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Unit 5 – Assignment – Top 6 Metrics Assignment

Consider that you are starting a PMO in your company using the previously developed PMO Charter. Starting on Page 86 in Gerard Hill’s book, list the top 2 metrics that would apply best to your company in each of the three categories: Process Management and Improvement Metrics, Project Performance Metrics, and Business Management Metrics and why you are selecting them.  You should tie the selection of metrics to the needs analysis you completed in Unit 4 for your company. (PRJ-60)Submit a Word Doc and Table with the two metrics under each of the three categories. (Total of 6 metrics should be on the table.)In the same Word Doc, list the top 6 metrics above for your company PMO that you wrote your charter on, explain why you selected the six based on your needs analysis completed in Unit 4 and denote their target values for year 1, year 2 and year 3.  Display the units clearly for you metrics. For each metric of the top 6 use at least 75 words per metric that would describe any specific steps you would need take to in your company to achieve your targets for each metric. 

 

Listen to the following PMO Podcast

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PMGT 580 Unit 5

Management, Metrics and Tools in a PMO

Note: Reference material is The Complete Project Management Office Handbook by Gerard M. Hill and Business Driven PMO Setup by Mark Price Perry.

Overview

“Tell me how you measure me and I will show you how I behave.”

This key principle is relevant to Project Management Offices. It is important that your PMO has metrics or otherwise your teams will not appreciate the value.  This Unit focuses on how metrics and tools are used to build successful PMOs.

Unit 5 Objectives

You will be able to answer the following questions about this topic.

What are tools that might be considered in the design and sustainment of a PMO?

How should these tools be selected, implemented, and then evaluated after implementation?

What is a PMO architecture and how does it apply to standards and metrics?

What are the common components of a PMO architecture?

Why is it that one project management tool or application cannot meet the needs of a PMO?

What types of tools are needed in the various process group areas like initiating, planning, etc..  within PMI?

What are the standards that can be used to design and sustain a PMO?

How these standards should be applied to the PMO?

What metrics should be considered and how to use them?

Discussion

What tools have you used within your projects or PMOs?

PMO Tools

Project Life cycle management

Project Planning and oversight

Project Collaboration

Document management

Business Systems

Project Environment Support

Tool Selection, Implementation and Evaluation

Selected Project Management Tool Implemented Project Management Tools Evaluate Tool Performance
Identify the need for project management tools Examine general types of project management tools Assess specific project management tools Acquire project management tools Plan tool implementation Plan tool transition Conduct tool use training Conduct tool implementation Identify and resolve utilization problems Identify and resolve functional problems Assess overall tool effectiveness

Discussion

Why is it that one project management tool or application cannot meet the needs of the PMO?

Size of PMO

Cost

Executive Support

Hardware requirements

Resource capability

Familiarization with current tools

Contractual requirements

Training requirements

Project Manager Tools

Initiate Plan Execute Control Closed
Brainstorming Feasibility analysis Business Case Budget estimates Scorecarding Collaboration Presentation Requirements Scoping Cost Quality planning Risk Planning Collaboration Presentation Kickoffs Assessments Contract Reports Issue logs Changes logs Status Reporting Collaboration Presentation Performance Reports Budget update Scope update Risk Register Approved Changes Collaboration Presentation Lessons learned Estimating Updates Performance Review Improvement Plan Project archives Collaboration Presentation
Word Excel Teamsites Document Mgt PowerPoint Mindmapper Word Excel Visio Project PPM Teamsites Document Mgt PowerPoint Mindsnapper Word Excel Project PPM Teamsites Document Mgt PowerPoint Word Excel Project PPM Teamsites Document Mgt PowerPoint Word Excel Project PPM Teamsites Document Mgt PowerPoint

Activities

Tools

PMO Architecture

PMO architecture is all about understanding the many different components that make up the PMO and how those components relate.

Common Components of a PMO Architecture

Project Portfolio Management (PPM) application component

Collaboration platform component

Desktop Tools Component

PMO content assets component

PMO Architecture

Figure 5.4 PMO Architecture, see Perry’s book

Discussion: How does the PMO architecture apply to standards and metrics?

PMO’s Standards and Metrics Function model

Implement Project Management Standards Determine Project Metrics Requirements Introduce and Use Project Metrics
Examine standards sources Identify applicable standards Introduce preferred standards Conduct benchmarking Identify process management and improvement metrics Identify project performance metrics Identify business management metrics Establish measurements plan Compare performance Establish corrective actions

General Sources of Standards

Project Management Practices

Ex. Project Management Institute A Guide to the Project Management Body of Knowledge (PMBOK)

Project Management Maturity

Organizational Project Management Maturity Model or OPM3® is a globally recognized best-practice standard for assessing and developing capabilities in Portfolio Management.

Technical Capability

Capability Maturity Model Integration (CMMI®)

Project Management Competency

PMI Project Manager Competency Development (PMCD) Framework

Organizational Certification

Ex. International Standards Organization (ISO), Malcolm Balridge National Quality Award

Project Performance Metrics

Budget

Schedule

Resource Management

Risk Management

Quality Assurance

Business Management Metrics

Contract and Agreement Metrics

Customer Satisfaction Metrics

Project Portfolio Management (PPM) Metrics

Financial Metrics

Establish Metrics Measurement Plan

Compare/Analyze Metrics Performances

Take corrective actions

Key word for those absent

Listen to recording!

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Rubric

Rubric for Assignment 5a- Metrics
Max Your Points Comments
Top 3
Top 2 for each category 1 and why selected 20
Top 2 for each category 2 and why selected 20
Top 2 for each category 3 and why selected 20
Target Values for 6 Metrics years 1-3 20
Clear Units 5
Top 6 Metrics Steps to Achieve 10
Grammar – Organization – Spelling 5
Late
Total 100 0 95
Consider that you are starting a PMO in your company using the previously developed PMO Charter. Starting on Page 86 in Gerard Hill’s book, list the top 2 metrics that would apply best to your company in each of the three categories: Process Management and Improvement Metrics, Project Performance Metrics, and Business Management Metrics and why you are selecting them.  You should tie the selection of metrics to the needs analysis you completed in Unit 4 for your company. (PRJ-60)
Submit a Word Doc and Table with the two metrics under each of the three categories. (Total of 6 metrics should be on the table.)
In the same Word Doc, list the top 6 metrics above for your company PMO that you wrote your charter on, explain why you selected the six based on your needs analysis completed in Unit 4 and denote their target values for year 1, year 2 and year 3.  Display the units clearly for you metrics. 
For each metric of the top 6 use at least 75 words per metric that would describe any specific steps you would need take to in your company to achieve your targets for each metric.

Metrics

Process Management and Improvement Metrics
Process Management Methodology Processes
Technical Processes
Business Processes
Resource Management Processes
PMO Support Processes
Project Performance Metrics
Budget
Schedule
Resource Management
Risk Management
Quality Assurance
Business Management Metrics
Contract and Agreement Metrics
Customer Satisfaction Metrics
Project Portfolio Management Metrics
Financial Metrics