Unit 15: Project Management KPIs

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BSS 310

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8 Terms

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KPI (Key Performance Indicator)
Critical variables measured to assess project performance (e.g., budget, milestones).
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Metric
Generic measurement, while KPIs are specific and tied to project success.
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Anatomy of a KPI
Comprises KEY (critical to success), PERFORMANCE (appraisal), INDICATOR (quantifiable measure).
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SMART Rule
Criteria for KPIs: Specific, Measurable, Attainable, Relevant, Time-based.
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Planned Value (PV)
Budgeted cost of scheduled work; compares planned vs. actual progress.
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Actual Cost (AC)
Total spent on a project to date (also called ACWP).
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Return on Investment (ROI)
Measures project profitability (benefits vs. costs).
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10/80/10 Rule
Guideline for KPI selection: 10% RIs, 80% PIs, 10% KPIs.