can one develop such a measuring system? The answer is there are thousands. Every organization and industry requires a different set of measuring criteria used during the project life cycle. Therefore there is no one answer on how a system can be created. However, here are some general ideas on creating a plan in your organization:
- It must support the organization’s strategic priorities
- Performance measures must be aligned and tailored to the needs of the project
- Objectives and tolerance must be identified
- Required time, effort and expertise as well as senior management support
- Must allow for corrective actions for "out of tolerance" measures
- Should not be cumbersome to apply or manage during the project life cycle
The key to achieving anything in life is knowledge and the world of project management is no different. By creating a project measurement system, you will then possess the knowledge of what can and will go wrong and how best to mitigate it when it does. A kind of proactive risk management if you will. When you fully understand the causes of project failure, you’ll be better able to avoid the pitfalls that occur when they appear unexpectedly.
But even with this system in place, there is still one critical element needed for project completion and that’s experienced project managers that realize the importance of communication, application and education and passing that along to all of the members of their team.