May 20, 2013

A Worthwhile Quest: Measuring What's Important to Your Business

Posted by Mary Yanocha | 0 Comments

A recent Gartner survey on PPM found that the single biggest success criteria was alignment to company strategy.

Metrics continues to be an elusive yet hot topic as evidenced by the crowd that Lars Mieritz drew at this morning’s Gartner PPM & IT Governance Summit session, which was aptly titled “On the Quest for PPM KPIs and Metrics.”

Lars covered a lot of ground during the session, including the key elements for creating meaningful PPM metrics and how best to implement them. Getting the building blocks in place is the first hurdle. These elements include ensuring the data is available and credible, metrics definitions are kept concise, the purpose of the metrics collection is understood, there are resources in place that can obtain and interpret the information, and management is bought into the idea in the first place.

An overriding theme was that one size does not fit all. Lars shared many examples of metrics his clients have used at both the project (focused on execution and operational efficiency) and portfolio levels (focused on strategic alignment and value). While each organization needs to decide upon the specific measures that are most meaningful to their business, pulling these metrics together in a single view and not overcomplicating them with too many details will help improve how stakeholders receive the information. Interestingly, a recent Gartner survey on PPM found that the single biggest success criteria was alignment to company strategy, followed by supporting revenue growth. This finding is consistent with our own PPM research.

Gone are the short-sighted days when just being on time and on budget mattered. Stay focused on the business goals when developing your own KPIs and metrics, keep them simple, and use them as a guide in making sound business decisions.


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