Optimizing resource investments using metrics to bring more value.
Are metrics a benefit or challenge to your organization? Uncover the crucial elements that must be present to help you forge metrics to not only meet project deliverables but become a true strategic partner. Download our informative whitepaper.
Manage resources with solid metrics and you’ve made a giant step in the direction of profitable change. Here are the four best practices that we’ve identified to help you institute a system of metrics in your PMO and integrate them among your stakeholders and teams:
- Organizational Readiness - Can your enterprise step up to the plate and design metrics that matter?
- Designated Resources for Metrics Projects - If you can’t fit metrics projects into your headcount intelligently, you’re doomed to fail.
- Senior Management Sponsorship/Champions - What to say to gain buy-in.
- Continuous Learning/Improvement - End your “cycle of PM metrics pain” with a cycle of continuous improvement and learning that allows you to measure what matters most
Introduction
In our last white paper, 6 Best Practices for Resource Demand Planning Success, we shared how your organization can move quickly to manage new and innovative projects by harnessing resource demand planning (RDP) best practices. Now, we will talk about the best way to measure your PM activities in your portfolio; and the elements that must be present in your organization to help you forge metrics to not only meet project deliverables but become a true strategic partner. You might be sick of hearing about certain kinds of metrics projects we’ve all either experienced or heard about. They don’t work because no one knows how to follow them. The communication systems for them are totally ineffective. Or they are instituted from ― "on-high" with no firm relationship to the real world. Yet if you want to start a process to make the most of everything you do, we’ve seen it over and over-- turn to metrics.
Resource Demand and Metrics
Manage resources with solid metrics and you’ve made a giant step in the direction of profitable change. Why? When you are technically enabled to do so, you can track the costs of every resource on every project. Your capacity is clear as day. Then, using solid analytics and scenario modeling, you can plot a course for any other projects on the horizon, including those not yet anticipated. Here are the four success criteria that we’ve identified to help you institute a system of metrics in your PMO and integrate them among your stakeholders and teams: Organizational Readiness; Designated Resources for Metrics Projects; Senior Management Sponsorship/Champions; and Continuous Learning/Improvement.
