“A project manager has the responsibility of the planning, procurement and execution of a project, in any undertaking that has a defined scope, defined start and a defined finish; regardless of industry. Project managers are first point of contact for any issues or discrepancies arising from the project in an organization before the problem escalates to higher authorities. Project management is the responsibility of a project manager. This individual seldom participates directly in the activities that produce the end result, but rather strives to maintain the progress, mutual interaction and tasks of various parties in such a way that reduces the risk of overall failure, maximizes benefits, and minimizes costs.” These are the four categories under which you should be thinking about your project management KPIs. We have listed the categories and a simple definition below:
- Timeliness: This is making sure your project is done on time—and if it’s not, tracking where it’s off-target is important so you can always have an estimated completion date.
- Budget: Are you going to stay under the budget you’ve allocated, or is the project exceeding costs?
- Quality: How well has the project progressed? Are those working on it or benefitting from it satisfied?
- Effectiveness: Are you spending your time and money appropriately, or could you be managing the project more effectively?
- The owners /stakeholders may have there own KPIs
- Builders may align KPIs to the project/ contract timeframes
- Project Managers align KPI to the project/ contract timeframes as well as client stakeholders interests to ensure expected outcomes while remaining objective to project outcomes and project competition
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