Techno Management will work with the Organization to define the project Key Performance Indicators (KPIs). These KPIs will be based on the Earned Value Management technique (EVM). This technique is adopted by the Project Management Institute (PMI), as the standard of project management performance measures and is based on the following parameters:
- Planed Value
- Actual Cost
- Earned Value
From the above three parameters, the following, measures are also produced:
- Schedule Variance
- Cost Variance
- Cost Performance Index
- Schedule Performance Index
- Variance at Completion
- Budget at Completion
Applying the EVM requires the project schedule to be loaded by the resources cost, which may be challenging to some organizations. When EVM is not applicable within an organization, alternatives can be applied, like the following parameters:
- Start Variance
- Finish Variance
- Duration Variance
The KPIs will be based on the following performance measurement factors:
- Project Health
- Project Progress
- Project Earned Value
- Project Progress
- Project Cost Variance
- Project Schedule Variance
- Project Issues
- Project Risks
- Variation Orders