Abstract
The need to ensure that scarce funding is applied to effective projects is a goal shared by all. Focusing on common parameters of project performance is a means to that end.
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In a Word The need to ensure that scarce funding is applied to effective projects is a goal shared by all. Focusing on common parameters of project performance is a means to that end.
Six parameters are always given weight in methodologies for project management . They are:
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Time
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Cost
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Human Resources
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Scope
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Quality
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Actions
By gauging performance against these parameters, an image of the parts of a project that are in order and of those that are not can be formed. Is the activity on schedule? Is the activity within budget? How many human resources are being expended? Is the activity’s scope in line with original expectations? Is project personnel analyzing and fixing problems with quality actions? Are actions outstanding? If all lights are green, performance will be highly satisfactory in all areas. If one or more are orange, the activity will have one or more potential problems. A red light will signal a parameter that requires urgent attention.
Based on project documents, such as the design and monitoring framework, indicative activities schedule, and cost tables, as well as participatory mechanisms, review missions can assess the attainment of (usually quantified) benchmarks for each parameter by means of project metrics using the activity dashboard depicted in the above figure.
Fig. Activity dashboard. Source Author
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Serrat, O. (2017). Focusing on Project Metrics. In: Knowledge Solutions. Springer, Singapore. https://doi.org/10.1007/978-981-10-0983-9_29
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DOI: https://doi.org/10.1007/978-981-10-0983-9_29
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Publisher Name: Springer, Singapore
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