Key Performance Indicator KPI McCormick PCS

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Key Performance Indicator KPI,KPI Overview 3,I Characteristics of KPI 5. II Requirements of a KPI 5,III How to design a KPI 5. IV Key Result Areas 5,1 Definition of Key Result Areas KRA 5. 2 Importance of KRAs 6,V List of KPI Mistakes 6,VI KPI Examples 6. Construction KPIs 6,KPIs for Project Management 10.
Performance Reporting 11,Work Performance Information 11. Project Execution Outputs Work Performance Information 12. Baseline Start Date 14,Baseline Finish Date 14, Technical Performance Measurement or Indicators TPM TPI 14. TPM Example 15, Measurement Methodology Inspection Acceptance Example 15. Step 1 Overview 15,Step 2 Daily Monitoring 16,Step 3 Cyclical Evaluations 16. DLC Project Management Page 2,10 21 2013 Prepared By Michael McCormick.
Key Performance Indicator KPI,KPI Overview, A metric by definition is any type of measurement used to gauge some quantifiable. component of performance A metric can be directly collected through observation such. as number of days late or number of defects found or the metric can be derived from. directly observable quantities such as number of Change Orders or a cost. performance index CPI When used in a monitoring system to assess project or. program health a metric is called an indicator or a key performance indicator KPI. Project metrics can be categorized into three main categories. 1 Pure project management measurements Example Estimation accuracy. 2 Indicators of project success Example Zero Injuries. 3 Indicators of business success Example Positive CPI. At the macro level metrics management means identifying and tracking strategic. objectives This is often done by the PMO if one exists When reporting metrics to. management it is important to keep the time factor in mind True success or true failure. may not be apparent until long after a project is formally closed. Examples of macro level metrics include,Number of successful projects. Percentage of failed projects,Number of hours spent per project. Number of Change Orders per Project,Number of Schedule Delays Days. Number of Project Schedule Rebaselining, Number of Projects Delayed by Pre construction Process.
At the micro level metrics management means identifying and tracking tactical. objectives It is only by looking at the task level metrics that status of higher level work. packages can be ascertained which can then be reported to project team members. DLC Project Management Page 3,10 21 2013 Prepared By Michael McCormick. Key Performance Indicator KPI, The following criteria are some common tactical measures people want to be. updated about,Question Answered Sample Indicator, Time How are we doing against the Schedule Performance Index SPI Earned. schedule Value EV Planned Value PV 1 Ideal, Time Planned to Actual Schedule Variance SV Schedule Variance is. computed by calculating the difference between,the earned value and the planned value EV PV.
0 Ideal Indicator, Time Weather Impact Number of weather related delay days. Cost How are we doing against the Cost Performance Index CPI Earned Value. budget Actual Cost, Resources Are we within anticipated Amount of hours overspent per work schedule. limits of staff hours spent, Scope Have the scope changes Number of Change Requests or of Contract. been more than expected Value exceeds allowance 3 of CV. Quality Are the quality problems Number of commissioning defects and. being fixed corrective action impact Days Man hours. Quality Client Satisfaction Number of Complaints or Damage Claims. Residential Commercial, Action Are we keeping up with our Number of action items behind schedule for. Items action item list resolution, Risk Risk Management Number of Risk that changed to Issues.
DLC Project Management Page 4,10 21 2013 Prepared By Michael McCormick. Key Performance Indicator KPI,I Characteristics of KPI. KPI is a term specifically used to indicate criteria adopted in evaluating an employee s. or contractors performance Following are some characteristics of KPI. 1 A KPI must be aligned with the organization s objectives. 2 A KPI is determined by management, 3 A KPI must be designed so that it is easy to understand. 4 Some KPIs are specifically designed for each employee or contractor. 5 KPIs are expected performance by the organization. 6 KPIs must be designed to balance the evaluation of each employee or. contractor, 7 KPIs lose their accuracy over time therefore it is necessary to revise KPIs. periodically,II Requirements of a KPI,An effective KPI should be.
1 Specific,2 Measureable,3 Achievable,4 Performance relevant. 5 Containing deadline requirement,III How to design a KPI. 1 Design Key Result Areas KRAs and the importance of each KRA. 2 Identify necessary procedures to perform each KRA. 3 Identify the measurement criteria for each KRA and evaluate the importance of. each criterion, 4 Summarize the criteria and the importance of each criterion. 5 Develop a summary table of KPIs,IV Key Result Areas. 1 Definition of Key Result Areas KRA, Key Result Areas or KRAs refer to general areas of outputs or outcomes for which the.
department s role is responsible,DLC Project Management Page 5. 10 21 2013 Prepared By Michael McCormick,Key Performance Indicator KPI. Key Result Area in simple Terms may be defined as Primary responsibilities of an. Individual the core area which each person is accountable. 2 Importance of KRAs,Set goals and objectives, Prioritize their activities and therefore improve their time work management. Make value added decisions,Clarify roles of department or individual. Focus on results rather than activities, Align their roles to the organization s business or strategic plan.
Communicate their role s purposes to others,3 Conditions of KRAs. Key result areas KRAs capture about 80 of the department s work role The. remainders are usually devoted to areas of shared responsibility. Each KRA should capture at least 5 of work role,V List of KPI Mistakes. Building KPI system plays an important role in evaluating job performance of individual. parts divisions and the company s objectives and performance management system in. general The development of KPI metrics help to create measurement systems. information systems throughout the organization, When building KPI system you should note the following factors. Do not create too many KPI be built around 3 5 KRAs Key Result Areas. KPI should change to suit each stage depending on your goals. Limit 3 7 KPIs per process function,VI KPI Examples. Construction KPIs, 1 of waste recycled Percentage of construction and demolition waste.
