The Need for Metrics – Measuring the Ongoing Value of a Project

The Need for Metrics – Measuring the Ongoing Value of a Project

Establishing metrics that measure the project´s value, both during execution and at the end of the project, is critical. Also, the true value of the project may not be known until well after the project has been completed. Executives, clients and stakeholders today are re-thinking the definition of project success. While time and cost considerations are still important, emphasis must also be placed upon the value that the project will deliver. Establishing metrics that measure the project's value, both during execution and upon completion, is critical. The true value of the project may not be known until well after the project has been completed.

Each value metric is project-specific and requires different value attributes as selected by the project manager, client, and stakeholders, at the onset of the project. Bear in mind, it is possible that agreement on the value metric(s) may not be reached. In such cases, different value metrics may be required for each individual dashboard audiences. In the near future, each project team will have a specialist assigned with expertise in dashboard design.

This and other IIL Learning in Minutes presentations qualify for PDUs. Some titles, such as Agile-related topics may qualify for other continuing education credits such as SEUs, or CEUs.