Level:
Basic
TCM Section(s):
10.1. Project Performance Assessment
9.2. Progress and Performance Measurement
Venue: 2022 AACE International Conference & Expo
Abstract: Key performance indicators are consistent and effective ways to measure, track and report schedule progress periodically. They summarize all events in a singular number with a repeatable calculation method.
Although the earned value (EV) based KPIs can be insightful for reviewing schedules, their value maybe limited to cost or resource-loaded schedules. Analytical review of a schedule is a common challenge when cost and resource information is absent.
This study investigates alternative KPIs that are independent of cost and resource loading. Also, the alternative KPIs can be used independently or complementary to EV KPIs. Unlike the EV KPIs, the alternative KPIs place equal weight on all activities, which provides an alternative perspective on the project's health.
Alternative KPIs reviewed in this study are the baseline execution index (BEI), current execution index (CEI), and critical activity ratio (CAR). BEI reveals the "execution pace" and validity of the baseline as the project progresses.CEI focuses on measuring the success in forecasting and looks at the project in a small recent window. And lastly CAR focuses on reviewing critical path and logic validity.
The study furthers into the goals of the KPIs, their interpretations and limitations.
TCM Section(s):
10.1. Project Performance Assessment
9.2. Progress and Performance Measurement
Venue: 2022 AACE International Conference & Expo
Abstract: Key performance indicators are consistent and effective ways to measure, track and report schedule progress periodically. They summarize all events in a singular number with a repeatable calculation method.
Although the earned value (EV) based KPIs can be insightful for reviewing schedules, their value maybe limited to cost or resource-loaded schedules. Analytical review of a schedule is a common challenge when cost and resource information is absent.
This study investigates alternative KPIs that are independent of cost and resource loading. Also, the alternative KPIs can be used independently or complementary to EV KPIs. Unlike the EV KPIs, the alternative KPIs place equal weight on all activities, which provides an alternative perspective on the project's health.
Alternative KPIs reviewed in this study are the baseline execution index (BEI), current execution index (CEI), and critical activity ratio (CAR). BEI reveals the "execution pace" and validity of the baseline as the project progresses.CEI focuses on measuring the success in forecasting and looks at the project in a small recent window. And lastly CAR focuses on reviewing critical path and logic validity.
The study furthers into the goals of the KPIs, their interpretations and limitations.