Metrics for Program Management Success
Program managers have a complex role that requires them to oversee multiple projects simultaneously while ensuring that they all align with the organization’s strategic goals. One of the key responsibilities of a program manager is driving performance and accountability. In order to achieve this, program managers need to have metrics in place that allow them to measure progress and identify areas for improvement.
This is the latest post is one of several in the series I have focused on Program Management Fundamentals
Metrics To Drive Success
Metrics are a critical component of program management. They provide program managers with the necessary information to make informed decisions and take corrective action when necessary. To be effective, metrics must be aligned with the program’s goals, objectives, and stakeholders.
Here are some key considerations for driving performance and accountability through metrics in program management:
Define Clear and Measurable Objectives:
Program managers need to define clear and measurable objectives that align with the program’s goals. Objectives should be specific, measurable, achievable, relevant, and time-bound (SMART). This allows program managers to track progress and measure success.
Establish Baseline Metrics:
Before implementing any changes, it’s important to establish a baseline of performance metrics. This allows program managers to measure the impact of any changes and identify areas for improvement.
Identify Key Performance Indicators (KPIs):
KPIs are the metrics that program managers use to track progress and measure success. KPIs should be aligned with the program’s objectives and goals. They should also be specific, measurable, and relevant.
Regularly Review and Update Metrics:
Metrics should be reviewed and updated regularly to ensure they are still relevant and aligned with the program’s goals. This allows program managers to make adjustments and take corrective action when necessary.
Communicate Metrics and Progress:
It’s important to communicate metrics and progress regularly to stakeholders. This helps to build trust and transparency while also ensuring that everyone is on the same page.
Selection of the Best Fit Metrics for your Organisation
There is considerable skill in selecting the ‘best-fit metrics’ for your organisation, for the workflow that will generate the data and the subsequent insights.
Effectively you are placing a ‘health monitoring system’ on the business, much like a Doctor or Nurse would on a patient in the hospital.
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Key Takeaways
In order to be successful in program management, it’s essential to have a clear understanding of the key metrics that drive performance and accountability.
By implementing the above considerations, program managers can ensure that they have the necessary metrics in place to measure progress and drive success.
Best Practice Thinkers: Thought Leaders
If you have been reading my material for a while now, you will know how important it is to be Data-Backed, and that the science and research support my positions, therefore I have prepared for your reflection, here are some of the best thinkers in the space of program management and their works on Driving Performance and Accountability:
- Harold Kerzner – author of “Project Management Metrics, KPIs, and Dashboards: A Guide to Measuring and Monitoring Project Performance“
- Mario Trentim – author of “Earned Value Project Management: Fourth Edition“
- Ray W. Frohnhoefer – author of “Program Management and Controls: Managing Engineering, Construction and Manufacturing Projects to PMI, APM and BSI Standards“
- “Metrics for Project Management: Formalized Approaches” by Ginger Levin
- “Key Performance Indicators (KPI): Developing, Implementing, and Using Winning KPIs” by David Parmenter
- “Program Management: A Life Cycle Approach” by Ginger Levin and J. LeRoy Ward
