy of…

The World’s Biggest Customer 150 150 Jonathan Poland

The World’s Biggest Customer

the U.S. government is the world’s biggest customer, spending over $6 trillion annually on goods and services. Here are some…