A project metric is defined any data
that may be mapped by a function of math.i
Functions used upon these metrics include; Measurement, Comparison,
Analysis, Synthesis, Estimation and Verification.
Performance metrics are defined as any
metrics that are used to derive value for a given system under
scrutiny, these include financial metrics, intangible projections and
EVM related data.ii
The process of generating metrics consists of defining requirements
for measurement, and developing the measures to determine if said
requirements are met as well as establishing well defined targets to
measure against.
Methods used to create these metrics
include project charting using earned value management, the use of
performance based logistics or defining and methods to determine key
performance indicatorsiii.
Key
performance indicators may be classified as into the following
groups:
Quantitative
Practical
Directional
Actionable
Financial
Each
of these indicators can be used to develop Balanced Score Cards,
HeatMaps or as inputs for SWOT or magic quadrant analysis for a given
project and it's deliverables. These also include the various methods
of charting such as Histogram, Candlestick, Inverted bar, and others.
The
distribution of this information once it's created may be via
standard methods including e-mail or the internal network (the
intra-net) of an organization where proper security and accounting
controls may be used to audit and control access to this information
as key performance indicators on a major project can indicate
corporate risk appetite and potentially damage the reputation of the
company or organization should they be disclosed publicly. Eg; when
Sony online's network were breached their stock dropped 15% in less
than one week due to widespread fear of public reprisals including
class action suits due to said disclosure. If a company or
organization is spending millions on a software project to improve
it's security stance the very existence of this expenditure could
affect public confidence. As Tzun Tsu stated “The basics
of all combat rely upon a foundation of secrecy”.
The methods cited
here are by no means exhaustive such as Six Sigma or TQM as cited by
Schwable; however they are used frequently enough to warrant
discussion.
Another issue is
the standardization of a given organization to agree upon the methods
to be used beforehand to ensure consistency in the delivery of these
project performance metrics as if the data cannot be read and
understood than it might as not exist in the first place. Thus if the
organization agrees to conform to ISO 9000 and then standardizes on
ISO 12004, 10007, and 15403 for quality management they must also
standardize upon the project methodology and related performance
metrics to be reviewed by each of these procedures to ensure that
they are both consistent and understood.
Thus we may define
what performance metrics we wish to measure within our project, apply
a ruler of our own design and in turn derive value from the reports
generated to be used as inputs for business decisions related to our
project in question. Odd units of measure that come to mind are the
inverse femtobarn, attoparsec or hoppus foot, for projects we may
define dollars per hour per objective feature as a standard if we so
wish for efficiency, or time per line of code (t over kloc) per
project.
iPocatilu,
Paul (Revisita, Informatica Economia, 2007) IT Project Metrics
[Online] PDF Document,
Available from: http://revistaie.ase.ro/content/44/26%20pocatilu.pdf
(Accessed on September 8th
2011)
iiBrown,
Mark Ghram (Productivity Inc. 1996) Keeping score: using the
right metrics to drive world-class performance P.
6 – 10 ISBN: 0-527-76312-8
iiiFitz-Gibbon,
Carol T. (Blank House, BREA Dialouges, 1990 – 2 ) Performance
Indicators ISBN: 1-85359-093-2\
