Colorado State University Developing & Implementing Key Performance Indicators Paper

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Colorado State University

Description

KPI Selection

Badawy, Abd El-Aziz, Idress, Hefny, and Hossam (2016) stated that many organizations are using the wrong metrics that they call key performance indicators. Instead, they offered four types of performance measures:

  1. Key result indicators (KRIs): it tells you how you have achieved in a perspective or critical success factor.
  2. Result indicators (RIs): tell you what you have done.
  3. Performance indicators (PIs): tell you what you must do.
  4. KPIs: tell you what to do to highly increase performance. (p. 47)

For this assignment:

  • Interview someone you know who is currently working on a project.
  • Discuss the project success factors, what has been accomplished to date, what is left to be done, and what your interviewee thinks might increase performance on the project.
  • Find out what types of metrics are being used and if, in the opinion of the interviewee, they are useful.

In your written paper, consolidate what you learned in your interview and provide a synopsis of the information in less than one page. The interviewee may remain anonymous if requested. While the interviewee may remain anonymous, the organization should be an actual one with which you are familiar and noted in the paper. In the remainder of the paper, suggest whether the metrics being used are KRIs, RIs, PIs, or KPIs, and why, and if you were to recommend a change to more effectively report on the project what KRIs, RIs, PIs, or KPIs would you suggest.

Paper Requirements:

  • Be sure to properly organize your writing and include an introductory paragraph, headings/subheadings for the body of your work, discussion recommendations, and a conclusion.
  • Format your entire paper in accordance with the
  • Your paper should be at least five pages

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Explanation & Answer

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Running head: KPI SELECTION

KPI Selection
Author
Date
Professors Name

KPI SELECTION

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Introduction
The success of a project depends on one vital factor which is measurement. At the heart of
any worthwhile endeavor is the collection and measurement of data. Metrics or Key Performance
Indicators (KPIs) aid one in meeting business goals strategically (Parmenter, 2015). The person
interviewed was from Bechtel Group Inc. construction company located in San Francisco,
California. Metrics usually prove value especially project management metrics that are related to
cost are always valuable to the project team for instance a delivery rate that is on-time. The metrics
being used are KPIs.
Project Success Factors
Return on Investment (ROI) is a perfect metric for showing and displaying this value. As
the person I interviewee mentioned, when a department does not make a production or contribution
to the goals or objectives that are measurable for the company, then the company has to smartly
dissolve this particular department and transfer the resources to a more profitable and result
oriented department. Metrics also improve the overall performance. For a company possessing
forward-thinking management, it must place value on improvement of performance while also
trying to prove that value is just as important (Popa, 2011). The relevant performance metrics will
increase and lead to improvement on their performance in the process eradicating any kind of
uncertainty leading to all participating parties making decisions that are well informed. For
instance, if the slack time allotted causes delays to the subsequent completion of tasks then
adjustments need to be made on the slack time to eradicate any risk on the project completion date.
Various business goals can be measured according to the interviewee as this business
objectives usually have an influence on the performance metrics chosen by th...


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