Chapter 12

Measuring Progress

The project by definition is finite and so has to have an endpoint. It is not feasible to measure its performance as it approaches its deadline. It is essential to track the progress of the project as it moves from one work package to next. A good project manager has a detailed project plan with cost and schedule estimates for all statements of work. It is his or her job to accurately monitor, track, measure and analyze the progress in quantifiable results. Each work package is a measurable unit of progress. When the work is not broken down into small , detailed tasks, it can spell disaster for the project. The common practice is to use the 0-50-100 rule to display schedule status in project status meetings.
It is critical to measure costs accurately because cost measures productivity. Actual cost when compared with planned cost will tell the project manager whether the project is progressing as planned. It is important to consider the accounting lag and the rate at which the money is being spent, while calculating the costs.
Another key concept from this chapter is escalation thresholds. These thresholds are typically set in the planning process. They determine who handles a problem or approves a solution. Project team has the authority to solve problems but there are certain problems which need to be handled by senior management. Threshold management also distinguishes the type of changes the project management team can approve from the ones change board must approve. Threshold management ultimately brings the proper level of attention and mediaation to the specific problems which may arise during the life of a project.