Define/align on KPIs and Metrics

[Adil Chaoui]

To track and measure value, clear KPIs and measures should be in place. We want to ensure stakeholders can measure the progress of the project against ROI.

The key activities of defining and aligning on KPIs and Metrics are:

• Identify the metrics that drive outcome in business activities or processes.  Example: CSAT can be used.
• Translate metrics into estimates of financial value.
• Validate KPIs and metrics with stakeholders.

What have you found to work well for defining and aligning on business case and KPI Metrics?

[Shilpa Gaikwad1]

In my experience, most of projects well define and align on business case and KPI metrics in the initial project planning phase. However, do we need to track and measure value only at the beginning of the project?

In most of the cases, projects are planned well in advance, however in some cases, the implementation phase of the project might not even start within 6months. In today’s rapid growing market, it is very important to revisit these business cases to measure they still delivery value. Otherwise, at the end, we will be delivering a project with a very low ROI.

[crystalmorgan]

Qualitative feedback via IT Surveys can be used as inputs to align on business case.  You can distill patterns/themes from qualitative feedback.

[BradleyS0936879]

A well-constructed business case not only showcases the value of KPIs but also aligns with the overall strategy and goals of the organization.

[SarathChandra]

This is helpful Thank you

[Femfem]

For clarity of KPI tracking and to ensure that the customer is aware of the value of the project implementation:

• Per milestone, create metrics that are visual, and data driven.  Ensure these are outlined early enough in the project. Most of my projects use milestone invoicing, this approach comes in very handy.
• Stakeholder Engagement: Collaborate early with key stakeholders to align on objectives and expected outcomes.
• Clear Objectives: Define specific, measurable goals tied to business priorities.
• Data-Driven Baselines: Establish benchmarks using historical or industry data.
• SMART KPIs: Create KPIs that are Specific, Measurable, Achievable, Relevant, and Time-bound.
• Frequent Reviews: Use iterative feedback loops to refine metrics and ensure alignment.
• Visualization Tools: Leverage dashboards to track and communicate progress effectively.