METRICS - The Management Mantra

Abstract

This article critically gazes into every aspect of Metrics and how to manage projects using Metrics precisely. Metrics of any kind is interesting to watch but when that is being tied to organizational goals, results would be fruitful to reap more than expected outcome. Metrics shows the journey path and whether organizational needs can be met to not. This would help to take decisions at right time the right decisions, to bring the schedule back on track instead of allowing unknowingly in the wrong path. Any Metrics that’s defined should be married to the goals and vision of the organization and the department where the analysis and changes are implemented. What makes interesting is the analysis of data reveals insights, genuine facts and unveils the black box. The key reason why any organization grows and produces great results YoY [year on year] is because the Metrics is the basis for decisions. Measure of metrics may end up producing decisions directing in the wrong pathway if metrics are irrelevant to the business. Historical data, previous project data, organization-level data and industry data are the best sources to predict the future. Industry experts and consulting bodies rely more on large volume of data of different verticals to recommend suggestions to get away from the rut, but also defines the track for prospect (Wohlin et al., 2000).

Keywords: Productivity, Metrics, SMART Goals, Benchmarks, Data Accuracy, Decision Making

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