DLC Project Management Page 6,10 21 2013 Prepared By Michael McCormick. Key Performance Indicator KPI, 2 Construction cost in use Measures the annual operating and maintenance. cost of a construction expressed as a percentage of the actual design and. construction cost, 3 Time to rectify defects Measures the contractor s time to rectify all defects in. the maintenance period from the moment the project is available for use until the. end of the contractually agreed period for rectifying defects. 4 Regulation compliance KPIs include,a Number of small violations per year. b Number of medium violations per year,c Number of big violations per year.
d Number of violations by sector,e Costing lost by violation. f Time lost by violation,g Violation rate by department. 5 Liquidity Determine how much cash your work in progress is generating or. consuming by monitoring key current asset and liability balance sheet accounts. 6 Cash flow Understand whether individual projects are generating or consuming. cash so you can better identify execution problems on projects. 7 Actual construction hours vs Planned construction hours The actual. project construction man hours are recorded and analyzed against the original. planned baseline construction man hours on a monthly basis. 8 Backlog Properly tracking backlog and the expected gross margins on. backlogged work allows construction firms to avoid the problems associated. with insufficient work and profit fade, 9 Actual construction time This KPI is the actual construction time for the. contract that formed the basis of the contractor s bid excluding any extra works. 10 Committed cost With rising material prices and labor shortages construction. firms face financial exposure when suppliers and subcontractors are not yet. committed contractually particularly on longer duration projects. 11 Remediation of defects after handing over The KPI weights the defects. remedied in the first year following handing over based on man hour. consumption,DLC Project Management Page 7,10 21 2013 Prepared By Michael McCormick. Key Performance Indicator KPI, 12 Customer satisfaction scorecard To maintain competitive advantage track.
your firm s ability to meet owner expectations by compiling and analyzing. qualitative feedback, 13 of defects entered in the handing over protocol This KPI shows the. number of defects recorded in the handing over protocol during the handing over. meeting in respect of the contract to be evaluated. 14 Work intensity man hours per m2 This KPI is calculated for new builds and. repair and maintenance projects but not for infrastructure projects. 15 Margin variance Compare your gross margins to business plan objectives by. monitoring overall margin variance, 16 Unapproved change orders Construction firms face an increasing economic. threat from risk transfer provisions in standard contract types. 17 Time Predictability Design Change between the actual design time at Commit. to design Construct and the estimated design time at Commit to Invest. expressed as a percentage of the estimated design time at Commit to Invest. 18 Time to rectify defects in maintenance period The Contractors time taken to. rectify all defects in the maintenance period between Available for Use and End. of the Contractually Agreed Period for Rectifying Defects expressed in weeks. 19 Labor productivity Labor productivity is particularly important for. subcontractors because productivity problems can break labor budgets and. erode profit margins, 20 Schedule variance Project owners demand clear communication regarding. project progress and timely completion, 21 No of activities starting on time The time schedule accuracy in estimating. the start time of each activity, 22 Cost per km Design construction maintenance and administration costs per.
km of various infrastructures, 23 Cost predictability Measures the rate at which the actual construction costs. meet the estimated construction costs, 24 Earned man hours Measures the man hours corresponding to the completed. work in place,DLC Project Management Page 8,10 21 2013 Prepared By Michael McCormick. Key Performance Indicator KPI, 25 Working time of total hours lost to absenteeism. a Average overtime hours per person, i Low number is indicator of proper scheduling and reduces.
opportunity of human fatigue related events,b of man days lost due to strike. c Total time lost by work late, d Lost time due to non fatal accidents or accidents per year. e Lost time due to weather delays,DLC Project Management Page 9. 10 21 2013 Prepared By Michael McCormick,Key Performance Indicator KPI. KPIs for Project Management, When we want to create KPIs for PM we need to use the CSC Critical Success.
Criteria related to project management This means that the KPIs must be related to. Time Budget and Scope TBQ triple constraints, In order to relate to these three critical criteria the. assumption is that tasks contribute to scope,Each task involves resource. Each resource is related to cost,Each task needs time for completion. Therefore Earned Value Analysis or,Management is the tool that we usually. used to measure these three key,performance areas, The following are some sample of KPIs related to Project Management or Earned.
Value elements, Earned Value EV This is the value that we get back as a result of the investment For. example after the contract is signed nothing is done but the vendor is paid 10 of the. project fee so the earned value is still 0 Unless some work already performed and. can be translated to the value, Schedule Variance SV The difference between the original plan and the actual. schedule progress, Cost Variance CV The cost difference between the original project budget and the. actual expenses, Schedule Performance Index SPI To show how well the schedule is managed. against the baseline This means that for every 1 we spend on the resource how. much progress is achieved, Cost Performance Index CPI To show how well the cost is managed against the.
original budget baseline This means that for every 1 we spend on the resource how. much value we got in return For example if we pay 1 but we get 0 5 of the value of. the result that means the CPI is poor,Other KPIs that may be applicable are such as. DLC Project Management Page 10,10 21 2013 Prepared By Michael McCormick. Key Performance Indicator KPI, Customer Satisfaction For example we can measure the return customer in quantity. or customer terminates the contract etc, Process Efficiency For example the speed in getting one job done is compared. between the post project to the pre project measurement. Key Performance Indicator KPI DLC Project Management Page 3 10 21 2013 Prepared By Michael McCormick KPI Overview A metric by definition is any type of measurement used to gauge some quantifiable component of performance A metric can be directly collected through observation such

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