Project Vital Signs
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  • Copyright 2000, Center for Project Management Begin this slide at:________________ 11/4/2000
  • ©2010 Center for Project Management v4.1 Page A quick look at the structure of the vital signs chart: Vital Sign : The first column identifies the vital sign. Traffic Light : The traffic light symbols are keyed to the numbers in the “Deviation” column. Green means good health, yellow is a warning sign, and red means trouble. Deviation : The information in this column defines what constitutes good health, a warning sign, or trouble. Value : Think of the numbers in this column as “penalty points.” The higher the score, the worse the health. Vital Signs: Status of the Critical Path : This is the variance between the planned completion date of the project and the currently projected completion date of the project. It offers a measure of on-time performance. Milestone Hit Rate : This is the variance between the number of milestones you planned to complete within a specific time period and those you actually completed within that period. The time period can be from the start of the project to the status date, or within a more limited period, such as a project phase. It is an indicator of the speed of the project. Deliverable Hit Rate : This measures variance in the same way as the Milestone Hit Rate. It is an indicator of the rate of accomplishment in the project. Note: We have shown the same value scale for each vital sign. You may wish, for a specific project, to weight the scale higher or lower.
  • ©2010 Center for Project Management v4.1 Page Issue Resolution : Unresolved issues can become risks to the project. This vital sign measures the ability of the team to resolve issues by the date they are due. For example, if all issues have been resolved within 3 working days of their due date, good health is given to this vital sign. If issues are resolved within 7 working days of their due date, a warning is given. If issues remain more than 7 days after their due date, trouble is indicated. Cost : This vital sign is measured by the variance between planned and actual project expenditures. It provides an indication of budget performance. Resources : This is again a variance measure, it assesses whether you are getting the resources you had planned to have on your team.
  • ©2010 Center for Project Management v4.1 Page Issue Resolution : Unresolved issues can become risks to the project. This vital sign measures the ability of the team to resolve issues by the date they are due. For example, if all issues have been resolved within 3 working days of their due date, good health is given to this vital sign. If issues are resolved within 7 working days of their due date, a warning is given. If issues remain more than 7 days after their due date, trouble is indicated. Cost : This vital sign is measured by the variance between planned and actual project expenditures. It provides an indication of budget performance. Resources : This is again a variance measure, it assesses whether you are getting the resources you had planned to have on your team.
  • Copyright 2000, Center for Project Management Begin this slide at:________________ 11/4/2000
  • Copyright 2000, Center for Project Management Begin this slide at:________________ 11/4/2000
  • ©2010 Center for Project Management v4.1 Page Our advice is to use a journalistic style. Get the bottom line out first and be prepared to expand into detail, as required. Convey information like a news channel; to the point. Not rude, but crisp. Be able to finish on time or even early. But be prepared to provide details, if needed!

Project Vital Signs Project Vital Signs Presentation Transcript

  • Webinar:Is it Alive? Read the Project Vital Signs June 12, 2012 11:00 AM – 12:30 PM 1ITMPI005
  • Gopal Kapur FounderCenter for Project Management gkapur@center4pm.com Michael Milutis Director of Marketing Computer Aid, Inc. (CAI) Michael_milutis@compaid.com 2
  • Center for Project ManagementThe Center for Project Management, is a professional services and trainingorganization: Business process optimization Strategy execution Change management Portfolio management Project managementWe offer an extensive catalog of management workshops, executivecoaching, productivity tools, trend research, and published works. 3
  • CAI Achieves IT Operational Excellence 4
  • PDU CREDITS FOR THIS WEBINARThe Project Management Institute has accredited this webinar with PDUs 5
  • NOW AVAILABLE!ONLINE WEBINAR RECORDINGS ANYTIME ACCESS!WWW. ITMPI.ORG / LIBRARY www.twitter.com/ ITMPI 6
  • Project Vital SignsCopyright 2012, Center for Project Management® 7
