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Measureable PM goals

By imirish247 ·
I am looking for assistance with developing measurable performance goals for a project manager.
I manager small projects in a financial institution. Launching new programs, managing integrations etc. I am at a loss as to how to document annual performance goals.
Any ideas?

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Recommendation

by BFilmFan In reply to Measureable PM goals

I would start with the book Project Management for Dummies and then look at teh PMBOK offerings.

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Measure What Matters...

by RAPace In reply to Measureable PM goals

It depends on the audience for your metrics - are you measuring your own performance as a PM or the overall success of the project. As important as what your are going to measure is HOW you are going to measure. You need to have a balance between subjective and objective metrics.

I usually use a couple of different types of metrics:

Business Metrics:
ROI
Time to market
Customer satisfaction - did I do a good job up front on requirements and did I produce functionality that the customer expected

Project Metrics
Time and Budget to-date - did I meet the customer's deadlines, did I stick with the budget
Quality - number of bugs, response time, post-production re-work

You don't need to have a ton of different metrics - just a small set that will provide a well-rounded view of project performance and highlight improvement opportunities.

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Great Advice

by silentknight In reply to Measure What Matters...

I completely agree.

Projects generally aren't taken on for their own sake. I would only expand on ROI:
1) What result(s) was the project intended to produce? A reduction in errors? reduced down time for an application? reduced processing time? Track the current results.
2) What does it cost to maintain the status quo?
3) Did the project actually achieve those results?
4) Was the solution truly cost effective?

If you don't have a reasonable answer to these, high quality (met the functionality expectations with the fewest bugs possible), on time and under budget won't mean a whole lot.

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Some Ideads for Metrics

by johnolson In reply to Measureable PM goals

I am implementing a new PMO, as part of this implementation I am putting together metrics (standard for performance measurement) to measure success. These are not specific to an individual PM. However, they may give you some ideas.

Excerpt from my PMO Charter ??
[Metrics should measure those aspects of PMO performance that are directly related to its Mission. On that basis, the following areas of focus can be used to judge PMO value:
 Does the division create a written project description for all of it?s major activities?
 Does the division have a complete and reportable listing of DPHIS projects and their overall status? Do we maintain it?
 Does the division estimate resource requirements for each project?
 Does the division have and maintain a resource plan?
 Is a process in place for the proposal, selection and authorization of projects at all levels?
 Is a process in place to track project cost information?
 Are the organization?s IT projects more successful over time?
 Is there evidence that DPHIS staff is taking a more professional approach toward management of the organization?s IT projects?
 Are the products of our projects meeting the customer?s business objectives?
 Do we measure the outcomes of projects?

The PMO will develop or acquire appropriate instrument(s) with which to obtain objective measurements. The PMO Sponsor will approve the instrument(s) before they are used. Examples:
 Measuring PM maturity using a standard Process Maturity Model.
 Improvement in project success over time can be measured through decreases in schedule and budget variances or the tone of customer comments
 Project Management approach can be measured by quality and timeliness of project planning documents, accuracy of time and cost estimates, and effectiveness at managing risk
 Customer satisfaction can be measured through post project surveys/interviews.
]
? end of excerpt.

You could turn this into an individual?s performance measure in the following way:

Do the follow you companies standard methodology at an appropriate level for the project.

Is the customer satisfied with the product delivered and the way it was delivered?

Does the project team work in cocert or conflict with the customer?

If you are a mature PM organization you could measure ROI on the project.

Etc.

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Performance goals

by lsrikanth In reply to Measureable PM goals

PM primary role is to avoid problems not to solve them when they arrive. All your performance indexes should be based on this. 2) Periodically check the health of the project.
3) how quickly the PM should read the signals(+ and -) from the project.

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