Objective project analysis requires benchmark measurements and quantifiable metrics that tell you what went right, what went wrong and what you might do differently in future projects. The problem is that not only are there no specific set of metrics that apply to all projects, but also that there is an extensive list of metrics from which to choose. To make analysis easier, PM Solutions, a project management consulting firm, suggests creating a project analysis scorecard that includes three to seven value measurements that link to project objectives in each of four key areas.
A project scorecard that includes four columns makes analysis easier. Column labels should identify key project areas, objectives, target goals and ratio results. Establish objectives and target goals for key project areas before the project begins. These include financial, customer, process and learning and growth areas. Then choose appropriate analysis metrics for each target goal.
Choose Key Measurements
While the type and number of measurements you choose may differ between projects, return on investment, change in productivity and cost savings ratios are common finance area metrics. Customer satisfaction, retention and acquisition ratios are common customer metrics. Process measurements often include scope compliance, schedule performance and resource utilization ratios. Learning and growth analysis ratios might analyze changes in employee turnover ratios, training time and productivity.