  • Progress Reviews Principles Percent Complete is Insidious In a marathon, the midpoint is not halfway to the finish.Copyright 2012, Center for Project Management®
  • Percent Complete is Insidious Fantasy % Complete = Fantasy George Glaser Fantasy % Complete = Lie Gopal KapurCopyright 2012, Center for Project Management®
  • Work Progress - Construction  Mostly Linear Progress o rk W TimeCopyright 2012, Center for Project Management®
  • Work Progress - IT Mostly Non-Linear Progress W T Progress W W T W Time Time W: Work T: ThinkCopyright 2012, Center for Project Management®
  • Project Vital Signs  Project “Health” Picture – Strategy  Why this project? – Team  Disposition – Tactics  How is the project doing? – Performance  How well did we do?Copyright 2012, Center for Project Management®
  • Project Vital Signs1. Strategy Alignment 8. Milestone Hit Rate2. Customer Buy-In 9. Deliverables Hit Rate3. Technology Viability 10. Issue Resolution4. Sponsor Commitment 11. Cost-To-Date Breach5. Value-To-Business 12. Actual vs. Planned Resources6. Vendor Viability 13. Project Risks7. Critical Path Status 14. Team Disposition Most project managers focus on schedule and cost.Copyright 2012, Center for Project Management® 13
  • Vital Signs -- Strategy1. Strategy Alignment – High Green – Medium Yellow – Low Red Monthly ReviewCopyright 2012, Center for Project Management®
  • Vital Signs -- Strategy2. Customer Buy-In – High Green – Medium Yellow – Low Red Monthly ReviewCopyright 2012, Center for Project Management®
  • Vital Signs -- Strategy3. Technology Viability – High Green – Medium Yellow – Low Red Monthly ReviewCopyright 2012, Center for Project Management®
  • Vital Signs -- Strategy4. Sponsor Commitment and Time – High Green – Medium Yellow – Low Red Monthly ReviewCopyright 2012, Center for Project Management®
  • Vital Signs -- Strategy5. Value-To-Business (Expected) – High Green – Medium Yellow – Low Red Monthly ReviewCopyright 2012, Center for Project Management®
  • Vital Signs -- Strategy6. Vendor Viability – High Green – Medium Yellow – Low Red Monthly ReviewCopyright 2012, Center for Project Management®
  • Vital Signs Report Vital Sign Deviation Value <10% 07. Critical Path Status 10% - 20% 1 (On-time Performance) >20% 2 <10% 08. Milestone Hit Rate 10% - 20% 1 (Speed of Travel) >20% 2 <10% 09. Deliverable Hit Rate (Completions and 10% - 20% 1 Accomplishments) >20% 2Copyright 2012, Center for Project Management® Slide 20
  • Vital Signs Report Vital Sign Deviation Value Within 3 days 010. Issue Resolution Within 7 Days 1 Unresolved 2 <10% 0 10% - 20% 111. Cost-to-Date Breach >20% 2 <10% 012. Actual vs. Planned 10% - 15% 1 Resources >15% 2Copyright 2012, Center for Project Management® Slide 21
  • Vital Signs Report Vital Sign Deviation Value 1 – 3 Risks 0 13. Project Risks 4 – 5 Risks 1 6 – 7 Risks 2 <15% 0 15% - 25% 1 14. Overtime Usage >25% 2©2011 Center for Project Management, All Rights Reserved, FPM v5 Slide 22
  • Vital Sign Thresholds Run away triggers – Greater than 30% variance Shut down conditions – Greater than 50% variance Project sponsors need to define the project run away triggers and the shut down conditions.Copyright 2012, Center for Project Management®
  • Project Vital Signs – Alerts  Unaligned Project  Schedule Breach  Budget Breach  Breach of Key Vital Sign(s)  Troubled ProjectCopyright 2012, Center for Project Management®
  • Reporting Project Vital Signs I’m OK, The Bull Is DeadCopyright 2012, Center for Project Management®
  • Project Vital SignsTypical Status Reporting – It was a dark and stormy night – Create distractions – Build empathy – Quick exit How often does this happen during project status reporting meetings?Copyright 2012, Center for Project Management® 26
  • Reporting Project Vital Signs Maximum Signal, Minimum Noise – The Punch Line – Current Status – Next Step – Explanation Houston, we have a problem.Copyright 2012, Center for Project Management®
  • The Bull is Dead Punch line – I’m okay the bull is dead Current status – The car is ‘damaged’ Next step – Please pick me up Explanation Bull Sheet – I will explain when I see youCopyright 2012, Center for Project Management® 28
  • Project Vital Signs Review1. Strategy Alignment 8. Milestone Hit Rate2. Customer Buy-In 9. Deliverables Hit Rate3. Technology Viability 10. Issue Resolution4. Sponsor Commitment 11. Cost-To-Date Breach5. Value-To-Business 12. Actual vs. Planned Resources6. Vendor Viability 13. Project Risks7. Critical Path Status 14. Team DispositionCopyright 2012, Center for Project Management® 29
  • Questions? 30
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  • Gopal Kapur FounderCenter for Project Management gkapur@center4pm.com Michael Milutis Director of Marketing Computer Aid, Inc. (CAI) Michael_milutis@compaid.com 32