These are not particularly nuanced metrics (delays can be for any number of reasons outside your control), but they do a great job of helping you understand the project at a glance. At just under 5 feet, Sylvia is a living testament to the adage that good things come in small packages. It is the comparison of billable vs. non-billable activities. However, since you’re only using the resource for 80% of their available time, your actual realized rate is $80 (80% * $100). Select these carefully so that they cover only the parts of the business you care about. How it helps: Comparing Earned Value with Planned Value gives you a quick estimate of whether you’re behind or ahead of schedule. This figure is a measure of how profitable each project is and can be calculated as follows: As you can imagine, the higher the margin, the healthier the agency. AGI: FTE, thus, tells you how much money you’re bringing in for each full-time employee in your business. Keeping your dashboard clearly defined will allow you to fully concentrate, keep your budget in line and focus on the high level metrics … It is a measure of the total billed hours vs the total available billable hours, expressed as a percent. Software development metrics are quantitative measurements of a software product or project, which can help management understand software performance, quality, or the productivity and efficiency of software teams. Strategy, Author Any project management system, however rudimentary it might be, throws up a lot of data. Compare your Planned Budget vs. Actual Budget at a given point in time. This data can be subjective or objective, individual or team-focused, project-wide or organization-wide. Measure Project … This can help you zero in on your most profitable people and projects. A survey by SoDA (Society of Digital Agencies) that covered 48 different metrics found that none of the metrics was used by all the surveyed agencies. Billable utilization is a critical concept for firms that make money by billing out resources (people) to customers. You can compare Planned Value with other KPIs to determine if you are running ahead or behind schedule on a project. Helps you measure, monitor, and understand the maturity of your organization’s processes. How to Write the Most Compelling Creative Brief (with Examples). There are two aspects to accurate measurement: For instance, if you’re trying to measure client happiness, simply asking clients whether they are satisfied with your performance gives you a poor estimate of performance. Project management metrics related to costs can prove the value of a team. At the same time, your choice of metrics should be limited in their scope. Types of Software Metrics. I’ll cover project management metrics in detail in this guide. Regardless of what industry or space you’re in, there are certain metrics set in stone. Your target utilization rate will vary based on your businesses and roles within those businesses. Privacy Policy. These two related metrics tell you how far the project has strayed from its estimated budget and schedule. Also referred to as: Budgeted Cost of Work Scheduled (BCWS). For example, a project with a budget of $100,000 has a scheduled period of 12 months. Danielle Richards A robust PM system might tell you how a project is doing at any moment, but it can’t tell you how the organization or its constituent people are performing. A list of common management metrics. A way to accurately collect and analyze data. Project Management, Citing specific examples and the metrics … Pertinent to your organization and its current goals, The metric you’re trying to measure must be consistent and predictable, The tools you’re using to measure the metric must have a low error rate. You can create reports on the fly to understand exactly how each project and your entire agency is doing. Planned Value, which is sometimes also called Budgeted Cost of Work Scheduled (BCWS), is a measure of the estimated cost of planned activities at any given time. That is, most agencies used their mix of metrics. Each project manager typically has different objectives, and metrics that work well for one business might not work for another. It is based on the work you’ve already done, not the work you should have done. In contrast, your Planned Value is $50,000, i.e. You can calculate it as follows: For example, a project with an Earned Value of $50,000 and Actual Costs of $60,000 would have a CV of -$10,000. How it helps: Actual Cost gives you a broad understanding of your expenses on a project. All you have to do is add up the money you’ve spent so far on the project. See the platform in action, ask as many questions as you'd like, and discuss your specific needs with our friendly and knowledgable sales team. 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