Unit 15: Project Management KPIs

KPI (Key Performance Indicator)

Critical variables measured to assess project performance (e.g., budget, milestones).

Metric

Generic measurement, while KPIs are specific and tied to project success.

Anatomy of a KPI

Comprises KEY (critical to success), PERFORMANCE (appraisal), INDICATOR (quantifiable measure).

SMART Rule

Criteria for KPIs: Specific, Measurable, Attainable, Relevant, Time-based.

Planned Value (PV)

Budgeted cost of scheduled work; compares planned vs. actual progress.

Actual Cost (AC)

Total spent on a project to date (also called ACWP).

Return on Investment (ROI)

Measures project profitability (benefits vs. costs).

10/80/10 Rule

Guideline for KPI selection: 10% RIs, 80% PIs, 10% KPIs.