Set performance targets and metrics by phase

IT projects and projects that create new products often are projects with a high degree of uncertainty.

To manage these types of project within a project portfolio is important to set performance targets and metrics by phase (long and short term targets).

The long-term targets are based on the business case and are useful to determine if the project will not deliver the expected benefits.

Whereas, the short-term targets are useful to verify the performance of each phase and to set the objectives for the next one. 

Short-term targets are updated at the end of each phase to avoid the risk of measuring the project against an obsolete set of metrics.

Keep in mind: managing projects with a high degree of uncertainty, in a portfolio, requires two set of targets by phase.

Francesco Pecoraro

Francesco has extensive experience as a project, program and portfolio manager, project management officer (PMO), digital transformation and strategic consultant. He is also considered a communication, public speaking and leadership expert.

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