The best metrics for project success in 2021
While measuring the project success it is not enough to verify if the system works or not, it is important to verify how well the system is being used by the user community. That is the true measurement of project success. It is important to have the project metrics based on this guideline so as to measure the project success better.
First let us understand the meaning of metrics. Project metrics essentially are objectively measurable parameters pertaining to the project. They play a major role in project control. Traditionally the project metrics were focused on the project deliverable success measurement alone. But this outlook is changing now and is based not only on project justification, but also on the project acceptance by the user community and the resulting ROI. The project metrics for success should be able to measure the benefits of the project to the core business units and also should capture the when and what of project success measurement.
The project metrics need to be defined at the initial phase of the project. The metrics to be measured under the different categories are as given below:
From the above table of project metrics it can be seen that metrics should be measured both during and after the project execution. It is not a onetime affair. In fact a post implementation review is a must to identify the overall project success/ failures, challenges and takeaways. The different success metrics moreover have to be monitored over a period of time so as to get the complete picture of the project. In fact the time factor is key in the measurement of the metrics; this is true because most of the projects are aimed at creating something new or at implementing new processes or new systems.
Hence the metrics for measuring the project success or the level of goal achievement in case of these projects need time so as to measure the actual impact.