Project Metrics

Project Metrics

Project Metrics Jonathan Poland

Project metrics are methods for measuring the progress and performance of a project. They are typically tracked continuously in order to provide management with information that can be used to steer and manage the project. Many project metrics reveal whether a project is on schedule and budget, while others measure secondary factors such as risk. By using project metrics, organizations can monitor the status and performance of their projects and make informed decisions about how to allocate resources and address any issues that may arise. The following are common project metrics.

Actual Cost
The total expenditures of a project or activity to date.

Defect Density
The number of defects expressed as a ratio to complexity. For example, defects per thousand lines of code is a common measure of defect density. Used as an indicator of deliverable quality.

Defect Resolution Rate
The percentage of defects that are currently resolved, often reported by defect severity. Used as an indicator of release quality.

Cost Performance Index
The ratio of earned value to actual cost. Measures the percentage of expenditures that have achieved a deliverable.

Cost Variance
The amount that a project is over or under budget at a point in time. Calculated as earned value – actual cost.

Design Stability
The number of change requests that have required design or architecture changes.

Earned Value
Earned value is the budget authorized for work completed. It is used to measure how much you have delivered to date as a financial figure.

Estimate To Complete
Estimate to complete is the cost required to complete the remaining work for a project or activity at a point in time.

Estimated Time To Complete
The estimated time required to complete the remaining work for a project or activity.

Milestone Achievement
The percentage of project milestones that are met successfully.

Payback Period
The amount of time for an investment in a project to break even, often expressed in months.

Percent Complete
An estimate of the currently completed portion of work for activities and the project as a whole.

Project Velocity
The amount of work that a team completes in a sprint often measured in story points. A common agile metric.

Requirements Volatility
The sum of all changes to requirements including new, changed and dropped requirements. Often expressed as a percentage of the original number of requirements. For example, if there are 20 changes and there were 100 original requirements, requirements volatility is (20/100)*100 = 20%.

Resource Utilization
The percentage of available hours for assigned resources that are currently being charged to project activities. A figure over 100% indicates overtime.

Return On Investment
The projected return for a project investment.

Risk Exposure
The total risk the project currently faces after risk treatment. Project risk is typically modeled with risk matrices. It is calculated as the sum of all probabilities × impacts for identified risks.

Risk Management Effectiveness
The percentage of project issues that were identified as risks and managed in advance of the event.

Schedule Performance Index
The ratio of earned value to planned value.

Schedule Variance
The difference between committed dates and actual dates in days.

Scope Changes
The number of change requests that have resulted in a change to scope. An indicator of project stability.

Story Points
The number of story points yet to be completed. Commonly used to measure epics and sprints for agile projects. Typically depicted on a burn down chart that plots outstanding story points versus time.

Variance At Completion
The budget surplus or deficit at completion of a project.

Learn More
Capital Financing 150 150 Jonathan Poland

Capital Financing

Capital financing is a critical aspect for businesses, particularly when it comes to development and expansion. It involves raising funds…

Brand Strategy Jonathan Poland

Brand Strategy

Brand strategy is the plan that a company has for building and managing its brand over time. It involves defining…

Window of Opportunity Jonathan Poland

Window of Opportunity

The window of opportunity is a concept that refers to a limited time period during which an opportunity is available…

Employee Benefits Jonathan Poland

Employee Benefits

Employee benefits are additional forms of compensation offered to employees as part of their overall remuneration package. These benefits can…

Quality Objectives Jonathan Poland

Quality Objectives

Quality objectives are specific, measurable targets that organizations set in order to improve the quality of their products or services.…

Data Asset Jonathan Poland

Data Asset

A data asset is any data that is expected to produce future financial returns. The value of a data asset…

Types of Work Jonathan Poland

Types of Work

Work refers to any productive activity or pursuit that is undertaken in order to create value. There are countless types…

In-Store Marketing Jonathan Poland

In-Store Marketing

In-store marketing refers to the use of physical retail locations, such as stores and showrooms, as a platform for marketing…

Servant Leadership Jonathan Poland

Servant Leadership

Servant leadership is a leadership style in which the leader puts the needs of the team or organization above their…

Content Database

Search over 1,000 posts on topics across
business, finance, and capital markets.

Innovation Objectives Jonathan Poland

Innovation Objectives

Innovation objectives are aims to significantly improve something through the use of experimentation, risk-taking, and creativity. These goals tend to…

Manufacturing 150 150 Jonathan Poland

Manufacturing

Manufacturing is a critical phase in business development, especially for companies that produce physical goods. The synergies between manufacturing and…

Praxeology Jonathan Poland

Praxeology

Praxeology is the study of human action, particularly as it pertains to decision-making and the pursuit of goals. The term…

Magical Thinking Jonathan Poland

Magical Thinking

Introduction to Magical Thinking Magical thinking is a type of irrational belief that involves attributing causality to events that are…

Segregation of Duties Jonathan Poland

Segregation of Duties

Segregation of duties is a principle in internal control that aims to reduce the risk of fraud or errors by…

Data Security Jonathan Poland

Data Security

Data security is the practice of protecting data from unauthorized access, use, modification, destruction, or deletion. It is a key…

Growth Strategy Jonathan Poland

Growth Strategy

A growth strategy is a plan to increase or improve some KPI, like revenue, profit, subscribers, etc.

Balance Sheet Jonathan Poland

Balance Sheet

The balance sheet is a financial statement that provides a snapshot of a company’s financial position at a specific point…

Regulatory Risk Jonathan Poland

Regulatory Risk

Regulatory risk refers to the risk that a company will face regulatory actions or penalties as a result of non-compliance…