To ease the task for project managers, there are principles like six sigma. If you’re aspiring to work as a project manager, you must learn about the important metrics. Along with that, to be a successful project manager, you should also learn about the six sigma metrics.
Why use project management metrics?
All projects or programs start with a purpose and aim. As the project gets bigger, it gets more and more complicated to manage. And that's when managers turn to metrics.
A metric is a type of measurement that quantifies performance. In real-life projects, the metrics are also known as KPIs or Key Performance Indicators.
By looking at these metrics, the project management and the team determine whether the project is heading in the right direction. They help you allocate and manage resources better.
So you can conclude metrics separate useful information from the noise, which is then used to make informed decisions.
10 Project Management metrics
The world of project management has endless possibilities. There’s no limit as to how many metrics or numbers you can track. But as experienced project managers will tell you, you need to keep things simple.
- Before selecting the metrics to track, you need to ensure the following:
- A project management process that churns out consistent, reliable data.
- Protocols to collect and analyze data.
- Internal and industry benchmarks to compare the metrics against
- Customer Satisfaction
- On-time Delivery
- Product Quality
- Defects per Unit (DPU)
- Defects per Opportunity (DPO)
- Defects per Million Opportunities (DPMO)
- Parts per Million (PPM)
- Rolled Throughput Yield (RTY)